Charts of the Day

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AMRN, ARWR, CLVS, EOLS, OSTK, ROKU — Stock Charts to Watch

Charts of the Day video for Wednesday February 27th, 2019

AMRN, ARWR, CLVS, EOLS, OSTK, ROKU

It was a mixed session on Wall Street on Wednesday, with a big drop in the morning, and a comeback in the afternoon. A lot of stocks we follow participated. There’s a lot of new ones to show you as well.

Amarin Corporation plc (AMRN) had a good day on Wednesday, up 1.17, or 5.85%, to 21.18, on 15.5 million shares, and closed at the upper end of the range. That’s good volume for this stock and it might be on its way. The breakout at the congestion zone, the 2-3 days of consolidation, and Wednesday’s pop, I think, may have it headed to retest the high at 23.14 short-term, and then 27.

Arrowhead Pharmaceuticals, Inc. (ARWR) has a beautiful base and breakout, I put a swing on it at that point, and it ran from almost 15 to 20 on Wednesday, popping 55 cents, or 2.87%, to 19.70 with a high to 19.80, on 1.6 million shares. The spike high in October was 20.31. It may test that area on Thursday. It’s a little extended, but with the rising flag and current momentum, it may very well test the September high over 22.

Clovis Oncology, Inc. (CLVS) had a beautiful pop on Wednesday, jumping 3.43, or 13%, to 29.48, on 4.5 million shares. That’s the biggest volume in a couple months on a breakout day. But I’ll take it! Right now the angle of ascent appears to be headed to the mid-to-high 30’s.

Evolus, Inc. (EOLS), one of our swing trades, went from the 14.50 level to nearly 29, nearly doubling, and formed a nice 2-3 wave corrective pullback. It broke out and advanced 1.93, or 7.65%, to 27.18, on 1.45 million shares. It may be testing as early as Thursday, the 28-28 1/2 zone, and if it gets through that then the 33-33 1/4 range. It might see 34. It has tremendous momentum.

Overstock.com, Inc. (OSTK) snapped back beautifully on Wednesday after a week of declining. It climbed 2.30, or 12.94%, to 20.08, on 6.3 million shares. That’s big volume for this stock. It closed at the upper end of the range. I still need it to take out the 23 range. If it does that, you could see 26-27.

Roku, Inc. (ROKU) has been a phenomenal swing since we gave it to you in January around the 38-39 zone, nearly doubling. On Thursday it was up 2.29, or 3.52%, to 67.37, on 9.7 million shares. It’s testing resistance up in the 38-9 area and it stalled here. It looks to me like it wants to run through it and up to 78-79.

Stocks on the long side included ACADIA Pharmaceuticals Inc. (ACAD), Amarin Corporation plc (AMRN), Arrowhead Pharmaceuticals, Inc. (ARWR), CareDx, Inc (CDNA), Chesapeake Energy Corporation (CHK), Clovis Oncology, Inc. (CLVS), California Resources Corporation (CRC), Enphase Energy, Inc. (ENPH), Evolus, Inc. (EOLS), iCAD, Inc. (ICAD), Invitae Corporation (NVTA), Overstock.com, Inc. (OSTK), Qutoutiao Inc. (QTT), Roku, Inc. (ROKU), Sea Limited (SE), StoneCo Ltd. (STNE), Supernus Pharmaceuticals, Inc. (SUPN), Tellurian Inc. (TELL), Telaria, Inc. (TLRA), Tandem Diabetes Care, Inc. (TNDM), Veracyte, Inc. (VCYT), Voyager Therapeutics, Inc. (VYGR), Xenon Pharmaceuticals Inc. (XENE), Xunlei Limited (XNET), Zogenix, Inc. (ZGNX), Zosano Pharma Corporation (ZSAN).




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