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AHPI, CODX, GILD, MRNA, RAD — Stock Charts to Watch

Charts of the Day video for Wednesday March 18th, 2020

Allied Healthcare Products, Inc. (AHPI) was awesome on Wednesday, jumping 5.80, or 41 1/2%, to 19.75, after reaching a high of 20.00, on 2 million shares traded, and then it was up another 2.25, or 11.39%, in after-hours. I like the way this was set up. It has a falling wedge for wave one, a run-up, a thrust, wave four is a consolidation, and then a pop on Wednesday, sending it to resistance territory. I think 24-24 1/4 will be Thursday’s target. If it gets through that, we’re looking at much higher levels. Keep and eye on this one.

Co-Diagnostics, Inc. (CODX) is near the apex much like AHPI. It was up just two cents during the session on Wednesday to 10.70, but it reached a high of 12.24, on 8.7 million shares traded, and then gained 40 cents, or 3.74%, in after-hours. If it explodes again, we may see this stock at 35 and 38.

Gilead Sciences, Inc. (GILD) popped another 4.90, or 6 1/2% on Wednesday, to 79.42, after reaching a high of 79.98 on 32 million shares traded, and then another 2.08, or 2.62%, in after-hours. It has now had a two-day pop from the retest of the 68 level. I think it’s going to see 85-86 on Thursday.

Moderna, Inc. (MRNA) has now had a nice, two-day pop, on Wednesday running up another 3.40, or 12%, to 31.58, after reaching a morning high of 32.54, on 28.3 million shares traded, and then another 14 cents to 31.72 in after-hours. If it gets through 32.54, it can retest the high at 36, and then it’s off to the races.

Rite Aid Corporation (RAD) jumped 1.49, or 8.79%, to 18.44, with a high of 19.18, on 15 million shares traded on Wednesday. It has gone from 9.24 to 19.18. That’s ten points in four days. It may be a little bit overbought and at resistance at the gap, and with a 3-day follow-through, it may very well test the high near 23, and pull back to support at the 14-14 1/2 range.

Stocks on the long side included Applied DNA Sciences, Inc. (APDN), Allied Healthcare Products, Inc. (AHPI), Blue Apron Holdings, Inc. (APRN), Biomerica, Inc. (BMRA), BioNTech (BNTX), Co-Diagnostics, Inc. (CODX), VelocityShares 3x Inverse Crude S&P GSCI Crude Oil Index (DWT), Gilead Sciences, Inc. (GILD), Moderna, Inc. (MRNA), Novavax, Inc. (NVAX), Rite Aid Corporation (RAD), ProShares UltraShort Bloomberg Crude Oil (SCO), Teladoc Health, Inc. (TDOC), Direxion Daily Small Cap Bear 3X Shares (TZA), and United Natural Foods, Inc. (UNFI).

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