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ENDP, INMD, NIO, NNVC, NVAX, UBER — Stock Charts to Watch

Charts of the Day video for Tuesday January 21st, 2020

Endo International plc (ENDP) popped 34 cents, or 5.63%, to 6.38, on Tuesday, after reaching a high of 6.54, on 11 million shares traded. At the top of the channel, the lateral resistance goes back to April-May. If it does extend, the target is 7 1/2, and beyond that, look for 8-8 1/4.

InMode Ltd. (INMD) jumped 1.94, or 4.3%, to 46.99, after running up to 47.31, on 1.4 million shares on Tuesday. It continues to move out of the falling wedge, and after backing off four days ago, it ran up to the highest closing since Dec 5, about six weeks ago. I think it’s headed to 55, and then 62.

NIO Inc. (NIO) has been running beautifully. First of all, it had a long downtrend, then a breakaway explosive move, pulled back to the channel on low volume, and now it’s been up for nine straight day. On Tuesday, it gained another 50 cents, or 11%, and after running up to an 8-month high of 5.29, it pulled back and closed up 5.17, on 180.4 million shares. It’s at resistance and may pull back, but if it pushes up through resistance, targets are 6 1/2 and 8 1/4 going forward.

NanoViricides, Inc. (NNVC), a vaccine drug, exploded 5.14, or 153%, to 8.50, on 4.4 million shares, and was up another 75 cents, or 8.83%, in after-hours. After reaching a high of 13.45 earlier in the day, it stabilized, not only at the end of the day, but in after-hours as well. My thinking is that if the trendline holds, it could very well go wave five to the upside. If it tests the 13.50 range, it’s off to the races.

Novavax, Inc. (NVAX), on drug news, formed a breakaway gap on monster volume of 64 million shares, running up 4.08, or 71%, to 9.82, not far off the session high at 9.99. It looks to me like it might have more to go. I’m looking for a test of 13 in the next couple days.

Uber Technologies, Inc. (UBER) looks like it broke out on Tuesday. After snapping back and doing a Fibonacci retracement, it ran up 2.47, or 7%, ran up to 37.80, before pulling back and closing up 37.60, on 47 million shares, and was up an additional 37 cents in after-hours. It was a big day for this stock. It looks to me like it has some resistance in here, and if it should extend, I will be looking at something around 40 as the next target.

Stocks on the long side included Avaya Holdings Corp. (AVYA), Beyond Meat, Inc. (BYND), Endo International plc (ENDP), FuelCell Energy, Inc. (FCEL), InMode Ltd. (INMD), Inseego Corp. (INSG), Repro Med Systems, Inc. (KRMD), Maxar Technologies Inc. (MAXR), Mallinckrodt Public Limited Company (MNK), MagnaChip Semiconductor Corporation (MX), NIO Inc. (NIO), Neoleukin Therapeutics, Inc. (NLTX), NanoViricides, Inc. (NNVC), Novavax, Inc. (NVAX), ObsEva SA (OBSV), Oncolytics Biotech Inc. (ONCY), Predictive Technology Group, Inc. (PRED), RadNet, Inc. (RDNT), Soliton, Inc. (SOLY), Virgin Galactic Holdings, Inc. (SPCE), Tesla, Inc. (TSLA), Uber Technologies, Inc. (UBER), and Wrap Technologies, Inc. (WRTC).

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