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CBLI, COE, GILD, MRNA, NNVC, VIR — Stock Charts to Watch

Charts of the Day video for Wednesday February 26th, 2020


Cleveland BioLabs, Inc. (CBLI) popped out of a falling wedge on Tuesday, followed through on Wednesday, popping 1.11, or 48.68%, to 3.39, after reaching a late afternoon high of 4.90, on 4 million shares traded. That’s the best volume in about 3-4 weeks. I think it’s going to run up and test the highs at 4 1/2, and it may blow through that. It depends on the momentum.

China Online Education Group (COE), which we highlighted on Tuesday, was up 4.84, or 16%, to 34.84, after reaching up past my target high of 35, to a high of 36.17, on 597,353 shares traded, and in after hours it’s up 53 cents, or another 1.50%, to 35.36. This stock moved from the Dec lows at about 5 1/2 to Wednesday’s high at 36. It’s long-in-the-tooth and spiking up on volume. I would exit this stock on any additional up-move in here.

Gilead Sciences, Inc. (GILD), another biotech stock that is working with the government, broke out on Tuesday, pulled back, and on Wednesday, it exploded 4.60, or 6.56%, to 74.70, reaching as high as 75.46 a half hour before closing, on a strong 31 million shares traded. I think it’s headed to 78-79 next.

Moderna, Inc. (MRNA), after popping 5.17 on Tuesday, popped another 5.40 on Wednesday, or 22.73%, going from 27.09 to 29.98, before pulling back and closing up 29.16, on 75 million shares traded. That’s over 10.50 and nearly 150 million shares traded in two days. Is it at resistance? Yes. It could pull back and consolidate, but if it does get through here, it could see mid-30’s on Thursday.

NanoViricides, Inc. (NNVC) popped out of a wedge, pulled back, and then came on again on Wednesday, gaining 1.27, or 16%, to 9.17, with a high of 9.89, on 4.8 million shares traded. It needs to extend past 10.90 to really get going. If it does, it will probably get up to 18 going forward.

Vir Biotechnology, Inc. (VIR) broke out on Tuesday, taking it up to 21, and on Wednesday it flew by my targets of 24 and 27, exploding 13.24, or 61%, to session and multi-week highs at 36.50, before closing up 34.97, on 3.9 million shares traded, and adding another 2.53, or 7.22%, to 37.50 in after hours. I don’t know how much more it got to go, but I wouldn’t be surprised to see 40 Thursday morning.

Stocks on the long side included Allied Healthcare Products, Inc. (AHPI), Alpha Pro Tech, Ltd. (APT), Atomera Incorporated (ATOM), BioXcel Therapeutics, Inc. (BTAI), Cleveland BioLabs, Inc. (CBLI), Co-Diagnostics, Inc. (CODX), China Online Education Group (COE), the VelocityShares 3x Inverse Crude S&P GSCI Crude Oil Index (DWT), Gilead Sciences, Inc. (GILD), Lakeland Industries, Inc. (LAKE), Moderna, Inc. (MRNA), NanoViricides, Inc. (NNVC), Novavax, Inc. (NVAX), Purple Innovation, Inc. (PRPL), Tarena International, Inc. (TEDU), and Vir Biotechnology, Inc. (VIR).

On the short side, stocks included Aaron's, Inc. (AAN), Arch Coal, Inc. (ARCH), Aramark (ARMK), Core Laboratories (CLB), CVR Energy, Inc. (CVI), Delek US Holdings, Inc. (DK), MGP Ingredients, Inc. (MGPI), Roku, Inc. (ROKU), Six Flags Entertainment Corporation (SIX), TripAdvisor, Inc. (TRIP), and Tractor Supply Company (TSCO).




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