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ARWR, AUPH, IMGN, IMMU, RAD, REPH — Stock Charts to Watch

Charts of the Day video for Thursday December 26th, 2019

Arrowhead Pharmaceuticals, Inc. (ARWR) is in a beautiful, month-long, coil that I think is about to explode. On Thursday, it popped 2.43, or 3.76%, and closed at 66.99, after reaching a high of 67.98, on 1.4 million shares. If it breaks down, my stop is under 60. If it continues higher, the next move is 73, and then we’re looking at 90 as the next target going forward

Aurinia Pharmaceuticals Inc. (AUPH) has rock-n-rolled since it exploded out of a breakaway gap in early Dec. It had a one-day pullback, reversed, and has been up nearly every day, gaining another 91 cents, or 4.44%, to 21.42, reaching a high of 21.89, on 2.8 million shares on Thursday. It’s near my target of 22. My next target is 25.

ImmunoGen, Inc. (IMGN), after pausing for a couple days, extended its move on Thursday by 34 cents, or 6.23%, to 5.80, reaching a high of 5.97, on 4.3 million shares. It looks to me like it’s headed to 7-7 1/4 next.

Immunomedics, Inc. (IMMU) also broke out of a wedge on Thursday and popped 1.17, or 5.7%, to 21.67, after reaching a high of 22.22, on 5.4 million shares. That’s the best volume for this stock in several weeks. It looks like it’s headed to 24, and then 27.

Rite Aid Corporation (RAD) broke out the first of Nov, pulled back for over six weeks before it exploded, and has in six sessions gone from 7.70 to nearly 19 1/4 on Thursday, after popping 3.05, or 19%, to 19.19, with a high of 19.22, on 26.4 million shares traded. This stock made 150% move in a week and a half on big volume. Is it overbought? Yes. Is it at resistance? Yes. I expect a little follow-through, but be careful on Friday.

Recro Pharma, Inc. (REPH) broke out of a wedge a week ago, then sat in there and coiled for three day, and then on Thursday, it popped 36 cents, or 2%, to 18.36, with a high of 18.64, on 257,753 shares traded. It looks like it wants to go higher. This swing is now targeting 24.

Stocks on the long side included Acorda Therapeutics, Inc. (ACOR), Acasti Pharma Inc. (ACST), Aldeyra Therapeutics, Inc. (ALDX), Aravive, Inc. (ARAV), Arrowhead Pharmaceuticals, Inc. (ARWR), Aurinia Pharmaceuticals Inc. (AUPH), BioDelivery Sciences International, Inc. (BDSI), Constellation Pharmaceuticals, Inc. (CNST), ImmunoGen, Inc. (IMGN), Immunomedics, Inc. (IMMU), Direxion Daily Jr Gld Mnrs Bull 3X ETF (JNUG), Maxar Technologies Inc. (MAXR), Nordic American Tankers Limited (NAT), NewLink Genetics Corporation (NLNK), Novan, Inc. (NOVN), Oncolytics Biotech Inc. (ONCY), Prothena Corporation plc (PRTA), Rite Aid Corporation (RAD), Recro Pharma, Inc. (REPH), Stage Stores, Inc. (SSI), and Tetraphase Pharmaceuticals, Inc. (TTPH).

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