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AVXL, COLL, FSLR, LUNA, PRPL, TNDM, XENE — Stock Charts to Watch

Charts of the Day video for Wednesday February 12th, 2020

Anavex Life Sciences Corp. (AVXL) has a big inverse head-and-shoulders and the neckline is broken. On Wednesday, it did pop 40 cents, or 9.29%, to 4.57, reaching a high of 4.91, on 2.4 million shares traded. All it needs to do now is get through the Sept-Oct double-top up around the 5.15 range and this stock could rip. Targets is 6 1/2, 8, and then we’ll see if it will go further.

Collegium Pharmaceutical, Inc. (COLL) had a really-nice snapback after the two-day pullback on Wednesday as it jumped 1.95, or 9%, to 24.16, with a high of 24.30, on 2.8 million shares traded. This one looks like it’s headed toward 27 and 29ish next.

First Solar, Inc. (FSLR) was put out as a swing. I believe that the solar group is moving, and we’ve got to be the leader. It reached up to the declining topsline, lateral-price resistance, and the gap, gaining 2.59, or 4.85%, to 56.12, just a nickel off Wednesday’s high at 56.17, on 2.5 million shares traded. Let’s see if it can punch up through here. The first target is the double-top at 59, and the second target is up around 62-63.

Luna Innovations Incorporated (LUNA) has be on a tear for about three years, and in this last, strong year, it went from about 2.65 all the way up to Wednesday’s high at 9.32, before pulling back and closing up 46 cents, or 5.36%, to 9.04, on 392,746 shares traded. It’s doing great. There’s some resistance up near 10-10 1/2, which is my next target zone.

Purple Innovation, Inc. (PRPL) has been on my swing-trade list since the 7’s, and on Wednesday, it was up 54 cents, or 4%, to 14.20, just 8 cents off the session and all-time high at 14.28, on 383,499 shares traded. The next target is 16.

Tandem Diabetes Care, Inc. (TNDM) is working. It popped and pulled back, got very quiet, broke out, had an inside day on Tuesday, and jumped 2.33, or 3%, to 81.05, after running up to the session high at 82.59, on 1.8 million shares traded on Wednesday. That’s also a new all-time high. I think this stock will head for 98-100 next.

Xenon Pharmaceuticals Inc. (XENE) ran up to new highs in mid-Jan, had a pretty ugly pullback to the 50, bounced, had an inside day, started to move two days ago, and on Wednesday, it spiked 1.78, or 12%, to 17.18, reaching a high of 18.10, on 565,184 shares traded. I’m looking for a run to about the 19-range, and then potentially 23 1/2 going forward.

Stocks on the long side included Anavex Life Sciences Corp. (AVXL), Collegium Pharmaceutical, Inc. (COLL), Cerence Inc. (CRNC), Canadian Solar Inc. (CSIQ), eGain Corporation (EGAN), First Solar, Inc. (FSLR), Grayscale Bitcoin Trust (BTC) (GBTC), JinkoSolar Holding Co., Ltd. (JKS), Luna Innovations Incorporated (LUNA), Invitae Corporation (NVTA), Progyny, Inc. (PGNY), Purple Innovation, Inc. (PRPL), Virgin Galactic Holdings, Inc. (SPCE), SunPower Corporation (SPWR), Teva Pharmaceutical Industries Limited (TEVA), Tandem Diabetes Care, Inc. (TNDM), 21Vianet Group, Inc. (VNET), Vivint Solar, Inc. (VSLR), and Xenon Pharmaceuticals Inc. (XENE).

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