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ARWR, LGCY, P, SMTC — Stock Charts to Watch

Charts of the Day video for Wednesday May 9th, 2018


Arrowhead Pharmaceuticals, Inc. (ARWR) made an explosive-type move on Wednesday, jumping 1.25, or 16%, to 9.00, on 5.66 million shares, which is one of the biggest volume’s all year. That move breaks it out of a multi-month consolidation coil that it was in. There’s a breakaway gap to resistance. At this point, even though it’s at the channel top, I’m thinking the channel might expand itself. I would be looking for more upside, perhaps, something up towards 13, which is my target going forward.

Legacy Reserves LP (LGCY) has a beautiful chart. This swing trade continues to give after breaking out of a flag, and then it broke out again, popping 71 cents, or 11%, to 7.20, on 1.25 million shares on Wednesday. Targets are 8.00, and then 10-11 going forward.

Pandora Media, Inc. (P) popped 33 cents, or 4.6%, to 7.50, on 13 million shares on Wednesday. After the breakaway gap, I put a swing on it because of the break in the declining topsline and the base. With the breakaway gap, I would love to see a consolidation for a bit, and have it run to 8 1/2, and then near 10. Those are my targets.

Semtech Corporation (SMTC) had a swing put on it today as it broke out 1.30, or 3%, to 43.50, on 361,400 shares traded on Wednesday, across key resistance. Now it needs to take out the recent highs at 44.85. If it does that, and it may do it as early as Thursday, I’m looking at high 40’s, and then low-to-mid 50’s.

Stocks on the long side included Axon Enterprise, Inc. (AAXN), Adaptimmune Therapeutics plc (ADAP), Arrowhead Pharmaceuticals, Inc. (ARWR), Blucora, Inc. (BCOR), DMC Global Inc. (BOOM), Box, Inc. (BOX), Cerus Corporation (CERS), PolarityTE, Inc. (COOL), Endocyte, Inc. (ECYT), fosl, ftnt, Intelsat S.A. (I), Legacy Reserves LP (LGCY), Pandora Media, Inc. (P), Impinj, Inc. (PI), REGENXBIO Inc. (RGNX), Semtech Corporation (SMTC), Square, Inc. (SQ), Supernus Pharmaceuticals, Inc. (SUPN), TripAdvisor, Inc. (TRIP), Twilio Inc. (TWLO), Travelzoo (TZOO), USA Technologies, Inc. (USAT), and VASCO Data Security International, Inc. (VDSI).

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