The practice of focusing on strong charts to find high-potential stocks will never steer you wrong. In fact, I keep an ever-evolving list of leading stocks on my desk, and one that keeps popping up is Onyx Pharmaceuticals (ONXX).
Now, biology is my weak suit, so I won’t claim to understand exactly what makes Onyx such a great company. What I do know is that it’s targeting the cancer market, and that’s huge. Furthermore, I know that the company turned profitable way back in 2008 (though recent investments have put it temporarily in the red again), so management is capable.
Onyx’s biggest seller is its Nexavar tablet, which targets liver cancer and advanced kidney cancer. Second are its Stivarga tablets, which treat metastatic colorectal cancer. In clinical trials are drugs to target liver, kidney, thyroid, breast, and non-small cell lung cancers, gastro intestinal stromal tumors, multiple myelomas, hematologic malignancies and more.
With a stock hitting new highs, a company capable of making a profit, and a huge potential market, ONXX is attractive right here. But earnings will be reported May 7, and volatility should be expected, so I don’t recommend just jumping on board right now.
What I do recommend is taking a no-risk trial subscription to Cabot Top Ten Trader, so you can see Mike Cintolo’s latest advice on the stock, and get timely advice on investing in other strong stocks as well!
For details, click here.