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AKRO, CNQ, GVA, MX, SGBX, VVUS — Stock Charts to Watch

Charts of the Day video for Tuesday March 31st, 2020


Akero Therapeutics, Inc. (AKRO) had a big pop premarket Tuesday morning, then came down when the market opened, and consolidated, before finishing up 4.02, or 23.4%, to 21.20, reached a high of 22.39, on 1.6 million shares traded. It did back off from the declining topsline and lateral-price resistance. If it does extend, which I would be watching for on Wednesday, look for a take out the 22.40 range, and then make a move up to 24 1/2. Even 26 1/2 is a potential target if there is a follow-through and I think there might be one.

Canadian Natural Resources Limited (CNQ) was definitely a reversal day, taking it from 8.95 to 11.00 on Monday, and then on Tuesday it had another great day, jumping 2.42, or 22%, to 13.55, with a session high of 13.82, on 23.6 million shares traded, and adding another nickel to 13.60 in after-hours. That was five times the average volume. It really had a nice day. There’s a little bit of resistance coming forward at about 14.40. Targets are 15 3/4 and 18.

Granite Construction Incorporated (GVA) popped 1.62, or 12%, to 15.18, after reaching to a session high of 15.75, on 1.3 million shares traded. On the one-minute chart you can see that it close with a bang. It did really good late in the day, closing near the high. Perhaps there will be a follow-through if it can get over the 15.85 area. If it does, then we could see 17 and 18 1/2.

MagnaChip Semiconductor Corporation (MX), which had a sale of a major division for a bunch of cash on Tuesday, exploded 1.67, or 18%, to 11.05, with an early session high of 12.55, on 2.2 million shares traded, but closed poorly. I will leave that one to see if it consolidates in that zone before it moves up. However, the next target is 13.

SG Blocks, Inc. (SGBX), a provider of onsite point of contact medical care and code compliant container-based construction, had a monster day on Tuesday, exploding, and then kept running all day, closing up 7.24, or 352%, to 9.30, after reaching a high at 9.78, on 19.6 million shares traded, and then added another 1.56 or 16% in after-hours that took it beyond Tuesday’s high to 10.72. That was 52 times average volume. I believe it had a reverse split that took off. Some resistance was taken out, so it will test about 11 as early as Wednesday morning. Be careful on this one, though, it’s extended.

VIVUS, Inc. (VVUS), a biopharm company, announced on Tuesday the accelerated launch of telemedicine and remote monitoring modules, exploded premarket on Tuesday morning, going from under a dollar to over four, quadrupling, and then came back down. To be exact, it jumped 2.65, or 279%, to 3.60, reaching a high of 4.52, on 55 million shares traded.

Stocks on the long side included Akero Therapeutics, Inc. (AKRO), Adhera Therapeutics, Inc. (ATRX), Canadian Natural Resources Limited (CNQ), Cytosorbents Corporation (CTSO), Equinor ASA (EQNR), Eldorado Resorts, Inc. (ERI), Granite Construction Incorporated (GVA), Kala Pharmaceuticals, Inc. (KALA), MagnaChip Semiconductor Corporation (MX), Noble Energy, Inc. (NBL), Novavax, Inc. (NVAX), Owens & Minor, Inc. (OMI), PBF Logistics LP (PBFX), Penn National Gaming, Inc. (PENN), SG Blocks, Inc. (SGBX), Summit Materials, Inc. (SUM), U.S. Concrete, Inc. (USCR), and VIVUS, Inc. (VVUS).




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