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AXSM, LUNA NKTR, NTNX STNG, WRTC — Stock Charts to Watch

Charts of the Day video for Wednesday November 20th, 2019


Axsome Therapeutics, Inc. (AXSM) was a beautiful swing for us back in February when it went from the 6.00 range up to the 30’s, then it rolled over hard in October, taking out a lot of stops. It has really come back since then, forming a V bottom with a reversal bar, then formed a right hand extension, exploded, tested support in that zone twice before spiking up on Wednesday, 2.28, or 7.49%, to 32.71, on 1.5 million shares, reaching a new all-time high at 32.88. I think we’re going to see this stock move into the 40 and 50 zones at some point.

Luna Innovations Incorporated (LUNA) popped out of a wedge on Wednesday, gaining 46 cents, or 7.11%, to 6.93, with a high of 6.99, on 1.26 million shares. That’s the biggest volume on an up day I think I’ve ever seen on this stock, or at least going back a couple years. At this point, the long-term channel top might extend. Target is in the 8 1/2-9 zone, maybe 10.

Nektar Therapeutics (NKTR) had a big snapback after a breakout retest, took out some stops and came right back again, jumping 1.62, or 8.85%, to 19.93, reaching a high of 19.99, on 3 million shares. Now, I’m looking for the spike high at 22 1/2 followed by 25 on Wednesday.

Nutanix, Inc. (NTNX) is coming on nicely after popping two days ago and consolidating. It popped again on Wednesday, jumping 1.21, or 4.22%, to 29.90, with a high of 30.54, on 3.2 million shares. It did back off the 30 1/2 area where there is some resistance going back to May when it was filling in the gap. My next target is 341/2, and then 37-8.

Scorpio Tankers Inc. (STNG), one of our old swings from back in April when it exploded out of the base, continues to move up as the shipping sector is improving. On Wednesday, it gained another 1.43, or 4.42 %, to 33.81, with a high of 1.6 million shares. If it will move up to 34.60 on Thursday, it could retest the 37 range, and then the target is 40.

Wrap Technologies, Inc. (WRTC) exploded up to resistance a few sessions ago, backed off, and then came on strong on again on Wednesday, popping 34 cents, or 8.92%, to 4.15, with a high of 4.27, on 191,655 shares traded. Resistance is at 4.85, which is my immediate target, and then I’m looking for 5 3/4 going forward.

Stocks on the long side included Akcea Therapeutics, Inc. (AKCA), Alnylam Pharmaceuticals, Inc. (ALNY), Avadel Pharmaceuticals (AVDL), Axsome Therapeutics, Inc. (AXSM), Cloudera, Inc. (CLDR), Cornerstone Building Brands, Inc. (CNR), Eloxx Pharmaceuticals, Inc. (ELOX), EverQuote, Inc. (EVER), IVERIC bio, Inc. (ISEE), Kiniksa Pharmaceuticals, Ltd. (KNSA), Luna Innovations Incorporated (LUNA), Lexicon Pharmaceuticals, Inc. (LXRX), Nektar Therapeutics (NKTR), Nutanix, Inc. (NTNX), Pacific Biosciences of California, Inc. (PACB), ProQR Therapeutics N.V. (PRQR), Scorpio Tankers Inc. (STNG), and Wrap Technologies, Inc. (WRTC).




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