# Watchlist Week of August 8th, 2022

Canonical: https://stocksurgedaily.com/watchlist-week-of-august-8th-2022/

## **Krystal Biotech, Inc. (Long Idea)**

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

[**Last week**](https://stocksurgedaily.com/watchlist-update-the-start-of-a-new-bull-market/), 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.

![](https://lh6.googleusercontent.com/BA_HtmFy5T-vxDm5x5GxX9GJpboYdkG2SIU7nkMGyOhOWiFT5EKHtFk0ai8ZBIvFQmYb9c1qxZ-JCbTKbc6gMqVV-BdVhH-7P4zUFnyCEIVKDMKn4B1TUrpAemnT38aqumvb8Covp0oSeDFO_EloaDQ)

**_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.

![](https://lh5.googleusercontent.com/z3YrQyDs4mlpeQfYlyujrvjXlfdspAjTUTabC9I9Z40CHa4uHvilRS3YfYTm1rsGUm334B1kzawqKqjkkE42ooco81jRsHbDAV2F85dsCPA846lo1PyhPVYwZfPL4Q0utpHQfHw49FvSNUZyPDUIl4U)

**_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**](https://stocksurgedaily.com/watchlist-update-cant-keep-these-strong-stocks-down/) and added it to the Watchlists of several of my research services.

![](https://lh3.googleusercontent.com/f8A0am3CoLQJLMG9iPC4NcuBleSuGCEOw6jDaMZwDF-as-0k6wfeDB2jVvMLXFxOdzvjy4-KwE2gF2wslsPnUct56dCpacwOLTv-n4mZMDFXOV5LUSimh1BgyS6Rmy05Hpq1nzK3wmX972BPb9v3yFw)

**_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.