Charts of the Day

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AXSM, NVTA, SLCA, STNE, VKTX, ZSAN — Stock Charts to Watch

Charts of the Day video for Thursday March 21st, 2019

AXSM, NVTA, SLCA, STNE, VKTX, ZSAN

It was a really good day on Wal Street. A lot of stocks we follow and/or traded did well. Let’s take a look at a few.

Axsome Therapeutics, Inc. (AXSM), a swing trade we put out in January around the 7-7 1/2 range, made it up to 14.04 on Thursday, jumping 1.23, or 10.24%, to 13.24, on 1.9 million shares. I think it’s a little overbought short-term. It’s only been down once in the last three weeks. Keep a stop under the 11.40-50 range. If it does run, the target is 16ish.

Invitae Corporation (NVTA) has been a monster every since I gave it to you in January. It has gone from the 13-14 range up to double nearly at 26. It had a good day on Thursday as it continued to push higher, popping 71 cents, or 2.84%, to 25.75, on 1.25 million shares. The long-term channel range is perhaps 28-30.

U.S. Silica Holdings, Inc. (SLCA) has an inverse head-and-shoulders. It broke out two days ago, pulled back on Wednesday, and on Thursday it had a nice follow-through, gaining 46 cents, or 2.78%, to 16.98, on 1.36 million shares, reaching a high of 17.20. It looks like the channel up is headed for 21 and 23.

StoneCo Ltd. (STNE), a swing trade of ours, is working well. After breaking out of a wedge, it exploded 5.15, or 13.62%, to 42.95, on 5.5 million shares to the top of the channel. It may not be done yet. It looks like the angle is changing and sharply high. Looking for high 40’s next.

Viking Therapeutics, Inc. (VKTX) popped on Thursday and I put a swing on it. It was up 1.01, or 12.21%, to 9.28, on 9.5 million shares, closing just pennies off the high. It looks like it might be emerging. We’ll follow it on Friday. My targets are 12 1/2 and 15 1/2.

Zosano Pharma Corporation (ZSAN) exploded out of a wedge, climbing 57 cents, or 11.92%, to 5.35, on 2.3 million shares, and closed above the declining topsline. Let’s see if it gets a follow-through. If it gets through resistance, I’m looking at 6 1/2 and 8.00.

Stocks on the long side included Acacia Communications, Inc. (ACIA), Aerie Pharmaceuticals, Inc. (AERI), Advanced Micro Devices, Inc. (AMD), Axsome Therapeutics, Inc. (AXSM), Conagra Brands, Inc. (CAG), CareDx, Inc (CDNA), Darden Restaurants, Inc. (DRI), eHealth, Inc. (EHTH), Fluent, Inc. (FLNT), Micron Technology, Inc. (MU), NVIDIA Corporation (NVDA), Invitae Corporation (NVTA), U.S. Silica Holdings, Inc. (SLCA), Electrameccanica Vehicles Corp. (SOLO), Sorrento Therapeutics, Inc. (SRNE), StoneCo Ltd. (STNE), Veracyte, Inc. (VCYT), Village Farms International, Inc. (VFF), Viking Therapeutics, Inc. (VKTX), and Zosano Pharma Corporation (ZSAN).




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