Breakout Stocks of Week 10
NASDAQ was up last week (week 9) by 1.74% ending at 16,274.94 points after gaining 278.12 points during the week. Our system has detected some possible breakout stocks for the following week and these should be on your watchlist. These are the stocks that are bouncing up with good increase in volume and are likely to do good in short term. One of these stocks are Nkarta Inc. NASDAQ:NKTX. This stock has had a buy signal since Oct 31, 2023 when the price was $2.03 and is so far up 532.51% to $12.84. Some other companies are on our watchlist to, among these are Next Biometrics Group AS OSE:NEXT Torrent Pharmaceuticals Limited XBOM:TORNTPHARM Torrent Pharmaceuticals Limited NSE:TORNTPHARM and Gujarat Themis Biosyn Limited XBOM:GUJTHEM which all got a breakout pattern emerging.
| Date | Company | Price | Week 10 |
|---|---|---|---|
| Nkarta Inc. | $12.84 | $14.63 | 13.94% |
| Next Biometrics Group As | kr8.50 | kr8.36 | -1.65% |
| Torrent Pharmaceuticals Limited | ₹2,666.75 | ₹2,663.40 | -0.126% |
| Torrent Pharmaceuticals Limited | ₹2,668.65 | ₹2,664.80 | -0.144% |
| Gujarat Themis Biosyn Limited | ₹363.65 | ₹377.70 | 3.86% |
The Nkarta Inc. stock price gained 6.29% on the last trading day (Friday, 1st Mar 2024), rising from $12.08 to $12.84. During the last trading day the stock fluctuated 7.61% from a day low at $12.09 to a day high of $13.01. The price has risen in 6 of the last 10 days and is up by 22.64% over the past 2 weeks. Volume fell on the last day by -26 thousand shares and in total, 825 thousand shares were bought and sold for approximately $10.60 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
On Mar 26, 2024, it was reported that Canaccord Genuity gave NKTX a "Buy" grade with a "hold" action.
Nkarta Inc. holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
About Nkarta Inc.:
Nkarta, Inc., a a clinical-stage biopharmaceutical company, develops and commercializes cell therapies for cancer treatment. The company's approach for cellular immunotherapy involves chimeric antigen receptors on the surface of a natural killer (NK) cell that enable the cell to recognize specific proteins or antigens that are present on the surface of tumor cells. Its two co-lead product candidates are NKX101, which is in Phase I clinical trials for the treatment of relapsed/refractory acute myeloid leukemia or higher risk myelodysplastic syndromes; and NKX019, a pre-clinical product, which is based on the ability to treat various B cell malignancies by targeting the CD19 antigen found on these types of cancerous cells. The company has a research collaboration agreement with CRISPR Therapeutics AG. Nkarta, Inc. was incorporated in 2015 and is based in South San Francisco, California.
The Next Biometrics Group AS stock price gained 0.711% on the last trading day (Friday, 1st Mar 2024), rising from kr8.44 to kr8.50. During the last trading day the stock fluctuated 4.84% from a day low at kr8.26 to a day high of kr8.66. The price has risen in 4 of the last 10 days and is up by 1.19% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 182 thousand more shares were traded than the day before. In total, 239 thousand shares were bought and sold for approximately kr2.03 million.
Next Biometrics Group AS holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
About Next Biometrics Group AS:
NEXT Biometrics Group ASA, through its subsidiaries, engages in the research, development, manufacture, and commercialization of fingerprint technology and products in Asia. The company offers fingerprint sensor modules and readers, flexible biometric subassemblies, and face recognition software, as well as software and hardware development kits for USB and SPI modules. Its products are used in point of sales terminals, smart card, government ID, access control, internet of things, and notebook applications. The company sells its sensors to distributors of electronic components. NEXT Biometrics Group ASA was incorporated in 2001 and is headquartered in Oslo, Norway.
The Torrent Pharmaceuticals Limited stock price gained 0.0863% on the last trading day (Friday, 1st Mar 2024), rising from ₹2,664.45 to ₹2,666.75. During the last trading day the stock fluctuated 2.43% from a day low at ₹2,657.30 to a day high of ₹2,721.85. The price has risen in 6 of the last 10 days and is up by 0.99% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 thousand more shares were traded than the day before. In total, 6 thousand shares were bought and sold for approximately ₹17.21 million.
Torrent Pharmaceuticals Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
The Torrent Pharmaceuticals Limited stock price gained 0.0956% on the last trading day (Friday, 1st Mar 2024), rising from ₹2,666.10 to ₹2,668.65. During the last trading day the stock fluctuated 2.48% from a day low at ₹2,658.05 to a day high of ₹2,723.95. The price has risen in 6 of the last 10 days and is up by 1.11% over the past 2 weeks. Volume fell on the last day by -36 thousand shares and in total, 435 thousand shares were bought and sold for approximately ₹1.16 billion. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Torrent Pharmaceuticals Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
About Torrent Pharmaceuticals Limited:
Torrent Pharmaceuticals Limited engages in the research, development, manufacturing, and marketing of generic pharmaceutical formulations in India, the United States, Germany, Brazil, and internationally. It offers products in various therapeutic areas, including cardiovascular, central nervous system, gastrointestinal, women healthcare, diabetology, pain management, gynecology, oncology, and anti-infective, as well as provides vitamins, minerals, and nutrients. The company also provides contract manufacturing services. It has licensing collaborations of Baricitinib, Molnupiravir, and Paxlovid for its Covid portfolio. Torrent Pharmaceuticals Limited was formerly known as Trinity Laboratories and changed its name to Torrent Pharmaceuticals Limited in 1971. The company was founded in 1959 and is based in Ahmedabad, India. Torrent Pharmaceuticals Limited is a subsidiary of Torrent Investments Private Limited.
The Gujarat Themis Biosyn Limited stock price gained 4.99% on the last trading day (Friday, 1st Mar 2024), rising from ₹346.35 to ₹363.65. During the last trading day the stock fluctuated 6.64% from a day low at ₹341.00 to a day high of ₹363.65. The price has been going up and down for this period, and there has been a 10.2% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 462 thousand more shares were traded than the day before. In total, 501 thousand shares were bought and sold for approximately ₹182.01 million.
Gujarat Themis Biosyn Limited holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Despite these candidates are looking good from a technical perspective they may not perform as expected. You should always be cautious when trading and base your decisions on more than one source of information. This does not constitute an offer or recommendation to buy or sell securities.
