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Arrowhead Pharmaceuticals, Inc. (ARWR) is one of our swing trades that I just put on Tuesday because I have been following this stock for years. I like the way it is acting, particularly, I liked the triple-top breakout. It had a nice follow-through on Wednesday, with a move up of 1.98, or 3.62%, to 56.72, on over 2 million shares traded, and ran all the way up to the session high at 58.59 before backing off. I think, at some point, it is going to move into the mid-60’s, even to 70.
Calix, Inc. (CALX) is another stock that I just put a swing on. I love the way it is acting. It had a major breakaway gap on big volume on Wednesday. Although it did not finish at the high for the day, it still jumped 4.33, or 20.50%, to 25.45, with a session high of 27.78, on 5.6 million shares traded. That is the biggest volume I have ever seen on this stock. For a breakout day this was excellent. My targets are 30 and 34.
Telefonaktiebolaget LM Ericsson (ERIC) had a major breakaway move on Wednesday, and exploded 1.31, or 11.77%, to 12.44, with a session high of 12.48, on a huge 22.2 million shares traded, and closed at the upper end of the range. That is a very bullish sign. The breakaway gap itself is almost above the triple top. Wednesday’s move tells me it has momentum, and it may see 13, even 14 going forward.
Pinterest, Inc. (PINS) on Wednesday jumped 4.06, or 8.96, to 49.38, with a session high of 52.05, on a hefty 45.3 million shares traded with the OBV at the highs confirming. I am now looking for an extension to 58-60 on PINS.
Twitter, Inc. (TWTR) had a big pop on Wednesday of 3.89, or 8.39%, to 50.24, with a session high of 50.53, on 30.3 million shares traded. It is now at the top of the channel near lateral resistance, but the way it looks right now, I am not clear that this stock can accelerate to the mid to high 50’s.
On the long side, stocks included Aemetis, Inc. (AMTX), Arrowhead Pharmaceuticals, Inc. (ARWR), Calix, Inc. (CALX), CBAK Energy Technology, Inc. (CBAT), Cambium Networks Corporation (CMBM), Corsair Gaming, Inc. (CRSR), 3D Systems Corporation (DDD), Telefonaktiebolaget LM Ericsson (ERIC), Grayscale Bitcoin Trust (BTC) (GBTC), GameStop Corp. (GME), GrowGeneration Corp. (GRWG), Jumia Technologies AG (JMIA), Marathon Patent Group, Inc. (MARA), Allscripts Healthcare Solutions, Inc. (MDRX), Magnite, Inc. (MGNI), Organovo Holdings, Inc. (ONVO), Phreesia, Inc. (PHR), Pinterest, Inc. (PINS), Riot Blockchain, Inc. (RIOT), Sibanye Stillwater Limited (SBSW), Selecta Biosciences, Inc. (SELB), Snap Inc. (SNAP), Twitter, Inc. (TWTR), and 21Vianet Group, Inc. (VNET).