Charts of the Day

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IPXL, SGMO, CAVM, HAS — Stock Charts to Watch

Charts of the Day video for Thursday August 10th, 2017


Impax Laboratories Inc. (IPXL) had a very good day on Thursday, first dipping 16.20, and then ripping to 18.60, closing up 1.65, or 10%, to 18.20, on 2.9 million shares traded. I like the overall structure of this stock. At this point, we’ll be watching to see if it has the energy to get through the 20-20 1/2 range. If it does, the target is 26-7.

Swing trade Sangamo Therapeutics, Inc. (SGMO), another biotech that we follow, did very well on Thursday, jumping 1.05, or 12%, to 9.50, on 2.1 million shares traded. You can see that it was falling down on Thursday before it popped, and closed at resistance. If it gets through there, targets going forward are 10 1/2, 11 1/2, and 13.

Stocks on the Short Side…..

Cavium, Inc. (CAVM) continues to fall away. Notice it could not get through lateral price resistance, the declining topsline as well as the 50-day. It bounced, pulled back, bounced, pulled back, bounced, and on Thursday it pulled back down 2.10, or 3.5%, to 57.47, on nearly a million shares traded. My immediate target is closer to 53, and then 50.

Hasbro, Inc. (HAS) is getting hammered. On Thursday, it was down another 2.18, or 2%, to 97.82, on 1.2 million shares traded. It took out the bear wedge after the breakdown, and has been down 7 days in a row. It closed under support on Thursday, and it would not shock me to see it drop to 95. That is the next target. If it falls away, I’m looking at 88.

On the long side, stocks included VelocityShares 3x Inverse Crude (DWT), Editas Medicine Inc. (EDIT), Eldorado Resorts, Inc. (ERI), Hudson Technologies Inc. (HDSN), Natuzzi (NTZ), Impax Laboratories Inc. (IPXL), Pan American Silver Corp. (PAAS), VelocityShares 3x Long Silver ETN (USLV), Sangamo Therapeutics, Inc. (SGMO), ProShares Ultra VIX Short-Term Futures (UVXY), and VelocityShares Daily 2x VIX ST ETN (TVIX).

On the short side, stocks included Almost Family, Inc. (AFAM), Cavium, Inc. (CAVM), Ellie Mae, Inc. (ELLI), Finisar Corp. (FNSR), Five Prime Therapeutics, Inc. (FPRX), Genesco Inc. (GCO), Hawaiian Holdings, Inc. (HA), Hasbro, Inc. (HAS), KMG Chemicals, Inc. (KMG), MYR Group Inc. (MYRG), Dave & Buster's Entertainment, Inc. (PLAY), plt, Sally Beauty Holdings, Inc. (SBH), Shopify Inc. (SHOP), and Veritiv Corporation (VRTV).

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