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AMRS, ARRY, EOLS, LCI, LSCC, NKTR — Stock Charts to Watch

Charts of the Day video for Tuesday February 5th, 2019

AMRS, ARRY, EOLS, LCI, LSCC, NKTR

It was a pretty good day on Wall Street. Not the biggest day technically, advance-declines were solid. A lot of stocks we follow are moving, breaking out, coming through bases to declining topsline and moving averages. So, we’ll see. It’s getting to the point where some low-priced, speculative stocks are moving. That usually happens at the tail-end of a move, so you’ve got to be careful.

Amyris, Inc. (AMRS), which was a favorite of mine back when it broke out last year. It did well for awhile, and then collapsed on a bad earnings report in November. After the 5-wave decline, and a really steep declining angle, on Tuesday it made a major breakaway move, exploding 2.31, or 73%, to 5.47, on 54 million shares that took out three moving averages, declining topsline, and a couple resistance lines as well into a gap. It actually filled the gap and backed off. Worst case scenario, I think it will back and fill, set up over the next couple weeks, and then move to 7, maybe even 9. Those are my targets.

Array BioPharma Inc. (ARRY) jumped 2.07, or 11%, to 20.96, on 14.3 million shares. It popped in November, based, consolidated and exploded through the 2018 June high to 21.15, which is the highest this stock has ever gone to all-time high territory. Now, I’m looking for a move to 23 and 26 going forward.

Evolus, Inc. (EOLS) had a spectacular session on Tuesday, popping 5.33, or 26%, to 25.83, on 6.9 million shares. I gave you this a week ago at 15.90, and it reached 26.37 on Tuesday. I say that’s a good swing trade, and a good day trade, in particular. As shown on the one-minute chart, it ramped, ran, consolidated, formed a beautiful wedge pattern, and set up for a nice pop. In the overall picture and scope of things, this closed at the upper-end of the range. That was monster volume, and I think it’s going to send it higher. Targets are 29 and 35.

Lannett Company, Inc. (LCI), a swing trade of ours, popped and pulled back in December with the rest of the market, then exploded from 4.25 to 8.50, doubling, and then on Tuesday it closed up 53 cents, or 6.73%, to 8.40, on 1.4 million shares. It just recently platformed for 3-4 weeks and is breaking out again. Looking at the 10-11 zone as the next target.

Lattice Semiconductor Corporation (LSCC) bounced just 5 cents, or 0.64%, to 7.89, on 589,120 shares traded. This is a nice semiconductor company with new management and products that are selling. It has a massive inverse head-and-shoulders, it retested a couple times mid-January, held the 3 1/2 range, and now it’s moved up to resistance. The high 5 years ago was 19.19, and the high last year was in 8.90-9.20 zone, which is where I think resistance is going to be taken out. I think that if this stock takes that out, it’s headed to 11, and then 14.

Nektar Therapeutics (NKTR) looks like it’s about to take off. On Tuesday it was up 1.25, or 3%, to 43.75, on 1.2 million shares. It has a nice, long-declining channel that took it from 24 3/4, all the way up to 111, and then it came back down to 29, and change, and ran up nicely to 46 for a 17-point pop. This stock had an orderly pullback, formed a flag, held support, and held the trendline, and on Tuesday it popped out of the flag. To me, this might be the beginning for NKTR. If it gets through 49, I’m looking for a move to low-to-med 50’s, maybe even 60 at some point.

Stocks on the long side included Argan, Inc. (AGX), Allot Ltd. (ALLT), Amyris, Inc. (AMRS), Evoqua Water Technologies Corp. (AQUA), Array BioPharma Inc. (ARRY), Box, Inc. (BOX), BRF S.A. (BRFS), Codexis, Inc. (CDXS), Eldorado Gold Corporation (EGO), Evolus, Inc. (EOLS), Turtle Beach Corporation (HEAR), Horizon Pharma Public Limited Company (HZNP), Lannett Company, Inc. (LCI), Lattice Semiconductor Corporation (LSCC), Nektar Therapeutics (NKTR), Rocket Pharmaceuticals, Inc. (RCKT), SharpSpring, Inc. (SHSP), TMSR Holding Company Limited (TMSR), SCWORX, Corp (WORX), and XBiotech Inc. (XBIT).




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