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ASYS, ICAD, INS, KRNT, VKTX, ZYNE — Stock Charts to Watch

Charts of the Day video for Thursday April 4th, 2019


It was kind of a mixed market day on Wall Street on Thursday. A lot of stocks we follow did interesting things. Let’s take a look at some of the ones we’ve highlighted here.

Amtech Systems, Inc. (ASYS) had a big drop that started at the end of 2017 around 15.00, and came all the way down to 4.02 in a 5-wave decline, built a long base, and on Thursday, it exploded with a breakaway gap, running up 61 cents, or 14.25%, to 4.89, on 6.4 million shares. That’s big volume for that stock. At this point, I’m looking for it to take out Thursday’s high at 63.4, and then make a run to 8 1/2-3/4. That’s your next target.

iCAD, Inc. (ICAD), which I put a swing on Thursday after it ran through the 4-day top, it accelerated, popping 61 cents, or 12%, to 5.74, on 353,906 shares traded. That was the biggest volume in about five weeks. If this stock accelerates, we could see 7 1/2, and then 9.00 going forward.

Intelligent Systems Corporation (INS), one of my top picks of the year, continues to mojo upward. It was another inside day, but a positive one, moving up 2.28, or 6.7%, to 36.28, on 124,930 shares traded. At this point, I would look for a run to low-to-mid 40’s.

Kornit Digital Ltd. (KRNT) is in a beautiful trend, running another 1.40, or 5.42%, to 27.22, on 461,188 shares traded, on Thursday. I do want to point out that there’s a 5-wave move in here and it may be smart for it to pull back without the aggressiveness of the higher range. You can see that the channel-up has reached the top of the longer-term channel and the short-term channel. It’s kind of a double-resistance level, but at a new all-time high. It may accelerate or it could pull back here. The support and target are in the 24ish range.

Viking Therapeutics, Inc. (VKTX) is doing well. After the base breakout, it’s working its way slowly upward, popping 9 cents to 10.32, on 3.2 million shares. I can see it stall in the 10.74 range, create some kind of rising channel, and make its way up toward the 12 1/2, range, and then eventually 15 3/4.

Zynerba Pharmaceuticals, Inc. (ZYNE), which exploded for two days, had an inside day on Thursday, but a positive one, finishing up with 32 cents, or 4.32%, to 7.72, on 4.1 million shares. I think it wants to go higher. I’m looking for a test of the double-top from Aug-Sept that comes in around 9.00. If it gets through that, you’re looking at 11 3/4.

Stocks on the long side included Amtech Systems, Inc. (ASYS), CommScope Holding Company, Inc. (COMM), DBV Technologies S.A. (DBVT), iCAD, Inc. (ICAD), Intelligent Systems Corporation (INS), Iovance Biotherapeutics, Inc. (IOVA), Kornit Digital Ltd. (KRNT), Lululemon Athletica Inc. (LULU), MediciNova, Inc. (MNOV), Moderna, Inc. (MRNA), uniQure N.V. (QURE), Soliton, Inc. (SOLY), Viking Therapeutics, Inc. (VKTX), Extraction Oil & Gas, Inc. (XOG), XPO Logistics, Inc. (XPO), and Zynerba Pharmaceuticals, Inc. (ZYNE).




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