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Exelixis, Inc. (EXEL) broke away with a major move on Monday, and followed up on Tuesday, popping 98 cents, or 4%, to 24.56, with a session and multi-week high of 25.13, on 7.7 million shares traded. I like the way the overall chart looks. There’s some resistance from the March-April double top at 25.31. If it gets through that, we’re looking at the high 20’s.
Turtle Beach Corporation (HEAR) had a nice day on Tuesday, jumping 1.04, or 14.4%, to 8.25, with a session high of 8.58, on 1.2 million shares traded, and 5 cents in after-hours. It looks like it took out the declining topsline that goes back a year and a half, almost two years. This stock has dropped from the mid 30’s to the 4.00 level, ramped back up again, and has gone from 4.00 to over 8.00, almost doubling. There’s some lateral resistance in this area. I think there is a possibility of an extension run that takes it to 9 3/4. Keep an eye on this one.
Kiniksa Pharmaceuticals, Ltd. (KNSA) broke through the March high and is now in a rising channel. On Tuesday, it gained 1.45, or 7.6%, to 20.45, with a session and multi-week high of 21.00, on 307,064 shares traded. The long-term pattern shows that there is a possibility this stock could extend to the mid 20’s. That’s my target.
KORU Medical Systems (KRMD) has been up everyday for almost three weeks in a row, and on Tuesday it was up another 98 cents, or 8.6%, to 12.38, with a session and multi-week high of 12.70, on 728,116 shares traded. After the V-bottoming and right-hand extension, it has moved to the top of the channel. It may have more upside.
NanoViricides, Inc. (NNVC) had a big afternoon on Tuesday, exploding 1.93, or 33.6%, to 7.67, with a session high of 8.03, on 5.6 million shares traded, and another 15 cents in after-hours. It exploded midday, backed and filled into the close, formed a wedge, and consolidated after the market closed. The overall look of this pattern indicates a breakout above the 50-day and declining topsline. Look for a quick test of 9.35 as early as Wednesday morning.
Vaxart, Inc. (VXRT) broke out again on Tuesday, taking it up 79 cents, or 33.3%, on 3.16, with a session high of 3.45, on 59 million shares traded. Resistance is at 3.45 and 3.50. If it gets through those levels, the first target is 4.85-.90, the second target is at 6 1/2.
Stocks on the long side included Apache Corporation (APA), Direxion Daily S&P Oil & Gas Exploration & Production Bull 2X Shares (GUSH), Exelixis, Inc. (EXEL), Turtle Beach Corporation (HEAR), Inovio Pharmaceuticals, Inc. (INO), Kiniksa Pharmaceuticals, Ltd. (KNSA), KORU Medical Systems (KRMD), Nautilus, Inc. (NLS), NanoViricides, Inc. (NNVC), Pluristem Therapeutics Inc. (PSTI), Vapotherm, Inc. (VAPO), and Vaxart, Inc. (VXRT).
On the short side, stocks included Alliance Data Systems Corporation (ADS), Expedia Group, Inc. (EXPE), GMS Inc. (GMS), Hexcel Corporation (HXL), Knoll, Inc. (KNL), Insperity, Inc. (NSP), NovoCure Limited (NVCR), Universal Display Corporation (OLED), TripAdvisor, Inc. (TRIP), Universal Electronics Inc. (UEIC), and World Acceptance Corporation (WRLD).