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AIM, CGEN, KALA, PETS, SCO, VIPS — Stock Charts to Watch

Charts of the Day video for Monday March 9th, 2020


AIM ImmunoTech Inc. (AIM), an immuno-pharma company, exploded 4.00, or 190.48%, to 6.10, reaching a high of 7.11, on 94 million shares traded on Monday. It was up another 1.41, or 23%, to 7.51 in after hours. I showed you the chart over the weekend where it gapped and ran. That was a huge day for this stock. There could be some follow-through to 9, 10, or 11. We’ll see. Be very careful with these momentum stocks.

Compugen Ltd. (CGEN), one of my top picks for the year, broke out of a wedge on Monday, gaining 65 cents, or 7%, to 10.56, just 3 points off the multi-week high, before pulling back and closing up 10.01, on 1.4 million shares traded. It’s looking pretty good. Good volume for this stock. If it can get through the 10.60 range, look for 12 and 14.

Kala Pharmaceuticals, Inc. (KALA) had a big day on Monday, exploding out of a flag and gaining 1.65, or 26.27%, to 7.93, with a high of 8.84, on 7 million shares traded. That’s the biggest volume I’ve ever seen on this stock since it went public. It went to 29 right after it went public in 2017, then it came all the way down to the 3 1/4 range, broke out, made a 5-wave correction, ran up to the 7.41 range in Jan 2020, came down, and on Monday, it exploded again. Possible target could be in the 10-dollar range.

PetMed Express, Inc. (PETS) had a nice reversal, engulfing day on Monday, thrusting 86 cents, or 3.25%, to 27.36, after reaching a high of 28.34, on 847.408 shares traded. I’m looking for a test of the 29 range, and then take out and run to 33.

The ProShares UltraShort Bloomberg Crude Oil (SCO) jumped 12.32, or 51%, to 36.39, with a session and multi-week high of 37.90, on 5.7 million shares traded on Monday, and in three days it ran up 18.38 points. It may not be done yet. If oil continues lower, I’m thinking this may get up to 40-42.

Vipshop Holdings Limited (VIPS) had a big day. After popping and a breakaway gap, it gained 62 cents, or 3.76%, to 17.13, with a high of 16.6 million shares traded on Monday. Near-term target is 19 1/2, and then 21.

Stocks on the long side included AIM ImmunoTech Inc. (AIM), Compugen Ltd. (CGEN), VelocityShares 3x Inverse Crude S&P GSCI Crude Oil Index (DWT), Enzo Biochem, Inc. (ENZ), Direxion Daily Financial Bear 3X Shares (FAZ), VelocityShares Daily 2x VIX Short-Term ETN (TVIX), ProShares Short VIX Short-Term Futures ETF (SVXY), Direxion Daily Small Cap Bear 3X Shares (TZA), Kala Pharmaceuticals, Inc. (KALA), PetMed Express, Inc. (PETS), ProShares UltraShort Bloomberg Crude Oil (SCO), Vipshop Holdings Limited (VIPS), and Vaxart, Inc. (VXRT).

On the short side, stocks included The Boeing Company (BA), Boot Barn Holdings, Inc. (BOOT), Burlington Stores, Inc. (BURL), Cardlytics, Inc. (CDLX), Core Laboratories (CLB), CVR Energy, Inc. (CVI), Discover Financial Services (DFS), Delek US Holdings, Inc. (DK), BRP Inc. (DOOO), Darden Restaurants, Inc. (DRI), NETGEAR, Inc. (NTGR), NovoCure Limited (NVCR), Six Flags Entertainment Corporation (SIX), Tractor Supply Company (TSCO), and Take-Two Interactive Software, Inc. (TTWO).

Indices: S&P 500, NDX-X.




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