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AMD, CTSO, KRMD, PCG, SPCE, SQ — Stock Charts to Watch

Charts of the Day video for Wednesday February 19th, 2020

Advanced Micro Devices, Inc. (AMD) has been ramping since October, when it broke out of a falling wedge, popped out at about 30 and just kept running. On Wednesday it jumped another 2.01, or 3.53%, to 58.90, reached a session and multi-week high of 59.27, on 57 million shares traded, right in my 59-60 zone. It’s extended and a little overbought short term, but I think it will see 60-62 and then it may get a pullback. At some point, though, 70-75 is still in range in my thinking as a longer-term, channel-top target and fifth wave up. You may even see 80 dollars on this, eventually.

Cytosorbents Corporation (CTSO) made an explosive move on a pullback on Wednesday, popping 44 cents, or 8.15%, to 5.84, with a high of 6.24, on 2.1 million shares traded. I like the big volume on it, I like the overall breakdown above the resistance channel, and the pullback right to it. I think this stock is headed to the 8-8 1/2 zone.

Repro Med Systems, Inc. (KRMD) popped out of a coil on Wednesday that’s lasted two and a half months, adding another 1.09, or 18%, to 7.09, after reaching a session and 52-week high at 7.29, on an increased volume of 685,836 shares traded, the best in nearly a year. Coming out of a coil, I’m looking for this stock to get to 9-9 1/2.

PG&E Corporation (PCG) also popped out of a wedge on Wednesday, gaining 1.42, or 8.83%, to 17.51, closing just pennies of the session high at 17.54, on a hefty 14.4 million shares traded. I’m looking for this stock to extend. The next target is 20.

Virgin Galactic Holdings, Inc. (SPCE), after coming down hard on Tuesday, recovered on Wednesday, jumping 7.05, or 23.27%, to 37.35, reaching a high of 37.50, and another 1.40, or 3.88% in after-hours, on 81 million shares traded. If this gets over 38 3/4, look for it to run up to the low-to-mid 40’s.

Square, Inc. (SQ) popped out of a key-resistance zone in a consolidation area and across quadruple tops on Wednesday, gaining 2.82, or 3.42%, to 85.24, with a high of 86.48, on 9 million shares traded. I think this stock has a very good shot at making a move back up to about 100.

Stocks on the long side included Advanced Micro Devices, Inc. (AMD), Bloom Energy Corporation (BE), Ballard Power Systems Inc. (BLDP), Beyond Meat, Inc. (BYND), Chemours Company (CC), Compugen Ltd. (CGEN), Clovis Oncology, Inc. (CLVS), Cytosorbents Corporation (CTSO), FuelCell Energy, Inc. (FCEL), Inseego Corp. (INSG), Repro Med Systems, Inc. (KRMD), Luckin Coffee Inc. (LK), Mallinckrodt plc (MNK), Momenta Pharmaceuticals, Inc. (MNTA), Puma Biotechnology, Inc. (PBYI), PG&E Corporation (PCG), Impinj, Inc. (PI), Plug Power Inc. (PLUG), Purple Innovation, Inc. (PRPL), Quad/Graphics, Inc. (QUAD), Arcus Biosciences, Inc. (RCUS), Sibanye Gold Limited (SBGL), SolarEdge Technologies, Inc. (SEDG), Soligenix, Inc. (SNGX), Virgin Galactic Holdings, Inc. (SPCE), Square, Inc. (SQ), Invesco Solar ETF (TAN), Wrap Technologies, Inc. (WRTC).

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