Stock Charts To Watch - Monday, Feb. 3

Axsome Therapeutics, Inc. (AXSM) made an explosive move in Nov, had a three-wave corrective pullback, formed a little bit of a base, and on Monday, it looks like it may have broken out. It jumped 7.05, or 8.12%, to 93.87, with a high of 94.98, on 800,863 shares traded. I’m thinking this is about to pop and retest the highs that come in around 110. I’m looking for 15-18 points here, then we’ll see if it can get through that. If it does, midchannel is beckoning about 145.

Ballard Power Systems Inc. (BLDP), after a big move in Dec, came down hard, bounced, and then pulled back. The pullback came on lower volume, and on Monday, it bounced 62 cents, or 6.28%, closing at the high for the day at 10.49, on 2.8 million shares. It’s got to get up through this pattern. If it does, I wouldn’t be shocked to see it make a more extensive move that takes it into the mid-teens, around 15.

ChemoCentryx, Inc. (CCXI) made an explosive move in Nov and has been in a rising channel since then. It was in a two-week flag, and on Monday, it was popped out again, gaining 2.47, or 5.8%, to 44.89, with a high of 44.96, on 608,476 shares traded. I think it can go higher. I’m looking for a move into the high 50’s, low 60’s.

NantKwest, Inc. (NK) is on the verge, in my opinion. It’s similar now to where it was in early Jan. On Monday, it was up 37 cents, or 5.85%, to 6.69, with a high of 6.74, on 910,357 shares traded. It’s going have to pop and go. If it gets through resistance at 7.65, then we’re looking at 10, 12, and 14 going forward.

PG&E Corporation (PCG) had another pop on Monday, jumping 2.06, or 13 1/2%, to 17.27, with a high of 17.40, on 25.5 million shares. That’s the best volume in two months. It looks to me like this is accelerating toward my swing target at 18 1/2-19.

XPEL, Inc. (XPEL) broke out of a wedge on Monday and popped 1.08, or 6.5%, to 17.68, with a high of 17.80, on 348,062 shares traded. I’m looking for a run to get this up towards about 22 1/2.

Stocks on the long side included Akebia Therapeutics, Inc. (AKBA), Axsome Therapeutics, Inc. (AXSM), Bilibili Inc. (BILI), Ballard Power Systems Inc. (BLDP), ChemoCentryx, Inc. (CCXI), Compugen Ltd. (CGEN), CEL-SCI Corporation (CVM), Fate Therapeutics, Inc. (FATE), Forty-Seven, Inc. (FTSV), GSX Techedu Inc. (GSX), iQIYI, Inc. (IQ), NIO Inc. (NIO), NantKwest, Inc. (NK), Neoleukin Therapeutics, Inc. (NLTX), PG&E Corporation (PCG), Pieris Pharmaceuticals, Inc. (PIRS), Purple Innovation, Inc. (PRPL), Revance Therapeutics, Inc. (RVNC), Virgin Galactic Holdings, Inc. (SPCE), Square, Inc. (SQ), Teva Pharmaceutical Industries Limited (TEVA), Trillium Therapeutics Inc. (TRIL), Tesla, Inc. (TSLA), Acceleron Pharma Inc. (XLRN), XPEL, Inc. (XPEL), and Zoom Video Communications, Inc. (ZM).

Disclaimer: Mr. Boxer's commentaries, trading ideas and model trades represent his own opinions and should not be relied upon for purposes of effecting securities transactions or other investing ...

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