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Stock Charts To Watch: AKCA, CGC, CREE, PI

By Harry BoxerStock MarketsMay 30, 2018 11:28AM ET
Stock Charts To Watch: AKCA, CGC, CREE, PI
By Harry Boxer   |  May 30, 2018 11:28AM ET
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Akcea Therapeutics Inc. (NASDAQ:AKCA), one of our swing trades, had a nice day on Tuesday, jumping 1.56, or 6.7%, to 24.85, on 327,223 shares traded. Not huge volume, but the best in about six sessions. A move like this that pops to resistance, and I want to see if there’s a follow-through. The declining tops were taken out, the moving averages are crossing over, and any move above Tuesday’s high at 25, or so, and we should see 29, maybe even 33-34.

Canopy Growth Corp. (NYSE:CGC) is setting up a big base for a massive move. That’s my thinking anyhow. It didn’t make me happy the last couple days, but Tuesday was a positive session, up 1.20, or 4.46%, to 28.10, on 2.6 million shares traded. The volume excelled, not as huge as the day before, but I’ll take the 26 million shares. The bottom line is that I would like to see it hold 26-7 ideally, with a stop under 25 1/2, or 24.80. Resistance is 31 1/2. The targets are 33-4, and then the mid-to-high 30’s, maybe 37.

Cree Inc. (NASDAQ:CREE) popped out and ran to the highest level in four years to 48.00. It was up 1.47, or 3.21%, to 47.32, on 1.9 million shares on Tuesday. If the rising channel is met, the targets are 52 and 59 going forward.

Swing trade Impinj Inc. (NASDAQ:PI) is acting great, I think, because the bottom has been put in, in my opinion. It formed a breakaway gap, a falling wedge, and on Tuesday it had a beautiful pop of 2.34, or 14%, to 19.08, on 1.4 million shares. I think it has more to go. Targets are 23 and 27.

Stocks on the long side included Akcea Therapeutics Inc. (NASDAQ:AKCA), Bilibili Inc. (NYSE:BILI), Canopy Growth Corporation, Intelsat Sa. (NYSE:I), Catalyst Pharmaceuticals Inc. (NASDAQ:CPRX), Cree, Inc. (CREE), Corvus Pharmaceuticals Inc. (NASDAQ:CRVS), Carvana Co. (NYSE:CVNA), Cryoport Inc. (NASDAQ:CYRX), DocuSign Inc. (NASDAQ:DOCU), Endocyte Inc. (NASDAQ:ECYT), Evolus Inc. (NASDAQ:EOLS), Momo Inc. (NASDAQ:MOMO), Micron Technology Inc. (NASDAQ:MU), Myriad Genetics Inc. (NASDAQ:MYGN), New York & Company Inc. (NYSE:NWY), Impinj, Inc. (PI), Quotient Ltd. (NASDAQ:QTNT), Square Inc. (NYSE:SQ), Savara Inc. (NASDAQ:SVRA), TechTarget Inc. (NASDAQ:TTGT) and Twitter Inc. (NYSE:TWTR).

Stock Charts To Watch: AKCA, CGC, CREE, PI

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Stock Charts To Watch: AKCA, CGC, CREE, PI

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