Harry Boxer's Charts of the Day stock chart videos are available nightly to members of TheTechTrader. Members please login and see Charts of the Day in the "Videos" menu dropdown.
Co-Diagnostics, Inc. (CODX) had a big day on Monday on profit taking. It moved up 1.58, or 12.68%, to 14.04, having gone from 12.46 to the session high of 15.06, on a nice 9.2 million shares traded. Of course, it has to get up through resistance, which is around 15.40. If this is a V-bottom with a platform, then this is the beginning of a move up, Monday’s move got it back above the 50 and it closed above the 50. It needs to get above 15.40-.50 for it to really get going. The next target will be the gap test at 15 3/4, and then the gap-fill at 20.
NantKwest, Inc. (NK) broke out when it had a swing put on it in September, pulled back and tested, ran up to new highs, hit my first target, and then backed off to test the trendline. On Monday, it bounced 45 cents, or 5.24%, to 9.03, with a session high of 9.22, on 1.3 million shares traded. Keep an eye on 10.15. I am looking for 11 1/2, 13 1/2, and near 16, if that occurs.
OraSure Technologies, Inc. (OSUR) on Monday popped 1.01, or 6.77%, to 15.92, with a session high of 16.73, on 4 million shares traded. That’s good volume and good OBV, in particular. It looks to me like this stock is going to challenge the 18 1/2 to 20 zone. If it gets through that, the target is 22-23.
Ontrak, Inc. (OTRK) was still coiling on Monday, but is coming off the bottom of the pattern that it is in, adding another 2.45, or 3.9%, to 65.21, with a session high of 65.90, on descent 439,636 shares traded. If it can get out of that pattern, this might be a huge mover. I am thinking it could move to somewhere in the 80’s or 90’s, maybe even much more than that.
The ProShares Ultra VIX Short-Term Futures ETF (UVXY) had a significant session with the markets reversing on Monday. It closed up 2.27, or 13.58%, to 18.99, with a session high of 19.40, on 62 million shares traded. That is the biggest volume in about seven weeks. It is coming out of a falling wedge and could trigger a move that could take it into the 22 3/4-24 range. Beyond that, we will see what happens next.
On the long side, stocks included Axovant Gene Therapies Ltd. (AXGT), Co-Diagnostics, Inc. (CODX), Cardiff Oncology, Inc. (CRDF), Document Security Systems, Inc. (DSS), Jumia Technologies AG (JMIA), NantKwest, Inc. (NK), OraSure Technologies, Inc. (OSUR), Ontrak, Inc. (OTRK), the ProShares Ultra VIX Short-Term Futures ETF (UVXY), and Westwater Resources, Inc. (WWR).
Stocks on the short side included Anterix Inc. (ATEX), Cue Biopharma, Inc. (CUE), eHealth, Inc. (EHTH), Energizer Holdings, Inc. (ENR), EverQuote, Inc. (EVER), FLIR Systems, Inc. (FLIR), GW Pharmaceuticals plc (GWPH), MKS Instruments, Inc. (MKSI), Overstock.com, Inc. (OSTK), and PetMed Express, Inc. (PETS).