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CRC, HRTX, MRTX, VICR — Stock Charts to Watch

Charts of the Day video for Wednesday April 25th, 2018


California Resources Corporation (CRC) continues to impress, popping another 1.54, or 6.42%, to 25.54, on 3.2 million shares on Wednesday. It’s right above the highest-high we’ve seen on this stock in a couple years. I believe that since it’s come to this level, if it doesn’t get through resistance here it could be in trouble, but I think it could make a move to get it into the high 30’s. It could be quite interesting, it holds its momentum, and if it maintains its price as oil stocks continue to run, CRC could be a leader in that group. The top of the channel comes in at around 35.

Heron Therapeutics, Inc. (HRTX) is another impressive stock, in my opinion, gaining 40 cents, or 1.32%, to 30.65, on 1.4 million shares on Wednesday. It met my 28 and 32-dollar targets from the little wedge that broke out on Wednesday. It pulled back, though, at the end of the day. I’m not sure why that occurred. There was a seller there, for sure. Bottom line is, I think that if it gets through resistance at 30.65, it will run to the mid 30’s, maybe even low 40’s.

Mirati Therapeutics, Inc. (MRTX) is acting well. It had a big engulfing day on Wednesday, reversing from 26 to 30 3/4, closing up another 2.30, or 8.17%, to 30.45, on 1.2 million shares, which is good volume for this stock. Watch resistance at 29.61. Targets will be 32 1/2-3/4, 33. If it gets through that, we’re looking at the low 40’s.

Vicor Corporation (VICR) is doing great! I love this stock and put a swing on it on Wednesday. It jumped 7.85, or 26.84%, to 37.10, the volume surged 1.1 million shares, forming a breakaway gap and closing at the upper end of the range. The long-term chart shows massive, multi-year highs taken out of a 17-year base. I’m looking for it to test the 20-year high at 56, and change. So, at 37, and change, it means we could see some follow-through.

Stocks on the long sid!e included Baytex Energy Corp. (BTE), Cray Inc. (CRAY), California Resources Corporation (CRC), Heron Therapeutics, Inc. (HRTX), Integra LifeSciences Holdings Corporation (IART), Intrepid Potash, Inc. (IPI), lrn, Mirati Therapeutics, Inc. (MRTX), QuinStreet, Inc. (QNST), Resonant Inc. (RESN), Six Flags Entertainment Corporation (SIX), Travelzoo Inc. (TZOO), and Vicor Corporation (VICR).

On the short side, stocks included Alnylam Pharmaceuticals, Inc. (ALNY), Bitauto Holdings Limited (BITA), Ebix Inc. (EBIX), iRobot Corporation (IRBT), Monster Beverage Corporation (MNST), Mazor Robotics Ltd. (MZOR),, Inc. (OSTK), Shopify Inc. (SHOP), Inc. (SOHU), LendingTree, Inc. (TREE), Triton International Limited (TRTN), TrueCar, Inc. (TRUE), Take-Two Interactive Software Inc. (TTWO), Vocera Communications, Inc. (VCRA), Weibo Corporation (WB), and YY Inc. (YY).

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