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ACAD, AXSM, CRC, INGN, MAXR, SWAV — Stock Charts to Watch

Charts of the Day video for Monday September 16th, 2019


ACADIA Pharmaceuticals Inc. (ACAD), after it popped and pulled back, I think, was a good entry opportunity at support around 39 and then 36 1/2. But Monday’s breakout of 3.56, or 8.8%, to 44.01, on 4.3 million shares, tells me it may be going higher. I’m looking for 51.

Axsome Therapeutics, Inc. (AXSM) looks like it broke out of a 2-month consolidation on Monday. It popped 2.32, or 8.6%, to 29.16, on 1.2 million shares. I think it’s going to propel to the mid-30’s, if not the high 30’s going forward.

California Resources Corporation (CRC) exploded, and I mean exploded, 4.49, or 38%, to 16.31, on 13 million shares on Monday. It was a beautiful trade on Monday, nice swing, and I think it can go higher. My target is 20.

Inogen, Inc. (INGN) jumped 3.09, or 6.38%, to 51.50, on 749,839 shares traded on Monday. I’m looking for a major reversal. I believe that after coming from 287 to 41, this might be a little base and breakout. Pulling back to the 60-day and trend channel, it looks like the retest is successful. Now, we have a large support at Monday’s low. I’m looking for 47.85. I would love to see it hold. If it does, I’m looking for a retest of the 55-56 zone, and then we’re looking at 65.

Maxar Technologies Inc. (MAXR) reintroduced another swing on Monday with an engulfing bar, breakout, gain of 93 cents, or 10%, to 10.11, on 3.8 million shares. I believe it’s headed toward 13 and then 19 going forward.

ShockWave Medical, Inc. (SWAV), I think, made a long enough drop from 68 to 29, and is ready for a big move. Monday, it was up 2.18, or 7%, to 32.85, on 497,320 shares traded, and looked like a reversal day, but it’s been down for 9 days in a row. The question is, will it get a follow-through. If it does, the target is 38.

Stocks on the long side included ACADIA Pharmaceuticals Inc. (ACAD), AudioCodes Ltd. (AUDC), Axsome Therapeutics, Inc. (AXSM), Callon Petroleum Company (CPE), Daqo New Energy Corp. (DQ), Dynavax Technologies Corporation (DVAX), Devon Energy Corporation (DVN), EverQuote, Inc. (EVER), Turtle Beach Corporation (HEAR), Infinera Corporation (INFN), Inogen, Inc. (INGN), Maxar Technologies Inc. (MAXR), Marathon Oil Corporation (MRO), Novavax, Inc. (NVAX) RADA Electronic Industries Ltd. (RADA), SM Energy Company (SM), ShockWave Medical, Inc. (SWAV), TherapeuticsMD, Inc. (TXMD), VelocityShares 3x Lng Crude Oil ETN New (UWT), Workhorse Group Inc. (WKHS), and Whiting Petroleum Corporation (WLL).




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