Harry Boxer's Charts of the Day stock chart videos are available nightly to members of TheTechTrader. Members please login and see Charts of the Day in the "Videos" menu dropdown.
Allied Healthcare Products, Inc. (AHPI), which I have been following for two months, exploded at the end of February, worked its way back down, and on Monday, it reversed, going from 9.12 to Monday’s high at 13.75. It closed at the upper end of the range at 4.37, or 48%, to 13.45, on a decent 1.8 million shares traded, the biggest volume in a couple months. It looks to me like it may be breaking out, but it has to get some follow-through. If it does, we are looking at 19, 22, past mid-20’s as our targets going forward.
Apache Corporation (APA), one of our swing trades in the oil sector, is looking good despite the recent pullback. On Monday, it reversed off the 10.50 level, running up 78 cents, or 7%, to 12.06, closing just a penny off the session high of 12.07, on 18 million shares traded, with an additional 6-cent jump in after-hours. If it gets a follow-through, I will expect APA to test 12 3/4, and then 14. Beyond that, we are looking at the high teens.
Fluidigm Corporation (FLDM) exploded on Friday, and had a nice, positive inside day on Monday, gaining 44 cents, or 13%, to 3.81, after reaching a late high of 4.09, on 13.6 million shares traded. That was about 13 times the average volume. Putting a swing on it, this stock could break out of the triple-top at 4.40, run to about 6 3/4, and then eventually to 10.
REGENXBIO Inc. (RGNX) form a V-bottom mid-March, a right-hand extension, a new channel, wave three and four, and on Monday, wave five started with a pop of 5.51, or 15%, to 41.97, with a high of 42.05, on 467,144 shares traded. That was 6.50 off the low. There is some resistance. My first target is 47 1/2, and the second target is 51.
Retractable Technologies, Inc. (RVP) on Monday exploded 2.03, or 69.5%, to 4.95, just 3 cents off the session high and multi-week at 4.98, on 17.8 million shares traded and out of a wedge. On the long-term chart, you can see that this is the highest level reached on this stock since 2014 when it spiked off the 5.70 range. I suspect the near-term target may be a test of that level as early as Tuesday.
ThermoGenesis Holdings, Inc. (THMO) popped on Monday after pulling back and testing a positive session, advancing 1.21, or 11%, to 12.21, not far off the session high at 12.35, on 866,016 shares traded. Look for it to test 14, 16, and 18 going forward.
Stocks on the long side included Allied Healthcare Products, Inc. (AHPI), Apache Corporation (APA), Alpha Pro Tech, Ltd. (APT), AVEO Pharmaceuticals, Inc. (AVEO), Compugen Ltd. (CGEN), Clovis Oncology, Inc. (CLVS), Co-Diagnostics, Inc. (CODX), Fluidigm Corporation (FLDM), ImmunoGen, Inc. (IMGN), Inovio Pharmaceuticals, Inc. (INO), Direxion Daily S&P Biotech Bull 3X Shares (LABU), Moderna, Inc. (MRNA), NanoViricides, Inc. (NNVC), REGENXBIO Inc. (RGNX), Roku, Inc. (ROKU), Retractable Technologies, Inc. (RVP), ThermoGenesis Holdings, Inc. (THMO), Trillium Therapeutics Inc. (TRIL), Veritone, Inc. (VERI), Viking Therapeutics, Inc. (VKTX), Valero Energy Corporation (VLO), Wayfair Inc. (W), and Zynex, Inc. (ZYXI).