Harry's Charts of the Day videos are available nightly to members. Members please login and see Charts of the Day in the "Videos" menu dropdown.
Apache Corporation (APA), in the oil sector, is still hanging in there. On Thursday, it popped 33 cents, or 2.38%, to 14.22, after reaching a session high of 14.46, on 9.6 million shares traded, and an additional 7 cents in after-hours. You can see that it almost filled the gap, got up to the low in December, backed off, and formed a wedge as well. If it can hold this without breaking down, I would like to see it, first take out the high around 15-15 1/2, and that would signal to me that it’s on its way much higher. A move over 15 1/2 will get it to 18. If it crosses 18, then we’re looking at 20, maybe 22 and 25.
Ballard Power Systems Inc. (BLDP) on Thursday gained 35 cents, or 2.56%, to 14.00, just 2 cents off the session high at 14.02, on 1.95 million shares traded. This stock is on its way. After the big hit in March it has done nothing but moved up, for the most part. It is three waves up and might consolidate. I don’t have a problem with it coming back to 12-12 1/4, but if it does get to 14 3/4, 16 and 18 are targets.
Cloudera, Inc. (CLDR) is really looking well. After breaking through a double-top, it stalled for a couple days, and on Thursday, it nicely popped 1.07, or 8 1/2%, to 13.71, with a multi-week and session high of 13.93, on 21.3 million shares traded, and another 21 cents in after-hours. The highest level for CLDR more than a year ago was 11.65. There’s a double-top at 15 1/2. I would like to see that as the first target and the second target at 18.
Neoleukin Therapeutics, Inc. (NLTX) popped 1.76, or 13%, to 15.28, with a new multi-week and session high of 15.42, on 648,415 shares traded. You can see, this is the highest level going back two and a half years. Although there is some resistance at 17 1/2, which is my next target, I think eventually it will go much higher.
Vapotherm, Inc. (VAPO) is a beautiful chart. It broke out, pulled back in a wedge, and then broke out and ran again on Thursday, jumping 2.18, or 6%, to 38.05, with a late afternoon multi-week and session high of 38.68, on 776,676 shares traded, and another 95 cents in after-hours to 39.00 even. I have a target of high 40’s going forward.
Wrap Technologies, Inc. (WRTC) exploded on Thursday, ripping 1.27, or 15%, to 9.69, with a near-closing session high of 9.78, on 3.1 million shares traded, and another 20 cents in after-hours to 9.89. If it pops and gaps here, it may very well run quickly to the 13-14 zone.
On the long side, stocks included Acacia Research Corporation (ACTG), Adaptimmune Therapeutics plc (ADAP), Apache Corporation (APA), Arena Pharmaceuticals, Inc. (ARNA), Arvinas, Inc. (ARVN), Bed Bath & Beyond Inc. (BBBY), Ballard Power Systems Inc. (BLDP), Cloudera, Inc. (CLDR), Celldex Therapeutics, Inc. (CLDX), Eldorado Resorts, Inc. (ERI), Momenta Pharmaceuticals, Inc. (MNTA), Everspin Technologies, Inc. (MRAM), Mersana Therapeutics, Inc. (MRSN), NIO Inc. (NIO), Nautilus, Inc. (NLS), Neoleukin Therapeutics, Inc. (NLTX), Penn National Gaming, Inc. (PENN), Royal Caribbean Cruises Ltd. (RCL), Retractable Technologies, Inc. (RVP), Origin Agritech Limited (SEED), Soliton, Inc. (SOLY), Vapotherm, Inc. (VAPO), and Wrap Technologies, Inc. (WRTC).