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MRSN, PAAS, WORK, ZYXI — Stock Charts to Watch

Charts of the Day video for Thursday May 28th, 2020


Mersana Therapeutics, Inc. (MRSN) exploded on Wednesday and had a big follow-through on Thursday, with a pop of 1.50, or 8.25%, to 19.69, after reaching a multi-week and midday session high of 20.75, on 13.9 million shares traded. I think this stock wants to go higher. The near-term target is 24.

Pan American Silver Corp. (PAAS) ramped up 81 cents, or 3.1%, to 26.93, on Thursday, with a morning session high of 27.85, on 4.7 million shares traded and a 27-cent move up to 27.20 in after-hours. If it gets above the triple top at 28, it could move to 30-30 1/2, maybe 32.

Slack Technologies, Inc. (WORK) popped and made a new high on Thursday and then back off, but still up 43 cents, or 1.34%, to 32.54, with a session high of 33.73, on 11.6 million shares traded and then an additional 6 cents to 32.63 in after-hours. Nevertheless, it’s at key support and the breakout point right about 30. If it gets through that, targets are 35 and 38.

Zynex, Inc. (ZYXI), which had a really big run from 7.94 around mid-March to a recent high of 22.75. That’s about a 200% increase in a very short period of time. It has now moved into a wedge pattern, and on Thursday, popped 48 cents, or 2.6%, to 18.93, with a late afternoon session high of 19.94 and a plunge to 18.92, on 689,049 shares traded and then a pop of 7 cents to 19.00 in after-hours. Obviously, key support for me is 17 1/2. I do not want it below that. Resistance is at 22 3/4. If it moves up and out of here, another wave might take it to low-to-mid 30’s, but right now 22 3/4 and the 25-26 range.

Stocks on the long side included Apache Corporation (APA), Allegheny Technologies Incorporated (ATI), Axovant Gene Therapies Ltd. (AXGT), Bed Bath & Beyond Inc. (BBBY), Ballard Power Systems Inc. (BLDP), Cloudera, Inc. (CLDR), Evofem Biosciences, Inc. (EVFM), MacroGenics, Inc. (MGNX), Mersana Therapeutics, Inc. (MRSN), Pan American Silver Corp. (PAAS), Purple Innovation, Inc. (PRPL), Retractable Technologies, Inc. (RVP), Slack Technologies, Inc. (WORK), and Zynex, Inc. (ZYXI).




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