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ARNA, BZUN, NIO, SE, SSYS — Stock Charts to Watch

Charts of the Day video for Tuesday June 2nd, 2020


Arena Pharmaceuticals, Inc. (ARNA) broke out, and I put a swing on it on Tuesday. I like the look when it broke through resistance, and then it kept extending all day. It opened at 60.19, ran up 9.52, or 16.2%, and closed at 68.22, not far off the session high at 68.40, on 3.3 million shares traded. That was an exceptional day for this stock. I think it’s headed much higher, perhaps, to the mid-to-high 70’s, if not higher.

Baozun Inc. (BZUN) broke its declining topsline, and inverse head and shoulders, or right-hand extended V, and moved up 3.14, or 11%, to 32.49, after reaching a session high of 34.53, on 7.5 million shares traded, and another 11 cents in after-hours. The bottom line is it didn’t close above resistance. We will have to watch to see if this will make it up to 33 3/4. If it gets through there, targets are 37 and 39.

NIO Inc. (NIO) has a good overall look that I like. It had a big run from October to January, and backed off, but has come back nicely. After breaking out and backing off late last week, it has been coming on the last couple days. On Tuesday, it popped 44 cents, or 10.3%, to 4.70, just 3 cents off the session high at 4.73, on 81.3 million shares traded, and an additional 16 cents to 4.86 in after-hours. I’m looking for a test of 5 1/4-1/2. If it gets through that, we’re looking at the potentiality of an 8 1/2-dollar stock.

Sea Limited (SE) has had a spectacular move in the last year. I gave this stock to you last year when it was trading in the 22-3 range, and on Tuesday, it closed up 4.39, or 5.32%, to multi-week and session high of 86.86, with another move up of 34 cents in after-hours, to 87.20, on 4.7 million shares traded. The angle of ascent the way I was drawing it, leads me to believe we may see the high 90’s before we see a significant pullback.

Stratasys Ltd. (SSYS) popped on Tuesday and crossed two triple-top resistance, gaining 2.31, or 13%, to 20.30, with a session high of 20.55, and another 1.29 to 21.59 in after-hours, on 2.5 million shares traded. That’s the biggest volume on an up-day going to Sept/Oct 2018. To me, this might be a significant move, although there is some resistance at the target at 22 1/4, and then we’re looking at 25 plus.

Stocks on the long side included Adaptimmune Therapeutics plc (ADAP), Arena Pharmaceuticals, Inc. (ARNA), Baozun Inc. (BZUN), Compugen Ltd. (CGEN), DXC Technology Company (DXC), Extreme Networks, Inc. (EXTR), Genius Brands International, Inc. (GNUS), Gol Linhas Aereas Inteligentes S.A. (GOL), Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares (GUSH), NIO Inc. (NIO), Nano Dimension Ltd. (NNDM), Overstock.com, Inc. (OSTK), Precigen, Inc. (PGEN), Peloton Interactive, Inc. (PTON), Sea Limited (SE), Sasol Limited (SSL), Stratasys Ltd. (SSYS), Veritone, Inc. (VERI), Slack Technologies, Inc. (WORK), and Wrap Technologies, Inc. (WRTC).




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