Charts of the Day

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Charts of the Day video for Thu February 4th 2016

Charts of the Day
The markets are in consolidation mode, and.....

The markets are in consolidation mode, and pretty undecided about what direction it wants to take yet. A lot of stocks have rebounded nicely. Gold has taken off. Others have done well. Let's take a look at them.

SolarEdge Technologies, Inc. (SEDG), Wall Street’s favorite solar, is doing well, up 2.10 to 29.54, or 7.6%, on 4 million shares, and closed a point off the high on Thursday. That was at resistance and likely the reason it pulled back from there. I think we still have 33 and 37 covered as targets. Nice chart and great volume for this stock.

Sientra, Inc. (SIEN), a swing trade of ours, had an inside day on Thursday with lower volume and the OBV moving up. It just feels like its destined to go higher. Look for this stock to eventually be 12, 13, even 14. It closed flat, up just 3 cents to 9.00, on 660900 shares traded.

Intrexon Corporation (XON) exploded 3.95 to 34.96, or 12.7%, on 3.9 million shares, and closed 75 cents off the high on Thursday. A very good close. It is in a nice, orderly run up. Look for 40 eventually. It has 9 days to cover.

Other stocks on the long side included Barrick Gold Corporation (ABX), Agnico Eagle Mines Limited (AEM), AngloGold Ashanti Ltd. (AU), Market Vectors Gold Miners ETF (GDX), Gold Fields Ltd. (GFI), Goldcorp Inc. (GG), Randgold Resources Limited (GOLD), Newmont Mining Corporation (NEM), Direxion Daily Gold Miners Bull 3X ETF (NUGT), Sibanye Gold Limited (SBGL), Silver Wheaton Corp. (SLW), Amedica Corporation (AMDA), Cree, Inc. (CREE), 3D Systems Corporation (DDD), Direxion Daily S&P Biotech Bull 3X ETF (LABU), Mattel, Inc. (MAT), Oclaro, Inc. (OCLR), SolarEdge Technologies, Inc. (SEDG), Sientra, Inc. (SIEN), and Intrexon Corporation (XON).

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