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ABBV, ACAD, AMD, AMRN, ARWR, MAXR — Stock Charts to Watch

Charts of the Day video for Tuesday November 12th, 2019


AbbVie Inc. (ABBV), one our swing trades from back in the high 60’s in Aug-Sept, has now reached the high 80’s on Tuesday, and at the top of the channel popped 78 cents, or .91%, to 86.44, with a high of 88.28, on 11.7 million shares. My target was 80.89, which we reached on Tuesday. Can it go further? Of course, it can. Is it overbought? Perhaps. It may need to do more consolidating, but, eventually, I’m looking for 92 and 95.

ACADIA Pharmaceuticals Inc. (ACAD) broke out on Monday. I highlighted it, then, but I wanted to show you the follow-through that took place on Tuesday. It jumped 1.09, or 2.4%, to 46.33, with a high of 47.79, on 2 million shares. The target going forward is 51-2. Support is at 44 1/2.

Advanced Micro Devices, Inc. (AMD) is in a beautiful 5-6-day flag. On Tuesday, it popped 40 cents, or 1.1%, to 36.72, with a high of 37.13 on 59 million shares. I think the next level will take it to 39-40, which is the next target short-term. This stock is looking great. Short-term support is 35 1/2.

Amarin Corporation plc (AMRN) exploded big time on Tuesday, jumping 4.02, or 21%, to 20.94, with a high of 20.96, on 48 million shares. With a break away move on that kind of volume, I’ve got to be excited about a follow-through to 23-4 zone short-term.

Arrowhead Pharmaceuticals, Inc. (ARWR) continues to pound it. It was up 2.34. or 5.44%, to 45.28, reaching a new high of 45.84, on 1.9 million shares on Tuesday. Going forward, my target is 46.

Maxar Technologies Inc. (MAXR) swing trade is doing well. Look at that move in the last week and a half. It went from 7 1/2 to Tuesday’s run up of 60 cents, or 5.17%, to 12.21, with a high of 12.51. on 2.4 million shares traded. At the top of the channel it may get a pullback consolidation. Watch for a set-up or flag. If it doesn’t get one, it may explode into the 15-16 range, which is my next target.

Stocks on the long side included AbbVie Inc. (ABBV), ACADIA Pharmaceuticals Inc. (ACAD), Acasti Pharma Inc. (ACST), Advanced Micro Devices, Inc. (AMD), Amarin Corporation plc (AMRN), Digital Turbine, Inc. (APPS), Apyx Medical Corporation (APYX), Arrowhead Pharmaceuticals, Inc. (ARWR), CRISPR Therapeutics AG (CRSP), Dicerna Pharmaceuticals, Inc. (DRNA), DXC Technology Company (DXC), Ferro Corporation (FOE), Jounce Therapeutics, Inc. (JNCE), Kadmon Holdings, Inc. (KDMN), Maxar Technologies Inc. (MAXR), PG&E Corporation (PCG), Impinj, Inc. (PI), Sea Limited (SE), Viking Therapeutics, Inc. (VKTX), and Verso Corporation (VRS).




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