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AMRN, ARWR, AXSM, CLVS, GTT, LK, PBYI, WRTC — Stock Charts to Watch

Charts of the Day video for Tuesday December 10th, 2019


Amarin Corporation plc (AMRN) is looking well. After exploding, then pulling back and forming a wedge, AMRN finally started to trend upward in a nice pattern on Tuesday, breaking out of a wedge, and closing up 66 cents, or 2.92%, to 23.23, with a high of 23.57, on 8.1 million shares. That’s nothing huge, but it appears the volume is coming into it, and the OBV in moving up steadily. It’s got to get up to 23 3/4. If it gets through that, it’s headed to 26, and then the 28-9 range.

Arrowhead Pharmaceuticals, Inc. (ARWR) is powerful. The pullback lasted one day, it popped, and then pulled back again, held it in the 60-dollar range of support, then on Tuesday, it ran up 3.09, or 5%, to 70.86, reaching a high of 72.17, on 2.2 million shares. Going forward, targets are 81 and 95.

Axsome Therapeutics, Inc. (AXSM) continues to explode. This stock was a swing last Jan, a year now, and has run from the 6-range to nearly 50 on Tuesday, jumping 3.63, or 8%, to 48.75, and reaching a high of 49.30, on 1.6 million shares. That high seems to be coming out across channel tops. If it does, it could accelerate into the high 50’s.

Clovis Oncology, Inc. (CLVS) has been a favorite of ours for quite some time. After the run up that started in Nov, I told everyone that this stock was extended and needed to get a retrace. Well, it got one, and a big one, going from 17 to 8 3/4. Then, on Tuesday, the Fibonacci retracement took it up 1.39, or 13%, to 12.10, reaching a high of 12.60, on 18 million shares traded. This is going to be a real test of this stock. Either we hold at 12.60 and pull back and consolidate for a while, or it explodes through the 13-range to retest 17, and then onward and upward.

GTT Communications, Inc. (GTT) is a new swing of ours and a powerful-looking-type, rising channel. It’s been up nine days in a row. On Tuesday it gained another 1.21, or 11%, to 12.66, reaching a high of 12.84, with an increase in volume of 3.5 million shares. If this stock gets above 13 1/2, you’re looking at 17 3/4 and 22-23 as the next targets.

Luckin Coffee Inc. (LK), a swing trade of ours, looks like it’s on its way back up. On Tuesday, it gained another 76 cents, or 2.5%, to 31.12, reaching a high of 31.62, on 5.1 million shares. If the wedge pattern is taken out, it could explode to 32-33, and change, and then run up into the high 30’s.

Puma Biotechnology, Inc. (PBYI), after a nasty drop, severely tested support, stalled for two days, and on Tuesday it popped right back up again, gaining 80 cents, or 10.5%, to 8.49, reaching a high of 8.76, on 2.3 million shares. Let’s watch the 9-dollar range. If it gets above that, I’m looking for 9 1/2, 10 1/2, and 11 1/2, or more, as targets going forward.

Wrap Technologies, Inc. (WRTC) not only popped beautifully on Tuesday, gaining 51 cents, or 8.66%, to 6.40, reaching a high of 6.60, on 824,276 shares traded, but it took out a wedge. After hours, strong news came on WRTC, and it exploded to a high of 7.23, and was still trading at 7.20 late Tuesday evening. This is a fantastic move. My original target was 7.40-.50, then 8.00. Eventually, it may get it up to test double, all-time highs up in the 8-9 zone.

Stocks on the long side included Agios Pharmaceuticals, Inc. (AGIO), Akebia Therapeutics, Inc. (AKBA), Amarin Corporation plc (AMRN), Arrowhead Pharmaceuticals, Inc. (ARWR), Aurinia Pharmaceuticals Inc. (AUPH), Axsome Therapeutics, Inc. (AXSM), Avid Bioservices, Inc. (CDMO), Clovis Oncology, Inc. (CLVS), Eloxx Pharmaceuticals, Inc. (ELOX), GTT Communications, Inc. (GTT), InMode Ltd. (INMD), KLX Energy Services Holdings, Inc. (KLXE), Kiniksa Pharmaceuticals, Ltd. (KNSA), Luckin Coffee Inc. (LK), Neoleukin Therapeutics, Inc. (NLTX), Ovid Therapeutics Inc. (OVID), Puma Biotechnology, Inc. (PBYI), PG&E Corporation (PCG), ProQR Therapeutics N.V. (PRQR), Proteostasis Therapeutics, Inc. (PTI), Arcadia Biosciences, Inc. (RKDA), Wrap Technologies, Inc. (WRTC), and Zymeworks Inc. (ZYME).




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