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AMD, CCXI, CLVS, LK, PRQR, SWAV — Stock Charts to Watch

Charts of the Day video for Thursday December 12th, 2019


Advanced Micro Devices, Inc. (AMD) performed stellar action on Thursday. No question about it. You can see that this stock, which I put a swing on, broke out early Nov, ran up steadily, exploding 3.12, or 7.9%, to 42.59 on Thursday, with a high of 42.62, on 85 million shares. My targets now are 44 and 48 1/2. This stock looks powerful. That was a great move on Thursday.

ChemoCentryx, Inc. (CCXI) exploded a week and a half ago, formed a little wedge, and now it’s moving again. It ramped 2.07, or 6.6%, to 33.28, with a high of 34.25, on 1.1 million shares. If it gets through 37, it can get to the high 40’s.

Clovis Oncology, Inc. (CLVS) snapped back out across key resistance on Thursday and I put a swing on it. It popped 1.71, or 14.59%, to 13.43, with a high of 13.53, on 12.5 million shares. I think the momentum will carry it back up to 17, maybe even 22.

Luckin Coffee Inc. (LK) had a nice reversal on Thursday. Wednesday’s decline really concerned me, but it held the trendline, lateral price support, and then popped right back to finish up 2.67, or 9.18%, to 31.77, reaching a high of 31.92, on 9 million shares. At this point, I think it’s going to extend. I’m looking for 36-37.

ProQR Therapeutics N.V. (PRQR), an old swing of ours, popped late Nov, pulled back, tested, ran up another 95 cents, or 11%, reaching 9.75, and then closed just pennies off the high at 9.73, on 385,583 shares traded on Thursday. Now, it’s been up five out of six days with Thursday’s action breaking it out through resistance. I think this stock may be headed for a quick test of 10.25-.35 as early as Friday. Then we’re looking at 12 and 16 going forward.

ShockWave Medical, Inc. (SWAV) made a steady channel up as it accelerated higher on Thursday, jumping 2.18, or 5.2%, to 43.99, with a high of 44.63, on 819,413 shares traded. It hasn’t reached the top of the channel yet, but I suspect it will follow through on Friday to the 45-46 zone.

Stocks on the long side included Agios Pharmaceuticals, Inc. (AGIO), Advanced Micro Devices, Inc. (AMD), Amneal Pharmaceuticals, Inc. (AMRX), Assembly Biosciences, Inc. (ASMB), Bausch Health Companies Inc. (BHC), ChemoCentryx, Inc. (CCXI), Canopy Growth Corporation (CGC), Clovis Oncology, Inc. (CLVS), Dermira, Inc. (DERM), Fulgent Genetics, Inc. (FLGT), FormFactor, Inc. (FORM), Forty Seven, Inc. (FTSV), IVERIC bio, Inc. (ISEE), Akerna (KERN), Eastman Kodak Company (KODK), Luckin Coffee Inc. (LK), LMP Automotive Holdings, Inc. (LMPX), MEDNAX, Inc. (MD), Mallinckrodt Public Limited Company (MNK), Model N, Inc. (MODN), Neoleukin Therapeutics, Inc. (NLTX), ProQR Therapeutics N.V. (PRQR), comScore, Inc. (SCOR), ShockWave Medical, Inc. (SWAV), TG Therapeutics, Inc. (TGTX), and Exicure, Inc. (XCUR).




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