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.
In his September 30th chart analysis for MPTrader members, Mike Paulenoff wrote bullishly about AMD, noting:
"AMD has piqued my interest technically because all of the price action off of its ATH at 122.38 (8/04) into the September lows at 99.51 (9/20) and 99.81 (9/29) has the right look of a complete, or nearly-completed correction of the prior major advance off of the 5/13 low at 72.50. As long as the 99.
MRNA's August downside reversal from a new all-time high (ATH) at 498.60 (8/10/21) to 349.00 (8/16/21) was just the first shot over the bow of a larger-developing corrective pattern and period.
Thus warned Mike Paulenoff to our members on the afternoon of August 16th, when, with MRNA trading at 363.
This past Monday, with Nike (NKE) poised to report earnings later in the week, Mike Paulenoff told MPTrader members that "NKE is vulnerable to a press into the 140-143 target zone either ahead of, or in reaction to, the earnings news."
NKE was trading at 161.75 at the time, and by the week's end the stock was 149.59, having hit a low of 148.
Back on August 18th, nearly two weeks ahead of ZM's (Zoom Video Communications) earnings report, Mike Paulenoff cautioned MPTrader members about the stock.
Mike wrote: "The price structure, which has pressed relentlessly lower (15%) since its 8/05 rally high at 404.35, is probing -- and trading below -- its 100 DMA, now at 345.67, and is considerably beneath its 200 DMA, now down-sloping at 367.20.
In our Top Call article a month ago, we told you about how Mike Paulenoff called AAPL's upside continuation, with the expectation that the stock could extend a little higher before upside exhaustion.
AAPL, indeed, went on to stair-step higher to reach a high of 157.26 high last week, overshooting the upper boundary of Mike's 153-156 projected high-zone by just 0.8%. It then proceeded to initiate the expected bout of weakness that accelerated to the downside this past Friday.
