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ARWR, NVCR, EDIT, SEDG — Stock Charts to Watch

Charts of the Day video for Thursday September 6th, 2018


Arrowhead Pharmaceuticals, Inc. (ARWR) had a fantastic day on Thursday, exploding at one point to over 22.00, finishing up 5.29, or 37 1/2%, to 19.39, on 28 million shares. This is the biggest volume I’ve ever seen on this stock. It did back off to finish 3 points off the high. It’s at the top of the channel and may need some consolidation. I believe this stock may see the high 20’s.

NovoCure Limited (NVCR) made a beautiful move out of the consolidation zone, coiled, popped, formed a little wedge, broke out, retested, got to the double top, ran up, an on Thursday it was up another 2.30, or 5.34%, to 45.40, on 2.3 million shares. That’s the best volume on this stock since April. It may accelerate and get into the low 50’s.

Stocks on the Short Side….

Editas Medicine, Inc. (EDIT) broke down from a topping pattern, formed a rising wedge, and on Thursday it broke down another 1.99, or 6.22%, to 30.01, on 544,820 shares traded. My target is a retest of 25 1/2-6, and then 22 1/2-3.

SolarEdge Technologies, Inc. (SEDG) continues to be a Boxer Short that looks terrible. It was down another 1.75, or 3.70%, to 45.55, on 588,480 shares traded on Thursday. A wedge is forming that looks like it’s rolling over. If it breaks this pattern it may very well get into the high 30’s.

Stocks on the short side included Arrowhead Pharmaceuticals, Inc. (ARWR), Casella Waste Systems, Inc. (CWST), Funko, Inc. (FNKO), Hortonworks, Inc. (HDP), Idera Pharmaceuticals, Inc. (IDRA), insg, Invuity, Inc. (IVTY), MongoDB, Inc. (MDB), NovoCure Limited (NVCR), Stitch Fix, Inc. (SFIX), Six Flags Entertainment Corporation (SIX), and Verint Systems Inc. (VRNT).

On the short side, stocks included Adsivanced Energy Industries, Inc. (AEIS), Cutera, Inc. (CUTR), Editas Medicine, Inc. (EDIT), FirstCash, Inc. (FCFS), Magna International Inc. (MGA), SolarEdge Technologies, Inc. (SEDG), Shutterfly, Inc. (SFLY), SMART Global Holdings, Inc. (SGH), Scientific Games Corporation (SGMS), SINA Corporation (SINA), Tailored Brands, Inc. (TLRD), Ultra Clean Holdings, Inc. (UCTT), Weibo Corporation (WB), Weight Watchers International, Inc. (WTW), and DENTSPLY SIRONA Inc. (XRAY).

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