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AGRX, CGC, ENPH, SAVA, SEAC, XLRN — Stock Charts to Watch

Charts of the Day video for Tuesday January 28th, 2020


Agile Therapeutics, Inc. (AGRX) is one of the stocks on Tuesday that had a very intriguing pattern. This drug manufacturer plunged down in Oct, exploded back up, and then after retesting and pulling back to the 50-day moving average in mid-Nov, it has worked its way higher steadily in a channel. On Tuesday, it popped another 51 cents, or 15%, to 3.92, and reached a 3.96 session high on 5.5 million shares. I think it’s just getting started, quite frankly. This could be one of those stocks that immediately goes to the 5.50-.65 area where there’s some resistance from the highs back in 2017. There’s a possibility we may see this stock get up into the 10-12 zone.

Canopy Growth Corporation (CGC) jumped 2.36, or 11%, to 23.92, closing just three cents of the session high at 23.95, on 10.5 million shares on Tuesday. I’m convinced that this stock has more to go, and I mean a lot more to go. I think the inverse head-and-shoulders that broke out was retested, and then resulted in the recent pullback retest. It’s a good sign. With the upper end of the range near the high for the day, if it can get through 25.85-26.00, we should see 29.

Enphase Energy, Inc. (ENPH) has a beautiful, long-term chart, to say the least. After an Oct drop from the mid-30’s to the high teens, it reversed in Dec and has been moving up steadily in a rising channel. On Tuesday, it jumped 2.29, or 7.65%, to 32.24, ten cents off the session high at 32.34, on 4.2 million shares. I think it’s going to retest 35 1/2-3/4, and then we’re looking at 42. Those are my targets.

Cassava Sciences, Inc. (SAVA) looks awesome! It had an explosive move that took it from 1.60 to 11.00, then it had a pullback coil for two to three weeks, and then on Tuesday, it broke out like a bandit, gaining 1.51, or 21%, to 8.66, after thrusting to a high of 9.75, on 10.3 million shares. It didn’t close as well as I would have liked it to close, but I think this stock has merit for running to 11, and then we’re looking at mid-teens, or more, as the next targets.

SeaChange International, Inc. (SEAC) broke out on Tuesday, snapping back 37 cents, or 8.58%, to 4.80, before pulling back and closing up 4.68, on 1.2 million shares. I’m pretty sure we’re heading to 5 1/2 at this point.

Acceleron Pharma Inc. (XLRN) made a major breakaway move on Tuesday. It went to 100 pre-market, and during the trading session it was up 26.52, or 50%, to 79.39, after reaching a session and 52-week high at 82.00, on 8.7 million shares. Usually when a stock closes like that, there is something to be said about the long-term channel top and resistance. It may form some sort of consolidation and retesting. Eventually, I think this is a 90-100-dollar stock.

Stocks on the long side included Adaptimmune Therapeutics plc (ADAP), Agile Therapeutics, Inc. (AGRX), Armata Pharmaceuticals, Inc. (ARMP), Ballard Power Systems Inc. (BLDP), Canopy Growth Corporation (CGC), Enphase Energy, Inc. (ENPH), Hepion Pharmaceuticals, Inc. (HEPA), InMode Ltd. (INMD), Luckin Coffee Inc. (LK), NantKwest, Inc. (NK), Pieris Pharmaceuticals, Inc. (PIRS), Purple Innovation, Inc. (PRPL), Cassava Sciences, Inc. (SAVA), SeaChange International, Inc. (SEAC), Square, Inc. (SQ), Wrap Technologies, Inc. (WRTC), and Acceleron Pharma Inc. (XLRN).




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