ADAP, DNLI, PENN, VXRT, WKHS -- Stock Charts to Watch

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ADAP, DNLI, PENN, VXRT, WKHS -- Stock Charts to Watch

Charts of the Day video for Monday September 14th, 2020

Adaptimmune Therapeutics (ADAP) exploded at the end of May, and since then it’s been in a slow, downward channel. On Monday it popped out and moved up 1.48, or 18.6%, to 9.42, with a session high of 10.11, and the volume increasing dramatically to 2.9 million shares traded. It could be the beginning of a pop that takes it above key resistance at about 10.40, and then the next target is 10 1/2.

Denali Therapeutics Inc. (DNLI), after popping a month ago, consolidated in a coil, and on Monday it broke out, ran up 4.08, or 13%, to 36.07, with a session high of 36.12, the volume increasing to 2.1 million shares traded. I like the looks of this for a move to 40.

Penn National Gaming, Inc. (PENN) had a nice pop on Monday after popping out of a flag two days ago and pulling back. It then settled back to retest the top of that pattern, and spiked back up again, going from 58 to 66, closing up 6.35, or 11%, to 65.54, with a session high of 65.93, on 11 million shares traded. This looks like an 80-dollar stock coming up.

Vaxart, Inc. (VXRT) snapped back out of a 3-wave-corrective down channel right to the trendline on Friday, and then snapped back on Monday. It moved up 2.48, or 47%, to 7.78, with a session high of 8.47, on a whopping 203 million shares traded. That is monster volume! The last time it had that kind of volume, it had a follow-through day. Look for 12 next.

Workhorse Group Inc. (WKHS) is on its way, it appears. It has broken out of a key resistance level on Monday, jumping another 2.37, or 10%, to 26.06, with a session high of 26.23, on 31.6 million shares traded. I think this stock could go into the high 30’s, maybe low 40’s at this point. It certainly is powerful!

On the long side, stocks included Adaptimmune Therapeutics plc (ADAP), BioLife Solutions, Inc. (BLFS), Century Aluminum Company (CENX), Caesars Entertainment, Inc. (CZR), DraftKings Inc. (DKNG), Denali Therapeutics Inc. (DNLI), DiamondPeak Holdings Corp. (DPHC), GrowGeneration Corp. (GRWG), Iovance Biotherapeutics, Inc. (IOVA), Intra-Cellular Therapies, Inc. (ITCI), Direxion Daily S&P Biotech Bull 3X Shares (LABU), Lithium Americas Corp. (LAC), Maxar Technologies Inc. (MAXR), MacroGenics, Inc. (MGNX), Mersana Therapeutics, Inc. (MRSN), NantKwest, Inc. (NK), Nikola Corporation (NKLA), Pacific Ethanol, Inc. (PEIX), Penn National Gaming, Inc. (PENN), Cassava Sciences, Inc. (SAVA), Scientific Games Corporation (SGMS), Spartan Energy Acquisition Corp. (SPAQ), Sorrento Therapeutics, Inc. (SRNE), Surface Oncology, Inc. (SURF), TRACON Pharmaceuticals, Inc. (TCON), Trillium Therapeutics Inc. (TRIL), Vaxart, Inc. (VXRT), and Workhorse Group Inc. (WKHS).