Charts of the Day

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AMRN, CRC, FATE, GERN — Stock Charts to Watch

Charts of the Day video for Monday September 24th, 2018

AMRN, CRC, FATE, GERN

Amarin Corporation plc (AMRN) had a big day on Monday on fantastic drug news, jumping 9.41, or 315%, to 12.40, on 162 million shares. It ran up and pulled back on Monday morning, based out, ran up sharply into the close, and then in after hours it’s in a bull coil that tells me this stock is not done yet by any means. I think, on a swing trade this is going to be 15 and 18. It could quickly run up to 14-15. My targets are at 15 1/2-16, and then the 19 1/2-20 zone.

California Resources Corporation (CRC) is fantastic and one of the best performing stocks all year. A year ago in August, this stock was under 7.00, it ran up to 22, and change, dropped down into the high teens, exploded to the high 40’s, dropped back down into the high 20’s, and is running again, popping 6.98, or 18%, to 46.58, on 6 million shares on Monday. If I’m not mistaken, this stock is headed for a breakout above the 49-range, and then a run into the mid 60’s, low 70’s eventually.

Fate Therapeutics, Inc. (FATE) broke out on Monday, gaining 1.71, or 12%, to 16.28, on 1.8 million shares. A current swing of ours, it almost looks like it’s going to break to 25. My targets right now are 20 and 25 going forward. It has a right-handed extended V, an inverse head-and-shoulders, and a breakout with volume.

Geron Corporation (GERN) popped 74 cents, or 13 1/2%, to 6.20, on 12 million shares on Monday. It’s looking better. My target was 6.85-90. Now I’m looking at 8 1/2-9 going forward.

Stocks on the long side included Aurora Cannabis Inc. (ACBFF), Canopy Growth Corporation (CGC), AcelRx Pharmaceuticals, Inc. (ACRX), Akcea Therapeutics, Inc. (AKCA), Advanced Micro Devices, Inc. (AMD), Amarin Corporation plc (AMRN), Arrowhead Pharmaceuticals, Inc. (ARWR), Boston Scientific Corporation (BSX), California Resources Corporation (CRC), Dicerna Pharmaceuticals, Inc. (DRNA), Ecopetrol S.A. (EC), Fate Therapeutics, Inc. (FATE), Geron Corporation (GERN), Idera Pharmaceuticals, Inc. (IDRA), Omeros Corporation (OMER), uniQure N.V. (QURE), TransEnterix, Inc. (TRXC), Vericel Corporation (VCEL), Viking Therapeutics, Inc. (VKTX), Intrexon Corporation (XON), and Zafgen, Inc. (ZFGN).




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