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AMD, ARWR, CLVS, CRSP, INGN, INMD, NVTA — Stock Charts to Watch

Charts of the Day video for Tuesday November 19th, 2019


Advanced Micro Devices, Inc. (AMD) was up 1.41, or 3.54%, to 41.29, with a high of 41.79, on 92.5 million shares on Tuesday, and broke through my target at 40. It’s headed up toward the 44-45 zone. My next target is 45. I am now thinking 48-49 as the target, which is even more likely. Let’s see if it gets a pullback. It has gone 14 points in the last week and it’s still running.

Arrowhead Pharmaceuticals, Inc. (ARWR) is one of our swings that also has a very similar pattern, and a very sharp one that is accelerating. On Tuesday, it was up 2.33, or 4.84%, to 50.50, on 2 million shares. The high was 51.74, a multi-year high going back 12 years. Right now, my target has to be in the mid 70’s, but on a short-term basis I’m looking at the high 50’s.

Clovis Oncology, Inc. (CLVS) had a big turnaround and continues to push on Tuesday, up another 73 cents, or 10.34%, to 7.79, with a high of 8.20, on 19 million shares. That’s very good volume. I’m now looking at 9 1/4 as the next target going forward.

CRISPR Therapeutics AG (CRSP) exploded 9.93, or 17%, to 68.46, with a high of 74.00, on a hefty 5.6 million shares on Tuesday. I haven’t seen that since it went public on a positive up day. That’s a really good sign, but it is up against resistance from the 2018 high, so it may stall in this range since it’s already been up there. It went from 35 straight up to 74. Big move of 40 points.

Inogen, Inc. (INGN) is still sitting in the ascending bull wedge or coil, and popped 1.52, or 2.18%, to 71.18, reaching a high of 71.47, on 253,643 shares traded on Tuesday. If it takes out 73, look for it to run up to 77, 85, and 93.

InMode Ltd. (INMD) hit the top of the channel on Monday, then had an inside day on Tuesday, but still jumped 3.61, or 6.9%, to 55.84, with a high of 56.75, on 1.5 million shares, and is still holding up. Momentum could carry INMD into the mid 60’s.

Invitae Corporation (NVTA), a swing of ours, after popping and wedging, broke out, I gave you a swing on it, it backed off and filled the mini-gap on Monday, and on Tuesday, it came on again, jumping 1.14, or 6.24%, to 19.40, with a high of 19.72, on 2.5 million shares. The next target is 22-23, and then something around 26-27.

Stocks on the long side included Advanced Micro Devices, Inc. (AMD), Arrowhead Pharmaceuticals, Inc. (ARWR), Athenex, Inc. (ATNX), Axsome Therapeutics, Inc. (AXSM), Clovis Oncology, Inc. (CLVS), CRISPR Therapeutics AG (CRSP), Dicerna Pharmaceuticals, Inc. (DRNA), Inogen, Inc. (INGN), InMode Ltd. (INMD), Direxion Daily S&P Biotech Bull 3X ETF (LABU), Limelight Networks, Inc. (LLNW), Myovant Sciences Ltd. (MYOV), Invitae Corporation (NVTA), Puma Biotechnology, Inc. (PBYI), SmileDirectClub, Inc. (SDC), Tesla, Inc. (TSLA), 58.com Inc. (WUBA), Weight Watchers International I (WW), and XBiotech Inc. (XBIT).




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