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Arrowhead Pharmaceuticals, Inc. (ARWR), one of our swing trades, has been acting great since the breakout and swing I put on it around the 50-51 range. On Tuesday it moved up 2.59, or 4.38%, to 61.69, to a session high of 62.75, on 1.4 million shares traded. It looks like it is going to hit my secondary target in the high 60’s, maybe 70’s.
Denali Therapeutics Inc. (DNLI), which we have been following for a while, had a strong move off the March lows down around 12.40 to the nominal new high on Tuesday at 45.95. It jumped 3.80, or 9%, to 45.88, after running up to this, on 786,468 shares traded. This stock has almost quadrupled with multiple waves up. Notice that this stock broke out of a wedge back in September and triggered a move that probably should have been a swing trade. It is at resistance. It had the highest close ever on Tuesday with rising OBV. I am looking for more upside to the immediate target at 49-50.
Harley-Davidson, Inc. (HOG) is another stock that has been acting favorably, not only on earnings but on a big deal in India. This stock popped 6.40, or 22.07%, to 35.40, with a session high of 37.20, on 41.4 million shares traded. That is a clean breakout. There is some resistance in here, but I am looking for a follow-through to 41-42.
Scholar Rock Holding Corporation (SRRK) closed up 16.30, or 118.8%, to 30.02, with a session high of 31.69, on a whopping 50.4 million shares traded and an after-hours huge gain of 3.48, taking it to 33.50. Net-net it had a monstrous break out of a long base to new all-time highs. This should lead to higher levels, so I am looking for something in the 40’s.
Shutterstock, Inc. (SSTK) also popped on a breakaway gap on Tuesday on a big upmove of 7.36, or 11.82%, to 69.63, with a session high of 70.60, on 897,428 shares traded. The OBV is rising. A channel may be forming. Look for something, at least, in the 75-78 range.
On the long side, stocks included Arrowhead Pharmaceuticals, Inc. (ARWR), Cogent Biosciences, Inc. (COGT), Corsair Gaming, Inc. (CRSR), Denali Therapeutics Inc. (DNLI), Eton Pharmaceuticals, Inc. (ETON), Exact Sciences Corporation (EXAS), F5 Networks, Inc. (FFIV), Grayscale Bitcoin Trust (BTC) (GBTC), Harley-Davidson, Inc. (HOG), Kaixin Auto Holdings (KXIN), NIO Inc. (NIO), Niu Technologies (NIU), Intellia Therapeutics, Inc. (NTLA), Invitae Corporation (NVTA), Stitch Fix, Inc. (SFIX), SPI Energy Co., Ltd. (SPI), Scholar Rock Holding Corporation (SRRK), Shutterstock, Inc. (SSTK), Turning Point Brands, Inc. (TPB), Twitter, Inc. (TWTR), and Vista Outdoor Inc. (VSTO).