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AAL, CVNA, ENPH, IMAC, KBH, PENN, SPCE — Stock Charts to Watch

Charts of the Day video for Tuesday March 24th, 2020


American Airlines Group Inc. (AAL) was up against resistance and formed a mini-gap on Tuesday, with a huge gain of 3.67, or 35.8%, to 13.92, reaching a high 14.81, on 101.6 million shares traded, and then 33 cents, or 2.37%, to 14.25 in after-hours. When stocks get the kind of volume we’re seeing on reversals, it’s massive.

Carvana Co. (CVNA), after bottoming and retesting, formed a right-handed extended V, broke out with a breakaway gap on Tuesday, exploding 15.41, or 43%, to a high of 56.67 in the last 20 minutes, before pulling back and closing up 51.21, on 7 million shares traded. My target is 62. A pullback might be in order here.

Enphase Energy, Inc. (ENPH), one of the strongest semiconductors, got whacked when the market got hit recently, then it reversed, retested, broke out at the neckline on Tuesday, jumping 6.83, or 35%, to 34.34, with a high of 35.26, on 7.5 million shares traded, and another 43 cents, or 1.22%, to 34.76 in after-hours. It should probably get up to the gap at 38-38 1/2-39 short-term before pulling back. If it doesn’t pull back, it might blow to 40-45.

IMAC Holdings, Inc. (IMAC) is one of those stocks you don’t expect to come across, but someone in the trading room on Tuesday did and we followed it throughout the day as it went from 1.55, running upward 4.50, or 1000.5%, and closing at the session high at 4.95, on 29.4 million shares traded, before pulling back.

KB Home (KBH), one of many home builder stocks that did great on Tuesday, broke down in Feb, spiked, pulled back, and then on Tuesday spiked 4.27, or 38%, to 15.62, not far off the session high at 15.78, on 4.9 million shares traded, and another 33 cents, or 2.11%, beyond the high to 15.95. At this point, it may run up to the 21-range eventually, before pulling back.

Penn National Gaming, Inc. (PENN) had another strong day on Tuesday, jumping 3.41, or 34.8%, to 13.21, with a high of 14.39, on 24.4 million shares traded, and then an additional 49 cents, or 3.7%, to 13.70 in after-hours. That’s a strong-looking pattern, good volume. The next target is 18.

Virgin Galactic Holdings, Inc. (SPCE) got whacked from 43 in mid-Feb to 9 in just a month, then reversed, retested, and on Tuesday, popped 3.35, or 26%, to 16.32, after reaching a high of 17.44, on 31.4 million shares traded, and then another 18 cents, or 1.1%, to 16.50 in after-hours. The target, now, is at 19 3/4, roughly, at the 50-day moving average and lateral resistance.

Tuesday’s charts included S&P 500, NDX-X, DJ-20, iShares Russell 2000 ETF (IWM), VIX-X, T2106, American Airlines Group Inc. (AAL), ACM Research, Inc. (ACMR), Advanced Micro Devices, Inc. (AMD), Arrowhead Pharmaceuticals, Inc. (ARWR), Axsome Therapeutics, Inc. (AXSM), Beyond Meat, Inc. (BYND), Avis Budget Group, Inc. (CAR), Hertz Global Holdings, Inc. (HTZ), Carnival Corporation (CCL), The Chefs' Warehouse, Inc. (CHEF), Cornerstone Building Brands, Inc. (CNR), Carvana Co. (CVNA), Delta Air Lines, Inc. (DAL), DXC Technology Company (DXC), Enphase Energy, Inc. (ENPH), Eldorado Resorts, Inc. (ERI), Direxion Daily Financial Bull 3X Shares (FAS), IMAC Holdings, Inc. (IMAC), ImmunoGen, Inc. (IMGN), Inogen, Inc. (INGN), Iovance Biotherapeutics, Inc. (IOVA), KB Home (KBH), Direxion Daily S&P Biotech Bull 3X Shares (LABU), SMH, MGM Resorts International (MGM), Norwegian Cruise Line Holdings Ltd. (NCLH), NVIDIA Corporation (NVDA), Penn National Gaming, Inc. (PENN), Performance Food Group Company (PFGC), Dave & Buster's Entertainment, Inc. (PLAY), Royal Caribbean Cruises Ltd. (RCL), Redfin Corporation (RDFN), Roku, Inc. (ROKU), Red Robin Gourmet Burgers, Inc. (RRGB), Virgin Galactic Holdings, Inc. (SPCE), United Airlines Holdings, Inc. (UAL), Vapotherm, Inc. (VAPO), Slack Technologies, Inc. (WORK), and Zillow Group, Inc. (ZG).




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