Stock Charts To Watch - Thursday, February 6

Fulgent Genetics, Inc. (FLGT) broke out of a wedge on Wednesday and followed through nicely on Thursday, jumping 1.21, or 8%, to 16.63, just pennies off the 16.67 session and 52-week high, on 435,748 shares traded. The volume was solid, the OBV  is looking vertical. I think this is going to be a 19-dollar stock.

Nuance Communications, Inc. (NUAN) exploded on Thursday on earnings, and literally went from 20 1/2 to 22 1/2, gaining 2.39, or 12.2%, to 22.01, after reaching session and multi-week high at 22.42, on 12.2 million shares traded. That’s the biggest volume I’ve seen on this stock for two years. Right now, it’s up against resistance, and it might pull back. If it does, watch for it to get through 23, and then we’re looking at 26 down the road.

Tandem Diabetes Care, Inc. (TNDM) was my stock of the year in 2018, coming down from 2 3/4 to 50. That was a monster move. It was a few months before moving back up again, going from the 24 range to 70, and then consolidated for 9-10 months. It then broke out, backed and filled, and on Thursday, it popped 69 cents, or 1%, to 75.00, after running up to 77.05, on 1.4 million shares traded. Resistance can hold that stock at about the 73-74 zone, then take out 78 3/4, and see it to run to the mid-80’s.

Unisys Corporation (UIS) exploded 5.10, or 46% on Thursday, to a session and multi-week high of 17.99, before pulling back and closing up 16.20, on 8.5 million shares traded. I think it’s ready for a much bigger move to 21 near term, and then 25 intermediate term.

Verona Pharma (VRNA) was up 31 cents, or 5.45%, to 6.00, just a nickel of Thursday’s high at 6.05, on 74,225, which is low volume for this stock. In mid-Jan it popped and died quickly, and then basically bounced and pulled back five waves to key support at the triple bottom. I cannot let this go into 4.95. It did snap back to 6.00 and took out the declining tops line. My near-term target is going to be around 7, 8 1/2, and more.

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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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