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APT, COCP, COE, MRNA, SPEX, VIR — Stock Charts to Watch

Charts of the Day video for Tuesday February 25th, 2020

Alpha Pro Tech, Ltd. (APT), which is a manufacturer of masks and containment gowns, was up 2.86, or 40%, to 10.00, on 19 million shares on Tuesday. This stock went in Jan from about 3 3/4 to 7 3/4, more than doubled, had a five-wave decline in a nice, orderly wedge on lower volume near the apex, and then it exploded, going from 4.80 to Tuesday’s high at 10.80, 6.00 in just four sessions. It might be a little overbought short term, but it might get an extension to 12, or 13, or 14 on Wednesday. Just be careful and add in your stops.

Cocrystal Pharma, Inc. (COCP) exploded on Monday, and again on Tuesday, gaining 86 cents, or 65%, to a high of 2.50, before pulling back and closing up 2.19, on 72.5 million shares. It literally went from 50 cents to 2.50, a 400% increase in two days. That’s heavy volume. Monday it traded 78 million shares and Tuesday 72.5 million. 150 million shares traded on a stock that has an average trading volume of 1669. There’s some resistance in the 3-dollar range, so maybe it will be tested on Wednesday. Keep an eye on it Wednesday morning.

China Online Education Group (COE) is doing well right now because so many people in China are being sequestered and doing education online. On Tuesday, it was up 4.08, or 15.74%, to the session and multi-week high at 30.00, on 294,391 shares traded. It has gone from 5 to 30 since Dec in a 7-wave move. I’m not sure how much further it can go up, but the momentum is keen. It may go 5 points more to 35 before it pulls back. It’s due for some rest, but the momentum is very strong.

Moderna, Inc. (MRNA) exploded on the falling wedge with a little pop on Monday, and then a big jump on Tuesday on a breakaway gap of 5.17, or 27.8%, to 23.76, with a high of 26.55, on 63 million shares as it ships the first batch of its vaccine candidate. You can see the breakaway pop and the big move up. I have a target of 29 short term.

Spherix Incorporated (SPEX) exploded 1.41, or 137%, to 1.41, after reaching a session high at 3.69, on 24.3 million shares on Tuesday, an increase of nearly 600%. Let’s see if it will follow through. I wouldn’t be surprised to see a test of 4 1/4, and then we’ll see where we go from there.

Vir Biotechnology, Inc. (VIR) exploded from 12 to 29 the first part of Feb, pulled back into a falling wedge right to the 50, then ramped right back up on Tuesday and broke out, jumping 2.77, or 14.6%, closing at the session high at 21.73, on 734,512 shares traded, more than doubling average volume. I think 24 and 27 are the targets going forward.

Stocks on the long side included Alpha Pro Tech, Ltd. (APT), Brainstorm Cell Therapeutics Inc. (BCLI), Cocrystal Pharma, Inc. (COCP), Co-Diagnostics, Inc. (CODX), China Online Education Group (COE), the VelocityShares 3x Invrs Crude Oil ETNNew (DWT), Endo International plc (ENDP), GTT Communications, Inc. (GTT), Lakeland Industries, Inc. (LAKE), Lumber Liquidators Holdings, Inc. (LL), Moderna, Inc. (MRNA), NIO Inc. (NIO), Neoleukin Therapeutics, Inc. (NLTX), Realogy Holdings Corp. (RLGY), Spherix Incorporated (SPEX), the VelocityShares Daily 2x VIX ST ETN (TVIX), the ProShares Ultra VIX Short-Term Futures (UVXY), and Vir Biotechnology, Inc. (VIR).

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