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AMRX, IQ, JNCE, REPH, SE, SONO — Stock Charts to Watch

Charts of the Day video for Thursday January 9th, 2020


Amneal Pharmaceuticals, Inc. (AMRX) looks pretty good. It popped 17 cents, or 3.76%, to 4.69, with a high of 4.73, on 1.9 million shares on Thursday. If you look at the overall structures, it has a beautiful base, broke out, and then coiled or wedged. If it breaks this pattern, I’m looking for 5 3/4, 6 1/2, 7 1/2, and ultimately to 8 1/2-9.

iQIYI, Inc. (IQ) is moving up steadily, and on Thursday it gained another 50 cents, or 2.08%, to 24.52, on 9.2 million shares traded. It had a recent breakout and a retest, and that pop is what got me interested. Now, it’s run up to the next target zone at 25.00 from the late March high, and the high on Thursday was 24.89. If it can get through there and accelerate, momentum will carry it to 28.

Jounce Therapeutics, Inc. (JNCE) ran up 26 cents, or 3.3%, to 7.97, with a high of 8.18, on 482,819 shares traded on Thursday. It made an explosive move around Dec 1, pulled back, looked like it was going to break out, backed off one more time to a triple bottom, support, and trendline all around the 7.50 range. If it holds that, targets are 10 and 13.

Recro Pharma, Inc. (REPH) got up to resistance and broke out slightly mid Jan, was not able to follow through, stalled for three days in a row, backed off to test the trendline, and 50-day moving average. On Thursday, it was up 31 cents, or 2%, to 16.78, with a high of 16.99, on 107,920 shares traded.

Sea Limited (SE) popped 37 cents, or 1%, to 40.53, with a high of 49.90, but was up 32 cents in after hours, on 3.1 million shares on Thursday. This stock was originally given to you back in March when it popped and pulled back, then ran up, made it through two targets, came back down in Aug, broke out again, and I put another swing on it. I think it will go substantially higher. I’m looking for 45-46, 47, and then around 51-52.

Sonos, Inc. (SONO) popped 42 cents, or 2.8%, to 15.36, with a high of 15.41, on nearly a million shares on Thursday. Looking back, it broke out in Aug, we put a swing on it, it pulled back after it reached its target, then tagged it several times. It was unable to get through by much, stalled for four days, and then come down to support. Ideally, I would need to see it hold right there. Going forward, the target is 14.

Stocks on the long side included First Majestic Silver Corp. (AG), Amneal Pharmaceuticals, Inc. (AMRX), Coda Octopus Group, Inc. (CODA), Cerence Inc. (CRNC), Covetrus, Inc. (CVET), Dynatrace Holdings (DT), Eldorado Gold Corporation (EGO), Immunomedics, Inc. (IMMU), Inovio Pharmaceuticals, Inc. (INO), iQIYI, Inc. (IQ), Jounce Therapeutics, Inc. (JNCE), Montage Resources Corporation (MR), Neoleukin Therapeutics, Inc. (NLTX), O-I Glass, Inc. (OI), Recro Pharma, Inc. (REPH), Cassava Sciences, Inc. (SAVA), Sea Limited (SE), Origin Agritech Limited (SEED), Sientra, Inc. (SIEN), Sonos, Inc. (SONO), XPEL, Inc. (XPEL), and Zynex, Inc. (ZYXI).




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