Big Weekly Winners: Swing Trading with PowerRatings

Friday closed the trading week on a high note with U.S. stocks securing modest gains, but also marked the end of the 6-week rally of the S&P 500 as traders continued their speculation surrounding new stimulus measures from the Fed. Traders now eagerly await the results from Friday’s Jackson Hole meeting for resolution on whether further quantitative easing is on the horizon. Bernanke’s statement on Friday boosted stocks slightly, but trading volume has been very low and is expected to remain that way leading up to the central banker’s meeting. The top-performing stocks from this trading week came from the healthcare and basic materials sectors.

The stocks in this week’s Big Weekly Winners: Swing Trading with PowerRatings all earned PowerRatings of 8 or higher one week ago on August 17, 2012.

To learn more about PowerRatings, including how to swing trade stocks and ETFs with PowerRatings, click here.

Performance of 8/17/12 – 8/24/12 Trading Week

Onyx Pharmaceuticals, Inc. (ONXX)


Shares of Onyx Pharmaceuticals, Inc. opened the week very oversold after declining in price for the previous 2 weeks. After receiving several analyst upgrades based on projected sales of its new cancer drug, ONXX climbed almost 6% on Tuesday, rising above both its 50 and 200-day moving averages and ending the week with an 8.33% gain.

  • 8/17/12 Entry Price: 67.70 with a PowerRating of 8
  • 8/24/12 Exit Price: 73.34
  • Gain: 8.33%

Abraxas Petroleum Corp. (AXAS)

AXAS chart

Abraxas Petroleum Corp. shares have been trending negatively recently, down over 36% in the last year, and over 24% in the last month alone. After gapping-up sharply on Friday AXAS secured a modest gain of a little over 5% and ended the week trading flat in extremely overbought territory.

  • 8/17/12 Entry Price: 1.99 with a PowerRating of 8
  • 8/24/12 Exit Price: 2.09
  • Gain: 5.03%

StemCells Inc. (STEM)

STEM chart

Opening the week by gapping-down on Monday, StemCells Inc. shares settled and went on to suffer modest losses mid-week closing at $1.46 on Wednesday. STEM spiked significantly on Thursday after receiving an analyst upgrade by Maxim Group to close at $1.65, and retained the gains to end the trading week up over 3%.

  • 8/17/12 Entry Price: 1.63 with a PowerRating of 8
  • 8/24/12 Exit Price: 1.68
  • Gain: 3.07%

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Joshua Glasgall is Editor in Chief of Connors Research