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ABUS, MRNS, OPK, XNCR — Stock Charts to Watch

Charts of the Day video for Tuesday July 10th, 2018


Arbutus Biopharma Corporation (ABUS) had broken out of a base in June, pulled back and tested, ran up, and has been consolidating. It looked like it reversed on Monday, and Tuesday was a positive inside day, still popping 25 cents, or 2.84%, to 9.05, on 588,532 shares traded. It looks to me like it’s not done yet. Targets are 10 1/2-11, and then 12 1/2, or better. Support, or any pullback would be 8.20-.25.

Marinus Pharmaceuticals, Inc. (MRNS), one of our old swing trades, worked for a while back in November and December, rolled over, re-established itself with an inverse head-and-shoulders and right-handed, extended V, broke through the declining topsline, broke above resistance, got to secondary resistance, formed a wedge, broke out of the wedge, and on Tuesday, it jumped 63 cents, or 8.6%, to 8.04, on a million shares. The levels I will be watching going forward are 8 1/4, 10, and then 12.

OPKO Health, Inc. (OPK), which I put a swing on Tuesday, bounced 27 cents, or 4.89%, to 5.79, on 8.9 million shares. I like the overall look of this stock. Here’s why. It had a long-term downtrend, formed a right-handed V, got up to the declining topsline, formed a wedge, broke out on Friday on big volume, and on Tuesday it had a bit of a follow-through. I’m looking for more upside. Targets going forward are 6 1/2 and 7 1/2.

Xencor, Inc. (XNCR), one of our old swing trades, is working well, gaining 52 cents, or 1.33%, to 39.66, on 396,925 shares traded on Tuesday. It formed a double-top, came down, broke out, and now I think it’s headed to the 50-52 zone going forward.

Stocks on the long side included Arbutus Biopharma Corporation (ABUS), Alder Biopharmaceuticals, Inc. (ALDR), CLPS Incorporation (CLPS), Civeo Corporation (CVEO), VAALCO Energy, Inc. (EGY), Elevate Credit, Inc. (ELVT), Inspire Medical Systems, Inc. (INSP), Marinus Pharmaceuticals, Inc. (MRNS), Neptune Technologies & Bioressources Inc. (NEPT), OPKO Health, Inc. (OPK), Stitch Fix, Inc. (SFIX), TPI Composites, Inc. (TPIC), Vicor Corporation (VICR), Verastem, Inc. (VSTM), Vital Therapies, Inc. (VTL), W&T Offshore, Inc. (WTI), Xencor, Inc. (XNCR).

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