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CGC, EIDX, IOVA, LK, QURE, VRAY, WRTC — Stock Charts to Watch

Charts of the Day video for Tuesday December 3rd, 2019

Canopy Growth Corporation (Canopy Growth Corporation (CGC), which I’m still looking to make a big move this year, made an explosive, 3-day move to 13.21 and pulled back on lower volume. It started to pick up more volume on Tuesday, gaining 84 cents, or 4.63%, to 18.98, with a high of 19.05, on 7.5 million shares as it reversed. Once it gets up to 19 3/4, look for it to run up to 23 1/2, and then 25 and 28 1/2.

Eidos Therapeutics, Inc. (EIDX), a swing trade of ours, had a rather choppy day as it made its way up 4.25, or 7.65%, to 59.79, closing at the day’s and 52-week high at 60.41, on 323,220 shares traded. It looks like it’s going to 67, and then 75.

Iovance Biotherapeutics, Inc. (IOVA), with a big engulfing reversal bar, has taken this stock from 22.10 to Tuesday closing high and high for the day at 24.50. It popped 1.84, or 8.12%, to 24.50, on 2.5 million shares, just 9 cents short of the multi-year high. It’s at resistance. I’m looking for an extension to test the July high at 26.59. If it gets through that, I’m looking for something around 30, or better.

Luckin Coffee Inc. (LK) stair-stepped its way higher all day on Tuesday, and closed 1.72, or 5.69%, to 31.96, with a high of 32.01, on 7 million shares. It formed a breakaway gap in mid-Nov, stalled for two days, had a big run up, formed a wedge, popped, flagged, and began the fifth wave up on Tuesday. Target is 38.

uniQure N.V. (QURE) has a massive top as well. On Tuesday, it jumped 9.14, or 16.68%, to 63.92, with a high of 65.61, on 2.9 million shares. It was breaking out of everything. Resistances is at the day’s high. Let’s see if it will consolidate and move up, then move up to 72-73, or burst right up into it.

ViewRay, Inc. (VRAY) had a big pop on Tuesday, pulled back, I put a swing on it. It was up 1.04, or 31%, to 4.44, with a high of 4, on 20 million shares. I think the breakaway move is significant. Fundamental news was big on Tuesday. Resistance is at 4.88. If it gets through that area, 6 1/2 and 8 are the targets going forward.

Wrap Technologies, Inc. (WRTC) exploded on news on Tuesday. This stock engulfed and ran from 4.25 to the high of 5.20, closing up 74 cents, or 17.17%, to 5.05, on nearly 600,000 shares traded. That’s huge volume for that stock, and one of the biggest in the last year. I think it will extend. I’m looking at 5 3/4 and then 7 1/4. Those are the targets going forward.

Stocks on the long side included Ardelyx, Inc. (ARDX), Arrowhead Pharmaceuticals, Inc. (ARWR), Axsome Therapeutics, Inc. (AXSM), Coeur Mining, Inc. (CDE), Cardlytics, Inc. (CDLX), Canopy Growth Corporation (CGC), CRISPR Therapeutics AG (CRSP), Eidos Therapeutics, Inc. (EIDX), Enphase Energy, Inc. (ENPH), Iovance Biotherapeutics, Inc. (IOVA), IVERIC bio, Inc. (ISEE), Jounce Therapeutics, Inc. (JNCE), Direxion Daily Jr Gld Mnrs Bull 3X ETF (JNUG), Akerna (KERN), Lands' End, Inc. (LE), Luckin Coffee Inc. (LK), Moderna, Inc. (MRNA), PG&E Corporation (PCG), uniQure N.V. (QURE), Renewable Energy Group, Inc. (REGI), REGENXBIO Inc. (RGNX), Sorrento Therapeutics, Inc. (SRNE), Stage Stores, Inc. (SSI), ViewRay, Inc. (VRAY), Wrap Technologies, Inc. (WRTC), and Xenon Pharmaceuticals Inc. (XENE).

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