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American Well Corporation (AMWL), a recent IPO, on Tuesday popped 2.86, or 8.7%, to 35.86, with a session high of 38.45, on 5.9 million shares traded. On an hourly basis, AMWL came down after the IPO, popped and consolidated in a range between 26 1/2 and 31, and then went vertical all the way up to the high on Tuesday. It looks like a wedge forming. On the overall chart pattern, if it should test the high, it may move into the low 40’s.
ChromaDex Corporation (CDXC) on Tuesday exploded 1.12, or 27.5%, to 5.19, with a session high of 5.49, on 3.1 million shares traded, and then increased 36 cents in after-hours, taking it to 5.55. That’s the biggest volume in a long time on this stock. If it gets through the double top, 6 1/2 and 7 1/4 are the targets.
IDT Corporation (IDT) popped two days ago on a breakaway move, had an inside day on Monday, and followed through on Tuesday, with a move up of 1.16, or 11.6%, to 11.16, taking it from 10.32 to a session high of 11.86, on 759,069 shares traded. There is some resistance at the triple top. Should it get through that, 13 is the target, and then maybe 16.
Plug Power Inc. (PLUG) also looks like a good swing. On Tuesday it popped 49 cents, or 3.1%, to 16.23, with a session high of 16.50, on a whopping 43.5 million shares traded. Mid-channel target is 17, and up-channel target is 23 going forward.
Personalis, Inc. (PSNL), a new swing on Tuesday, broke through a double top out of a trading range, and jumped 3.93, or 15%, to 28.20, with a session high of 28.42, on 1.7 million shares traded. I’m now thinking 34 as the next target.
On the long side, stocks included American Superconductor Corporation (AMSC), American Well Corporation (AMWL), Bloom Energy Corporation (BE), BioNTech (BNTX), ChromaDex Corporation (CDXC), Celldex Therapeutics, Inc. (CLDX), Endo International plc (ENDP), Humanigen, Inc. (HGEN), IDT Corporation (IDT), Invitae Corporation (NVTA), Owens & Minor, Inc. (OMI), Pacific Ethanol, Inc. (PEIX), Plug Power Inc. (PLUG), Polar Power, Inc. (POLA), Personalis, Inc. (PSNL), Quanterix Corporation (QTRX), ReneSola Ltd (SOL), SPI Energy Co., Ltd. (SPI), TG Therapeutics, Inc. (TGTX), and Westwater Resources, Inc. (WWR).