Charts of the Day

Harry's Charts of the Day videos are available nightly to members. Members please login and see Charts of the Day in the "Videos" menu dropdown.

ADVM, AKBA, APLT, CLSK, OBSV, TGTX — Stock Charts to Watch

Charts of the Day video for Tuesday May 5th, 2020


Adverum Biotechnologies, Inc. (ADVM) made a powerful move on Tuesday, above a double-top and breakaway gap, and jumped 5.27, or 38%, to 19.00, after reaching a multi-week and session high of 19.23, on 6.5 million shares traded, and another 39 cents in after-hours. That is the best volume in three months. This is definitely a breakout for this stock. There is some resistance going back to the gap in 2015 that comes in around the 21 level. It may reach that on Wednesday. The secondary target is in the 27 range.

Akebia Therapeutics, Inc. (AKBA) on Tuesday exploded after forming a V-bottom and platform with a breakaway gap. It ran 3.29, or 38%, to 11.95, on a multi-week and session high of 12.25, on 16.2 million shares traded. That is the second biggest volume ever on AKBA. The last time it broke out was in 2017. I would not be surprised to see this extend to the mid-teens, and then 20 in the next few weeks, of course, unless the market collapses.

Applied Therapeutics, Inc. (APLT) broke out of a wedge on Tuesday and popped 4.57, or 12.2%, to 42.00, on a session high of 45.00, on a thinly traded 217,402 shares. If APLT extends, it might retest 48, and then 55.

CleanSpark, Inc. (CLSK) software company exploded on Tuesday on a whopping 80 million shares, popping 1.69, or 124%, to 3.05, with a session high of 4.55. That is much more volume than it had in April when it popped and pulled back. But this time it didn’t pull back as much. I have a sneaky suspension it is going to get a follow-through, targeting 4 1/2 and 5 1/2.

ObsEva SA (OBSV) biotech company on Tuesday popped from a mini-base, through the declining topsline and 50-day moving average as well. It gained 54 cents, or 22%, to 2.95, with a session high of 3.25, on 2.5 million shares traded. It may get a follow-through, but it didn’t close well. Targets now are 4 1/2 and 5 1/4.

TG Therapeutics, Inc. (TGTX) was on the move on Tuesday, with a breakaway gap and big volume, ramping 4.23, or 34%, to 16.69, with a session and multi-week high at 16.98, on 13.6 million shares traded. It broke through key resistance at the high back in 2018 at 16.90, just two cents more than Tuesday’s high. It almost has an exact double-top in the resistance zone. Should it get through, look for it to get to 19-19 1/4. It has momentum, but there is a second resistance it must get through first.

Stocks on the long side included Adverum Biotechnologies, Inc. (ADVM), Akebia Therapeutics, Inc. (AKBA), Applied Therapeutics, Inc. (APLT), BioNTech (BNTX), Chembio Diagnostics, Inc. (CEMI), CleanSpark, Inc. (CLSK), Genprex, Inc. (GNPX), InMode Ltd. (INMD), LightPath Technologies, Inc. (LPTH), Livongo Health, Inc. (LVGO), Neoleukin Therapeutics, Inc. (NLTX), ObsEva SA (OBSV), Sea Limited (SE), Seattle Genetics, Inc. (SGEN), TG Therapeutics, Inc. (TGTX), U.S. Concrete, Inc. (USCR), Wayfair Inc. (W), and Winnebago Industries, Inc. (WGO).




©2001-2020 TheTechnicalTrader (www.thetechtrader.com), a publication of AdviceTrade, Inc. All rights reserved.