Chinook Therapeutics, Inc. (Long Idea)
Chinook Therapeutics, Inc. (KDNY) is a biotech stock coming out of a two-year base pattern.
Here’s how the chart is setting up…
And here’s how the stock is setting up with my Stock Surge Indicator (SSI)…
- Surge score: 97/100
- % Above 52-wk low: 79%
- Sales growth: +671%
- Return on Equity: N/A
- Triple momentum: yes
The company has three drugs in its development pipeline, one of which is in Stage 3 clinical trials.
Good news from that trial could deliver a big surge in the share price.
KDNY has seen several weeks of big volume on its move to the highs. Consider buying the breakout with an 8% stop.
Immunocore Holdings plc (Long Idea)
Immunocore Holdings plc (IMCR) is another biotechnology stock showing a lot of strength.
Here’s how the chart is setting up…
And here’s how the stock is setting up with my SSI…
- Surge score: 96/100
- % Above 52-wk low: 102%
- Sales growth: +159%
- Return on Equity: N/A
- Triple momentum: yes
IMCR just completed a beautiful base pattern with volatility compressing as pullbacks shallowed from left to right – exactly the kind of price action we like to see.
Consider buying this stock here around the $37 mark with an 8% stop loss.
ZIM Integrated Shipping Services Ltd. (Short Idea)
I added ZIM Integrated Shipping Services Ltd. (ZIM) to the Watchlist as a short last week, and it is finally hitting the entry trigger.
Here’s how the chart is setting up…
And here’s how the stock is setting up with my SSI…
- Surge score: 90/100
- % Above 52-wk low: 96%
- Sales growth: +113%
- Return on Equity: 191%
- Triple momentum: no
The stock was a market leader in 2022 as marine shipping companies have been able to charge insane rates due to slowdowns in the supply chain.
Earnings surged roughly 10-fold after the pandemic and the stock has done the same.
But President Biden basically declared war on ZIM and the other handful of companies that control the bulk of cargo shipments from overseas thanks to what the White House believes is “price gouging.”
After an 803% move higher in 2021 and early 2022, ZIM has finally started rolling over.
Shares have seen heavy selling volume over the last few weeks, and the stock is now resting on its 200-day moving average for the first time ever.
I would consider selling ZIM short with a buy stop at $52 for protection.
