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ACHN, AKTX, DCPH, RKDA — Stock Charts to Watch

Charts of the Day video for Wednesday August 14th, 2019

Achillion Pharmaceuticals, Inc. (ACHN) has an awfully strong pattern with a left shoulder-head-right shoulder, neckline breakaway, and to the declining topline and moving average. It had a strong move from 2.40 to 5.00, a 2-3 week consolidation, and then on Wednesday it popped to resistance, looked like it was going to get through, and then back off, gaining just 7 cents, or 1.49%, to 4.76, on 2 million shares. The target going forward is 5 1/2-6.

Akari Therapeutics, Plc (AKTX) exploded 1.12, or 62.22%, to 2.02, on 3.5 million shares on Wednesday and closed at the upper end of the range. That’s a big move for this stock. Now, let’s see if there’s a follow-through. If there is, I’m looking for something around 4 and 5 1/4 going forward.

Deciphera Pharmaceuticals, Inc. (DCPH), which I put a swing on after the big pop, then it pulled back, and held support. It had an up day on Wednesday, which a lousy day for the market, and popped 1.97, or 5.5%, to 37.87, on 3.1 million shares. It looks like it wants to go higher.

Arcadia Biosciences, Inc. (RKDA), one of our swings, is looking great. I put a swing on it on Tuesday when it pulled back, and then it exploded on Wednesday, jumping 96 cents, or 16%, to 7.05, on 10.6 million shares. It has to get through the triple top at the 7.30-.35 range. If it does that, you may see 10 very quickly.

On the long side, stocks included S&P 500, Nasdaq 100, DJ-20, iShares Russell 2000 ETF (IWM), Achillion Pharmaceuticals, Inc. (ACHN), Akari Therapeutics, Plc (AKTX), Deciphera Pharmaceuticals, Inc. (DCPH), Direxion Daily Financial Bear 3X Shares (FAZ), G1 Therapeutics, Inc. (GTHX), Novavax, Inc. (NVAX), Arcadia Biosciences, Inc. (RKDA), ProShares UltraPro Short QQQ (SQQQ), VelocityShares Daily 2x VIX ST ETN (TVIX), Direxion Daily Small Cap Bear 3X ETF (TZA), ProShares Ultra VIX Short-Term Futures (UVXY), and Xunlei Limited (XNET).

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