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Aphria Inc. (APHA) is one of the marijuana stocks I like to pattern, meaning that it rolled over from the mid-teens, down to 3.00, and change, reversed hugely, had a 3-wave corrective pullback reversal bar, ran up to resistance, pulled back, popped, pulled back, it was very quiet Thursday and Friday, and then on Monday, it popped 37 cents, or 6%, to 6.41, on 6 million shares. I really want it to get above where it is and break it out to that 7-7 1/2 zone. Once it gets through that, you may see 9, 10, and so on. For now, we’ll have to see if it gets that thrust to break it out.
Apyx Medical Corporation (APYX) popped 87 cents, or 13%, to 7.49, on 401,882 shares traded on Monday. This is a Top 30 pick, and is in a nice-rising, channel pattern. In a 5-wave advance, it moved up from around the 2.10 area and pulled it back. I’m thinking it’s two waves up and wave three will take it to at least 10 1/2 in that zone. Looking at the long-term chart, it has a massive base, and the massive double-top is up around the 9 3/4-10 range. That’s going to be a very difficult area to get through, but that’s going to be my initial target.
Cronos Group Inc. (CRON) is another one of the marijuana stocks, one of the two I am following closely. A wedge was broken, it followed through with a pop on Monday of 62 cents, or 5.26%, to 12.40, on 5.2 million shares. The volume is decent, but not huge. Look for a test of 14 first, then 15. Beyond that, this stock could make a very big move.
Harrow Health, Inc. (HROW), formerly Imprimis Pharmaceuticals, Inc. (IMMY), broke out on Monday, gaining 51 cents, or 9.46%, to 5.90, on 424,464 shares traded. It looks like, if it gets through 6.00, you should see it run-up near 8.00.
Intelligent Systems Corporation (INS) is a beautiful stock. Absolutely stellar. On Monday, the biggest volume day since I’ve been following it, it moved another 1.13, or 7.29%, to 16.64, on 128,931 shares traded. Right now, it may be headed to 20.
Lannett Company, Inc. (LCI) jumped 1.25, or 21%, to 7.32, on 4.9 million shares on Monday. I love the pattern of this stock, I love the base, I think that if it gets up to the 8 1/2-3/4 range short-term, and if it fills the gap, we might even see this stock near 11 1/2.
Stocks on the long side included Agenus Inc. (AGEN), Aphria Inc. (APHA), Apyx Medical Corporation (APYX), Array BioPharma Inc. (ARRY), Alteryx, Inc. (AYX), CareDx, Inc (CDNA), Clovis Oncology, Inc. (CLVS), Corbus Pharmaceuticals Holdings, Inc. (CRBP), California Resources Corporation (CRC), Cronos Group Inc. (CRON), Exelixis, Inc. (EXEL), Fate Therapeutics, Inc. (FATE), Five9, Inc. (FIVN), Glu Mobile Inc. (GLUU), Direxion Dly S&P Oil&Gs Ex&Prd Bl 3X ETF (GUSH), Harrow Health, Inc. (HROW), iCAD, Inc. (ICAD), Intelligent Systems Corporation (INS), Inseego Corp. (INSG), Direxion Daily S&P Biotech Bull 3X ETF (LABU), Lannett Company, Inc. (LCI), Mirati Therapeutics, Inc. (MRTX), Materialise NV (MTLS), Invitae Corporation (NVTA), QuinStreet, Inc. (QNST), Roku, Inc. (ROKU), Atlassian Corporation Plc (TEAM), Twilio Inc. (TWLO), and XPO Logistics, Inc. (XPO).