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Watchlist Week of August 8th, 2022

Krystal Biotech, Inc. (Long Idea)

Again, biotech stocks are showing a lot of strength right now.

Last week, I introduced you to Ionis Pharmaceuticals, Inc. (IONS), which broke out and climbed 16% in just two days.

Krystal Biotech, Inc. (KRYS) is another biotech stock setting up in a similar pattern.

Daily Chart of Krystal Biotech, Inc. (KRYS) – Source: TradingView

KRYS has formed a base over the last eight months and is finally starting to break out into new highs on above-average volume.

With resistance broken and almost no overhead supply, this could be the beginning of a strong rally higher.

Intra-Cellular Therapies, Inc. (Long Idea)

Intra-Cellular Therapies, Inc. (ITCI) is another biotech stock I have been watching for several months.

Daily Chart of Intra-Cellular Therapies, Inc. (ITCI) – Source: TradingView

Many of the companies in this space are pre-revenue. But ITCI is growing sales at triple-digit rates every quarter.

Fund ownership is also ramping up. This is a good sign, as it shows institutional interest (big players) building positions in the stock.

Xenon Pharmaceuticals Inc. (Long Idea)

I have brought your attention to Xenon Pharmaceuticals Inc. (XENE) over the last few months and added it to the Watchlists of several of my research services.

Daily Chart of Xenon Pharmaceuticals Inc. (XENE) – Source: TradingView

As you can see in the chart, price has been consolidating for almost a year to form a beautiful base, with pullbacks shallowing from left to right.

Last week, shares finally breached the $36 level, triggering a nice breakout.

If the breakout holds above the pivot, we could see a lasting move higher.

The post Watchlist Week of August 8th, 2022 appeared first on Stock Surge Daily.

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