Stock Charts To Watch - Tuesday February 4

Aurinia Pharmaceuticals Inc. (AUPH) was up 70 cents, or 3.74%, to 19.44, after reaching a high of 19.53, on 1.5 million shares on Tuesday, and may be coming out of a flag that developed over the last month. If it accelerates here, look for a retest of 22, and then it’s off to the mid-20’s.

InMode Ltd. (INMD), after running up to resistance and backing off in a three-wave-corrective falling wedge, popped on Tuesday with a breakaway gap, jumping 4.37, or 10%, closing at the session highs at 48.87, on 1.4 million shares. That’s the best volume in five sessions. I think it’s going to test the double-top around 53-54, and then run up to 59-60.

Luckin Coffee Inc. (LK) has been phenomenal for a long time, but it got whacked when the Chinese stocks came down, going from 51, all the way down to 26.75, at one point. Nearly cut in half. It then had a big snapback, a rising-pattern breakout that took it up 4.89, or 15.6%, to 36.99, before pulling back and closing up 36.24, on 29.6 million shares, above the 50-day on Tuesday. I’m looking for a test of 40 near term.

Mallinckrodt Public Limited Company (MNK) pulled back in Jan, reached the moving averages and lateral-price support, and on Tuesday, it popped a little bit, gaining another 27 cents, or 6%, to 4.83, on a high of 5.14, on 8.5 million shares. It didn’t close great, but I’m looking for a run to 6 1/2-3/4, and then to the 9-dollar area.

Neoleukin Therapeutics, Inc. (NLTX) has a massive, beautiful chart. I love the way this one looks. Tuesday’s action takes it up 77 cents, or 6.19%, to 13.21, after reaching a session and 52-week high of 13.70, on 532,905 shares traded. There is a double-top, but I think if we get through here, we’re looking at 15 1/2, and then 20.

Purple Innovation, Inc. (PRPL) is looking outstanding. This stock has gone from 7 1/4 in mid-Dec, to nearly doubling on Tuesday, popping 78 cents, or 6.06%, to 13.66, just 4 cents or the session and 52-week high of 13.70, on nearly a million shares. Strong volume. looking good. It’s at the all-time highs from early 2018 when it reached 13.05. It’s got to get through that, then to mid-to-high teens.

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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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