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ARQL, HROW, PYX, WKHS, XNCR — Stock Charts to Watch

Charts of the Day video for Tuesday June 25th, 2019

It was another really bad day on Wall Street on Tuesday, but the technicals weren’t as bad as the price looked. I don’t know what that means yet, but we’ll see. A lot of the stocks we follow may, or are, swinging. In the meantime, let’s take a look at a few we highlighted here along with the charts.

ArQule, Inc. (ARQL) is in a beautiful uptrend. It had the breakaway move a week and a half ago, and now it’s in a beautiful rising channel or flag. On Tuesday, it was up 81 cents or 8%, to 10.82, on nearly 13 million shares. That’s a significant increase in volume. If it could get through resistance, it could blow. It’s at the highest level in 17 years. The next target has to be up around 11 1/2, and 13. Keep your eye on this one going forward.

Harrow Health, Inc. (HROW) has been up for nine days in a row. On Tuesday, it popped 35 cents, or 4.62%, to 7.92, on 652,442 shares traded. The volume is excellent and it did break out. I’m still looking for more upside to 9-9 1/2-10 before it pulls back. At least that appears to be what is happening.

Pyxus International, Inc. (PYX) has a new swing I put on it on Tuesday. It had a nice pop of 3.61, or 27%, to 17.04, on 3.4 million shares. That’s huge volume for a stock that averages 638,681. I’m looking for a test around 20 1/2-21. If it gets through that, I’m looking at targets at 23 1/2, and then 26.

Workhorse Group Inc. (WKHS) is looking well. It had a large ascending wedge after an explosive move in May and has a flag that really looks juicy. It popped out of the wedge to gain 21 cents, or 8%, to 2.85, on 3.7 million shares. I think this stock is going to make a run at 3-3 3/4. If it gets through that, 3-3 3/4, and then 5, are our targets.

Xencor, Inc. (XNCR) has spent about nine months consolidating in a declining channel. It popped out and retested, forming a base, and then had breakaway gap on Tuesday of 4.69, or 14%, to 38.56, on 1.9 million shares. That is massive volume for this stock. It tells me it needs to break out and run. The next target is 43, and then, ultimately, a retest of the high at 48 is my target.

Stocks on the long side included ArQule, Inc. (ARQL), Dova Pharmaceuticals, Inc. (DOVA), e.l.f. Beauty, Inc. (ELF), Harrow Health, Inc. (HROW), Hydrogenics Corporation (HYGS), MeiraGTx Holdings (MGTX), Melinta Therapeutics, Inc. (MLNT), Natera, Inc. (NTRA), Pyxus International, Inc. (PYX), Riot Blockchain, Inc. (RIOT), Workhorse Group Inc. (WKHS), and Xencor, Inc. (XNCR).

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