Charts of the Day

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AKAO, AKBA, QRVO, WB — Stock Charts to Watch

Charts of the Day video for Tuesday May 16th, 2017

AKAO, AKBA, QRVO, WB

Achaogen, Inc. (AKAO), one of our favorite swing trades from back in Dec when it popped and pulled back, and went from the 12-13 range and doubled, coiled for two months, popped on Tuesday 1.56, or 7%, to 25.33, on 520,380 shares traded. The volume is good, but not great. Keep an eye on the 26.00 area. There’s the high at 27 3/4. If that zone is taken out, it could lead to high 30’s. It has 6.4 days to cover short.

Akebia Therapeutics, Inc. (AKBA) had a big day on Tuesday, popping 2.11, or 16%, to 15.01, on 6.6 million shares traded. It popped up, pulled back, popped again, but couldn’t get through the high, and drifted down the rest of the day. It might swing toward 18. That’s my swing target. If it holds 14.68-.70 on Wenesday, and starts to move up again, it could accelerate to 17, 18, even 19.

Qorvo, Inc. (QRVO), one of our swing trades, had a nice snapback this week. It held support, and then exploded in the last week, going from 66.00 to 75.00. On Tuesday, it gained another 3.30, or 4.6%, to 74.84, on 2.8 million shares traded. At this point, although I had a target at 77-8, it looks like it could make it up to the high 80’s. It has 8.5 days to cover.

Old swing Weibo Corporation (WB) just keeps giving. It’s been a year since I gave you the first swing on this stock, and it has gone from the low 20’s to near 80.00. It was up 15.70, or 25%, to 78.60, on 13.6 million shares traded on Tuesday, reaching a high at 79.26. Is it short-term overbought? Yes. Can it extend? Yes. If it extends, it could see 100-120. It has 7.5 days to cover.

Stocks on the long side included Achaogen, Inc. (AKAO), Akebia Therapeutics, Inc. (AKBA), BlackBerry Limited (BBRY), Baozun Inc. (BZUN), 3D Systems Corporation (DDD), New Oriental Education & Technology Group Inc. (EDU), Etsy, Inc. (ETSY), ImmunoGen, Inc. (IMGN), Lumber Liquidators Holdings, Inc. (LL), Melco Resorts & Entertainment L (MLCO), Momo Inc. (MOMO), Mazor Robotics Ltd. (MZOR), Pieris Pharmaceuticals, Inc. (PIRS), Qorvo, Inc. (QRVO), SINA Corporation (SINA), Sequans Communications S.A. (SQNS), SunOpta Inc. (STKL), Veeva Systems Inc. (VEEV), Weibo Corporation (WB), and Boingo Wireless, Inc. (WIFI).




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