Stock Charts To Watch - Thursday, January 2

Advanced Micro Devices, Inc. (AMD) has been a swing of ours since it broke out in the 35 range around the first of Nov targeting 44 and 48. On Thursday, it was up 3.24, or 7%, to 49.10, after reaching a high of 49.25, on 78 million shares. Although it’s on a short-term peak in terms of a multi-recount of a long-term intermediate channel, this stock could be headed to the mid-50’s, maybe more.

Ballard Power Systems Inc. (BLDP) had a nice pop on Thursday. The overall pattern shows that it popped out of a double top and ran up 82 cents, or 11.42%, closing at the session high and 52-week high at 8.00, on 3 million shares. That’s the biggest volume in six weeks. Although there’s some lateral resistance here that goes way back, it may have a little follow-through at resistance, but if it really takes off, I wouldn’t be shocked to see it run up towards 13-14.

Collegium Pharmaceutical, Inc. (COLL), one of our swing trades and a pick for the year, jumped 1.02, or 5%, to 21.60, reaching a high of 21.63, on 270,221 shares traded on Thursday. My next targets are 25 and 28 3/4-29 going forward.

Renewable Energy Group, Inc. (REGI) is looking like a beautiful bull wedge forming, gaining another 94 cents, or 3.49%, to 27.89, after reaching a high of 27.95, on 781,052 shares traded on Thursday. Folks, if it breaks out of this range, I would look for 30 minimum, but I think it’s going to 33-34.

Cassava Sciences, Inc. (SAVA) looks awesome. On Thursday, it jumped 2.00, or 38.46%, to 7.28, before pulling back and closing at 7.20, on 17 million shares. The momentum on this stock is outstanding. It looks like a reversal to the upside on Thursday. That’s a powerful as it gets. Don’t be surprised to see it gap and run on Friday to 8 3/4, which is my target.

Stocks on the long side included Advanced Micro Devices, Inc. (AMD), Arlo Technologies, Inc. (ARLO), Aurinia Pharmaceuticals Inc. (AUPH), Bloom Energy Corporation (BE), Ballard Power Systems Inc. (BLDP), BioNTech SE (BNTX), Calyxt, Inc. (CLXT), Collegium Pharmaceutical, Inc. (COLL), Daqo New Energy Corp. (DQ), Enphase Energy, Inc. (ENPH), Farfetch Limited (FTCH), General Electric Company (GE), JD.com, Inc. (JD), iQIYI, Inc. (IQ), LexinFintech Holdings Ltd. (LX), Renewable Energy Group, Inc. (REGI), RUHNN HOLDING LTD (RUHN), Cassava Sciences, Inc. (SAVA), SolarEdge Technologies, Inc. (SEDG), Synthesis Energy Systems, Inc. (SES), Smith Micro Software, Inc. (SMSI), Trip.com Group Limited (TCOM), Taiwan Semiconductor Manufacturing Company Limited (TSM), Yirendai Ltd. (YRD), and Zymeworks Inc. (ZYME).

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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