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ADMS, COLL, MRTX, SPPI — Stock Charts to Watch

Charts of the Day video for Tuesday January 23rd, 2018


Adamas Pharmaceuticals, Inc. (ADMS) jumped 1.86, or 4.56%, to 42.65, on 2 million shares traded on Tuesday. After multiple weeks of thinking it was ready, it finally broke out at the 36 range, and it’s already up to 43, and change. My target was 44-45, so it’s almost there. If it backs and fills, and consolidates, or even extends, it could go straight up to the low to mid 50’s, and, eventually, we could see 60.

Collegium Pharmaceutical, Inc. (COLL) gained 1.41, or 5.8%, to 25.73, on 1.7 million shares traded on Tuesday. Just like a lot of stocks where I pound the table during consolidation, bear with me on this one. This stock popped, formed a coil, and popped again. It’s almost at my target in the 28 range. It got to 26.77 and backed off about a point, but it was till a good close. In the last couple weeks it’s gone from 17 to almost 27. Is it done? It could see 28-30, but I think it’s going to get a fourth-wave pullback. It has 22.4 days to cover.

Mirati Therapeutics, Inc. (MRTX) advanced 1.65, or 6.33%, to 27.70, on 387,508 shares traded on Tuesday. It’s in an ascending bull coil. It popped a little on Tuesday, but if it pops through here it might go vertical to 30. It might eventually be a 40-50-dollar stock.

Spectrum Pharmaceuticals, Inc. (SPPI) popped on Tuesday, gaining 71 cents, or 3.39%, to 21.63, on 2.8 million shares traded. After the big move in Sept-Oct it’s taking a few months to consolidate. It had a big breakout on Monday, extended on Tuesday, but then backed off. Nevertheless, I’m still looking for 25 and 28 as the next targets.

On the long side, stocks included Adamas Pharmaceuticals, Inc. (ADMS), Cerecor Inc. (CERC), Collegium Pharmaceutical, Inc. (COLL), Corbus Pharmaceuticals Holdings, Inc. (CRBP), Ceragon Networks Ltd. (CRNT), Dicerna Pharmaceuticals, Inc. (DRNA), Fate Therapeutics, Inc. (FATE), Amicus Therapeutics, Inc. (FOLD), Harvard Bioscience, Inc. (HBIO), Helios and Matheson Analytics Inc. (HMNY), HTG Molecular Diagnostics, Inc. (HTGM), Immunomedics, Inc. (IMMU), Direxion Daily Jr Gld Mnrs Bull 3X ETF (JNUG), Kopin Corporation (KOPN), Mirati Therapeutics, Inc. (MRTX), NUTANIX, INC. (NTNX), Pure Storage, Inc. (PSTG), uniQure N.V. (QURE), Spectrum Pharmaceuticals, Inc. (SPPI), and Vuzix Corporation (VUZI).

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