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AAXN, DQ, IIN, PII, SFLY, VICR — Stock Charts to Watch

Charts of the Day video for Tuesday December 4th, 2018

AAXN, DQ, IIN, PII, SFLY, VICR

Axon Enterprise, Inc. (AAXN), formerly TASR, had a big drop in July, formed a rising wedge before it collapsed, double-topped, and rolled over, going from 75 to 42, it bounced, and on Tuesday it reversed and dropped another 1.54, or 3.4%, to 43.64, on 948,586 shares traded. This was one of the worst closes since May. It does have some downside support at 41, and if it gets ugly, we could see 37.

Daqo New Energy Corp. (DQ) formed a bear flag back in June, rolled over from the mid 40’s to the low 20’s, bounced around and formed a big wedge, and on Tuesday, it was down 1.53, or 5.77%, to 24.97, on 138,245 shares traded. If it breaks down look for 21, and 18 are targets.

IntriCon Corporation (IIN) dropped 1.00, or 2.83%, to 34.34, on 261,414 shares traded. The top on this was just too compelling. I gave the short around 52, it made it down to around 31, formed a bear flag, and on Tuesday it had a nasty reversal bar, after spiking up right to the channel top, it reversed and closed with a loss for the day. That’s what we call an engulfing bearish bar. I can see this going to at least 31, and it wouldn’t shock me if it went to the mid 20’s.

Polaris Industries Inc. (PII) we put out as a swing not too long ago. It broke support, and then rallied right back to it. It fell hard on Tuesday, dropping another 9.99, or 10%, to 91.63 from 101.62, on 719,606 shares traded. This one looks like it’s headed to 79-80.

Shutterfly, Inc. (SFLY) is getting slammed dunked and hard. This stock has come from June’s high of over 100, to Tuesday’s low of under 48.00, dropping another 2.15, or 4.33%, to 47.53, on 1.1 million shares. I would not be shocked if it makes a dive into the low 40’s

Vicor Corporation (VICR) was first a nice long stock that we had, and now it’s a short. Two obvious bear flags in the last six weeks tell me that it’s going lower. On Tuesday it was down another 3.13, or 8%, to 35.34, on 371,391 shares traded. Targets are 28, 24, and eventually 21.

On the short side, stocks included Axon Enterprise, Inc. (AAXN), AxoGen, Inc. (AXGN), TopBuild Corp. (BLD), Copart, Inc. (CPRT), CRISPR Therapeutics AG (CRSP), Cutera, Inc. (CUTR), Daqo New Energy Corp. (DQ), Electronic Arts Inc. (EA), Fortinet, Inc. (FTNT), GrubHub Inc. (GRUB), Installed Building Products, Inc. (IBP), IntriCon Corporation (IIN), IRadimed Corporation (IRMD), Intuitive Surgical, Inc. (ISRG), Medifast, Inc. (MED), Norbord Inc. (OSB), Polaris Industries Inc. (PII), PTC Inc. (PTC), PVH Corp. (PVH), Shutterfly, Inc. (SFLY), and Vicor Corporation (VICR).




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