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8 Stocks To Watch: ABBV, AMD, AXSM, IMGN, INMD, MAXR, PRQR, SEAC

Published 12/17/2019, 12:13 AM
Updated 07/09/2023, 06:31 AM

1. AbbVie (NYSE:ABBV) a swing trade of ours, which popped out of a wedge in Oct and we put a swing on it, kept running until it met two of my targets near 90. 90.41 was the high, and then it pulled back for a couple three or four weeks, coiled, and then last Thursday, it broke out of the coil, pulled back on Friday, and on Monday, it came on again, jumping 1.59, or 2%, to 89.43, reaching up to 90.12, on 6.2 million shares traded. The high so far in Nov is 90.40. I’m looking for this stock to make it to mid-channel to 95, and then about 99 to 101.

2. Advanced Micro Devices (NASDAQ:AMD) has a really fantastic, long-term chart, with a big fifth wave underway. On Monday, it jumped 1.20, or 3%, to 42.35, with a high of 42.98, on 56 million shares. I think the fifth wave could take it all the way up, if it accelerates, to 53, and then high 60’s.

3. Axsome Therapeutics (NASDAQ:AXSM) an old swing of ours, on positive findings for depression drug, on Monday exploded 33.01, or 70.55%, to 79.80, reaching a high of 88.00, on 9.5 million shares. It could get to 110, 120 in the next few weeks.

4. ImmunoGen (NASDAQ:IMGN), which I put a swing on when it popped out in August, it pulled back, coiled, popped again, pulled back to retest, popped, pulled back and retested again, and then popped on Monday, gaining 31 cents, or 8.66%, to 3.89, with a high of 4.07, on 4.7 million shares. If it gets through 4.23, I think it’s headed to 6.

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5. InMode (NASDAQ:INMD) jumped 2.98, or 8%, to 41.82, with a high of 42.20, on 1.6 million shares on Monday, but may have completed. It’s 4-waves up. If the angle on ascent holds true, and there’s any kind of follow-through, let’s say on Tuesday through 43, then 48 and 55 are the next targets. We’ll see if it gets through 59-60 area before it runs anymore.

6. Maxar Technologies (NYSE:MAXR) ran 1.23, or 10.45%, closing at the high for the day at 13.00, on 3.2 million shares on Monday. It popped on Friday, followed through on Monday, and is right at resistance. It needs a follow-through here. If it gets one, targets are 16 and 19.

7. ProQR Therapeutics (NASDAQ:PRQR), one of my old swings that didn’t really work well a year or so ago, broke down and has been coming down for about a year, until it finally reversed in Oct, backed and filled, tested support, broke out and retested, and has now been up eight out of the last nine sessions. On Monday, it closed up 68 cents, or 6.92%, to 10.51, with a high of 10.98, on 624,080 shares traded. Going forward, the target is 12 1/2-3/4.

8. SeaChange International (NASDAQ:SEAC)popped out of a little wedge or flag on Monday, gaining 31 cents, or 7.65%, closing at 4.36, within pennies of its 4.39 high, as the volume picked up to 1.5 million shares traded. I think this stock wants to get up to 5, and then 6 1/2.

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Stocks on the long side included AbbVie Inc . (NYSE:ABBV), Abeona Therapeutics Inc. (ABEO), Advanced Micro Devices, Inc. (NASDAQ:AMD), Amneal Pharmaceuticals, Inc. (AMRX), Ardelyx, Inc. (ARDX), Axsome Therapeutics, Inc. (AXSM), Fate Therapeutics, Inc. (FATE), Horizon Pharma Public Limited Company (HZNP), ImmunoGen, Inc. (IMGN), InMode Ltd. (INMD), Iovance Biotherapeutics, Inc. (IOVA), Kodiak Sciences Inc. (KOD), Repro Med Systems, Inc. (KRMD), Maxar Technologies Inc. (MAXR), Mirum Pharmaceuticals, Inc. (MIRM), NantKwest, Inc. (NK), Perion Network Ltd. (PERI), Pfenex Inc. (PFNX), ProQR Therapeutics N.V. (PRQR), Renewable Energy Group, Inc. (REGI), Sea Limited (SE), SeaChange International, Inc. (SEAC), SMART Global Holdings, Inc. (SGH), Veru Inc. (VERU), and Zynerba Pharmaceuticals, Inc. (ZYNE).

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