Alerting Members To VXRT Ahead of 42% Gain
by Mike Paulenoff
January 29, 2021 • 11:00 PM EST
This past Monday, after Vaxart, Inc. (VXRT) popped above key technical resistance, Mike Paulenoff posted a timely update alerting MPTrader members to a potentially significant upside breakout:
"VXRT has again climbed into heavy, but very consequential resistance from 8.30 to 9.45," Mike wrote. "If VXRT can chew through the resistance zone, it will be poised for upside continuation that projects 14-15 in a 'normal' market. We all know that once these Covid-related names gain traction, they are anything but normal. VXRT is in Phase 1 Trials testing its oral (pill form) Covid vaccine drug."
VXRT was trading at 8.44 at the time, and two hours later the stock was at 10.56, taking out all resistance since mid-August -- and still on no news.
Mike wrote: "In the absence of company or drug product news, I am thinking that just maybe VXRT's 35% short interest is what is attracting buyers to the name, which seems to be the new game in town... I am just guessing that perhaps that is one reason it is flying, but I am also hearing that the ARK Innovation Fund bought VXRT at 8.10 this AM-- you know, the folks who bought TSLA, and ROKU, etc, which certainly has some coattails."
Mike continued to closely monitor and post chart updates on VXRT for MPTrader members throughout the week, with the stock reaching as high as 13.50 on Friday before closing the week at 11.98, up 42% above its price at Mike's alert on Monday.
What next for VXRT in this upcoming week when the company is expected to release data from its Phase 1 Covid Vaccine Trial, and from earnings?
Join Mike and our MPTrader members as they closely monitor the trading and pattern development of VXRT, as well as many other individual stocks, sector ETFs, macro indices, and precious metals.
On Friday April 23, Mike Paulenoff alerted MPTrader members to an upside opportunity in Advanced Micro Devices (AMD) ahead of its earnings release on Tuesday April 27:
Mike wrote: "Right now, we should lean towards a bullish reaction to the news, and if 85 is hurdled and sustained, then AMD will be positioned for upside continuation."
However, Mike cautioned that the stock needed to get above the 90 resistance area or could stall and reverse lower.
On March 30, with Salesforce.com (CRM) trading at 210.95, Mike Paulenoff wrote MPTrader members:
"The relentless stair-step decline within the Sep.-Mar. down-channel is nearing completion ahead of my expectation of a powerful upleg that revisits and takes out the ATH at 284.87."
Fast-forward to last Thursday afternoon, April 8, when CRM finally received some long-awaited price support from Wall Street.
On March 8th, when XLI was trading at 95.88, this is what Mike Paulenoff discussed with our MPTrader Members about the S&P Industrial SPDR ETF:
"In addition to the XLB (Materials SPDR), another vehicle (arguably a better one) to ride the infrastructure spending narrative, is via the XLI Industrial ETF.
Soliton (SOLY) rallied 37% in the weeks after Mike Paulenoff highlighted it for MPTrader members on March 10. Where's it headed next?
SOLY is a medical device/biotech company developing a promising product, with a 2-year chart setup that caught Mike's attention early in the year, suggesting sooner than later that price would reflect the underlying company fundamentals.
Early on March 10, with the stock at 13.
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"If an infrastructure plan really is doable early in the Biden Administration, and if the 440% upmove from the March 2020 low to the Jan. 2021 high has not discounted just about every conceivable growth scenario, then X is turning up into another upleg as we speak. As long as any forthcoming weakness is contained in the 16.40 to 15.
