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AMRN, ARRY, PRQR, XLNX — Stock Charts to Watch

Charts of the Day video for Thursday November 15th, 2018


Amarin Corporation (AMRN), which was obviously a buy for us at the 10 level back in September, ran up to both of the targets, but I was looking for more, 27 to be exact. It hit 23.34, rolled over and went down 10 points to 13.56. In the last two days it has jumped from 13.56 to 19.20, almost 6 points, or 45%. The volume was decent but not heavy, and the underlying technicals were just okay. On Thursday, this stock closed up 1.60, or 10%, to 17.72, on 23.5 million shares. What I’m worried about is that the pullback and reversal right near the support level and technical bounce-back. Right now, it looks like resistance is at 19.98. I need this to get through the 20 level, before it can make a run at 23 and 27 targets. Keep close tabs on it. I still like the overall look of it.

Array BioPharma Inc. (ARRY), which we gave you as a swing, ran up and pulled back hard when the market did, and then reversed nicely with a big engulfing bar on Thursday, jumping 1.18, or 8%, to 15.71, on 2.7 million shares. That’s the best volume in 5-6 sessions. It needs to get a follow-through because Thursday’s high at 15.93 is where there’s resistance. First, it needs to retest the highs at 17 1/2-18, then head to 20.

ProQR Therapeutics N.V. (PRQR) looks good. It popped out of a falling wedge or flag, gaining 1.73, or 10%, to 19.48, on 871,094 shares traded. That was the best volume in two months. I’m still looking for this to make a move to 22 1/2-23 zone, and then 27 1/2-3/4.

Swing trade Xilinx, Inc. (XLNX) is doing great. After the wedge formed this last week, it got very quiet on lower volume on Thursday, and then boom, it went straight up, popping 4.72, or 5.6%, to 88.51, on 3.7 million share. The long-term channel target says it’s headed to 92-93.

Stocks on the long side included Amarin Corporation plc (AMRN), Array BioPharma Inc. (ARRY), CareDx, Inc (CDNA), Denali Therapeutics Inc. (DNLI), Kornit Digital Ltd. (KRNT), Lannett Company, Inc. (LCI), New Age Beverages Corporation (NBEV), ProQR Therapeutics N.V. (PRQR), uniQure N.V. (QURE), Twilio Inc. (TWLO), Vanda Pharmaceuticals Inc. (VNDA), 21Vianet Group, Inc. (VNET), and Xilinx, Inc. (XLNX).

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