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AMD, ARWR, AXSM, FATE, RGNX — Stock Charts to Watch

Charts of the Day video for Tuesday May 28th, 2019


It was a lousy day on Wall Street, particularly in the afternoon after a nice start, but a lot of stocks we follow did well. Let’s take a look at some of them.

Advanced Micro Devices, Inc. (AMD), on positive news, broke out of a multi-week, flag-type consolidation laterally, held the trendline and moving averages, and then popped 2.59, or 10%, to 29.03, on a whopping 144 million shares. What I need now is a follow-through to take this to the early April spike-high that took it up to 29.95. If it can get through 30, then 34 is my target.

Arrowhead Pharmaceuticals, Inc. (ARWR), a swing trade of ours, is working well after the pop and breakout last week. It pulled back and on Friday and Tuesday it really got running again, gaining 98 cents, or 4%, to 25.02, on 3.7 million shares to a high of 29.39 on Tuesday. Next target is 32.

Axsome Therapeutics, Inc. (AXSM), also one of our swing trades, has been beautifully running up the channel. On Tuesday, it gained another 47 cents, or 2%, to 25.20, on 1.3 million shares, and ran up to another new high at 26.45. It is at the top of the channel, so it might have some problems, but the accelerated channel-top says 29-30.

Fate Therapeutics, Inc. (FATE), another swing of ours, is acting great. It broke out, pulled back and flagged, wedged, and on Tuesday, it broke out again, jumping 1.28, or 7%, to 20.25, on 1.5 million shares, with a high of 20.55. That’s the biggest volume on an up-day since last Sept. Targets are 23 1/2, and the 28-28 1/2, maybe 29.

REGENXBIO Inc. (RGNX) broke a declining topsline in April came down, popped through the moving averages, I put a swing on it on Tuesday. It closed up 3.28, or 7%, to 48.92, on 1.5 million shares. It did back off a little bit, but I like it for 55-56, and then 63-64.

Stocks on the long side included Advanced Micro Devices, Inc. (AMD), Arrowhead Pharmaceuticals, Inc. (ARWR), Axsome Therapeutics, Inc. (AXSM), Beyond Meat, Inc. (BYND), Fate Therapeutics, Inc. (FATE), Bitcoin Investment Trust (GBTC), Neptune Technologies & Bioressources Inc. (NEPT), Outlook Therapeutics, Inc. (OTLK), PaySign, Inc. (PAYS), Anaplan, Inc. (PLAN), Predictive Technology Group, Inc. (PRED), Quotient Limited (QTNT), REGENXBIO Inc. (RGNX), SeaWorld Entertainment, Inc. (SEAS), and Soliton, Inc. (SOLY).




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