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AUDC, DVAX, INMD, QTNT, RDHL, VKTX — Stock Charts to Watch

Charts of the Day video for Monday April 27th, 2020


AudioCodes Ltd. (AUDC), on fantastic news on Monday on a great earnings report and a deal with Google, rocketed. From the get-go, it exploded then consolidated and coiled all day. At the end of the day it made a little pop of 5.70, or 25%, to 28.76, after reaching the session and multi-week high of 29.39, on 2.7 million shares traded. That’s the biggest volume I’ve ever seen on AUDC. It looks to me like a stock that wants to go much higher. Completing the head and shoulders, this stock could rock here. Targets are 31 3/4, then 34-35.

Dynavax Technologies Corporation (DVAX) formed a V-bottom, with a right-hand extension, and on Monday, it popped 49 cents, or 14.4%, to 3.89, with a session high of 4.19, on 6.1 million shares traded and another 10 cents in after-hours. That is big volume for this stock. The next targets are 4 3/4, followed by 5 1/4-6.

InMode Ltd. (INMD) has a really nice-looking pattern. Another swing should probably be had here. On Monday, it jumped 1.56, or 7%, to 24.09, with a session high of 24.93, on 799,542 shares traded and an additional 14 cents in after-hours. It has a V-bottom with a platform, and the consolidation here tells me that it might explode any time now. It may have already come out of the tightening coil. Keep an eye on this one on Tuesday. If it gets to 26 1/2, it might explode.

Quotient Limited (QTNT) popped out of a wedge on Monday and gained 1.08, or 16.6%, to 7.59, not far off the 7.67 session high, on 889,219 shares traded and then a whopping 2.05 to 9.39 in after-hours. It looks like it may be headed higher on Tuesday. There is some resistance in this area, but I wouldn’t be shocked to see a run at 11-11 1/4.

RedHill Biopharma Ltd. (RDHL) had a fantastic pop on Monday, advancing 1.00, or 13%, to 8.81, before pulling back and closing up 8.60, on 1.8 million shares traded. Recent action shows that it popped out of a wedge and up to resistance that is flagging right there. If it can take that out, we are looking for a run to 11.

Viking Therapeutics, Inc. (VKTX) broke out of key resistance on Monday and popped 45 cents or 7.5%, to 6.46, with a session high of 6.60, on 1.75 million shares traded. Targets going forward are 7, 8, and 9.

Stocks on the long side included Amarin Corporation (AMRN), AudioCodes Ltd. (AUDC), Axsome Therapeutics, Inc. (AXSM), Bed Bath & Beyond Inc. (BBBY), Canopy Growth Corporation (CGC), Ceragon Networks Ltd. (CRNT), Covetrus, Inc. (CVET), CytoDyn Inc. (CYDY), Diebold Nixdorf, Incorporated (DBD), Dynavax Technologies Corporation (DVAX), Equillium, Inc. (EQ), Eldorado Resorts, Inc. (ERI), Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares (GUSH), Turtle Beach Corporation (HEAR), InMode Ltd. (INMD), Inseego Corp. (INSG), Kala Pharmaceuticals, Inc. (KALA), Livongo Health, Inc. (LVGO), Mallinckrodt plc (MNK), Nordic American Tankers Limited (NAT), Penn National Gaming, Inc. (PENN), Quotient Limited (QTNT), RedHill Biopharma Ltd. (RDHL), ProShares UltraShort Bloomberg Crude Oil (SCO), Scorpio Tankers Inc. (STNG), Tarena International, Inc. (TEDU), Tilray, Inc. (TLRY), U.S. Concrete, Inc. (USCR), Viking Therapeutics, Inc. (VKTX), and Vaxart, Inc. (VXRT).




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