Stock Charts To Watch - Monday, Jan. 13

Ballard Power Systems Inc. (BLDP) had a spike up on big volume on Monday, gaining 74 cents, or 8.16%, to 9.81, after reaching a high of 10.93, on 12 million shares. That might just be a short-term top. We’ll have to wait and see. It has gone from the Dec pullback low of 5.50 to 10.93, nearly doubling. It broke out of a rising channel on Monday, accelerated, and even took out the short-term channel. The high was 1.12 from where it closed and, yet, still, it was up.

Canopy Growth Corporation (CGC), one of the stocks in the marijuana group that I am watching closely and a swing of ours, is not only an industry leader, but a fantastic chart. This stock came down in April from 52.75 to 13.81 at the low in Nov, then spiked up, pulled back, spiked up and pulled back again, formed a basing pattern, and on Monday, broke out, jumping 2.57, or 12.5%, to 23.11, after reaching a high of 23.20, on 18 million shares traded. That’s the biggest volume we’ve seen in a couple of months. It looks to me like, if it gets a follow-through, 25 1/2 and 29 are the targets.

3D Systems Corporation (DDD) is ripping it. It has a beautiful bottom after a long decline, it broke out, stalled for two days, and on Monday accelerated 1.23, or 12.3%, to 11.22, after reaching a high of 11.33, on 4.7 million shares. It looks like it’s going to test resistance as early as tomorrow morning around 11 1/2.

InMode Ltd. (INMD) continues its move of the last five sessions that broke it out of the falling wedge, popping another 2.60, or 6.17%, to 44.74, after reaching a high of 45.34, on 1.8 million shares on Monday. There’s resistance at the 45 1/2-46 range. If it can get through here, we should see a test of 49, and possibly as high as 55, which are my targets going forward.

Luckin Coffee Inc. (LK) is a monster and has moved from the Nov low around 18, to about 150%, to Monday’s session high and 52-week high at 47.65, and added another 50 cents, or 1.09%, in after-hours, having jumped 2.58, or 6%, to 45.90, on 17 million shares. For me, this is the kind of stock, after a 5-wave move, it may be dangerous going higher. It’s extended, has momentum, and it can still accelerate to the low 50’s, but be careful, it’s due for a pullback on profit-taking.

Lattice Semiconductor Corporation (LSCC) broke out four days ago, we noted it, it stalled for two days, and then popped and broke out of that area on Monday, running 84 cents, or 4%, to 22.07, after reaching a high of 22.37, on 3.5 million shares. I’m targeting the 28 and 31-32 zones going forward.

Nektar Therapeutics (NKTR) had a breakaway on Friday, followed through a little on Monday, gaining 48 cents, or 2%, to 27.40, after reaching a high of 28.60, on 6.3 million shares. It basically filled the gap and backed off a little. But the next targets are 31 1/2 and 36.

Nuance Communications, Inc. (NUAN) is making its way upward. I put a swing on it on Monday with a major breakout of 95 cents, or 5.16%, to 19.35, after reaching a high of 19.45, on 7.4 million shares. That was the highest level in seven years. I’m looking for a run to the 22-23 zone.

Stocks on the long side included Aphria Inc. (APHA), Canopy Growth Corporation (CGC), Alphatec Holdings, Inc. (ATEC), AudioCodes Ltd. (AUDC), Ballard Power Systems Inc. (BLDP), Beyond Meat, Inc. (BYND), 3D Systems Corporation (DDD), InMode Ltd. (INMD), Inovio Pharmaceuticals, Inc. (INO), La Jolla Pharmaceutical Company (LJPC), Luckin Coffee Inc. (LK), Lattice Semiconductor Corporation (LSCC), NantKwest, Inc. (NK), Nektar Therapeutics (NKTR), Nautilus, Inc. (NLS), Nuance Communications, Inc. (NUAN), Orion Energy Systems, Inc (OESX), PG&E Corporation (PCG), RADA Electronic Industries Ltd. (RADA), Revance Therapeutics, Inc. (RVNC), Virgin Galactic Holdings, Inc. (SPCE), SunPower Corporation (SPWR), Savara Inc. (SVRA), Veru Inc. (VERU), Verona Pharma (VRNA), and Intersect ENT, Inc. (XENT).

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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