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ABBV, APHA, TWLO, VNDA — Stock Charts to Watch

Charts of the Day video for Wednesday December 26th, 2018


AbbVie Inc. (ABBV) was up 4.88, or 5.8%, to 89.04, on 6.2 million shares on Wednesday. It looks like a V-bottom, a run up to resistance, it pulled back, formed a falling wedge, and then popped on Wednesday. It took it out across resistance. It’s looking better than it had been. What I am going to be looking for is multiple resistance to be taken out. Targets are 95, 99, and the 104-106 area.

Aphria Inc. (APHA) popped 27 cents, or 5%, to 5.72, on 7 million shares on Wednesday. I still like the V-bottom on this stock, with the big engulfing reversal bar, the slow pullback, and then the 3-wave corrective channel. It reversed on Monday, which was not a good day, the DOW down over 400 points, and on Wednesday it was up a little bit more before it backed off at resistance, which was about 6.15-.20. My targets going forward are 7, 7 3/4, and then all the way up to the 9-10 zone.

Twilio Inc. (TWLO) spiked up 9.80, or 13%, to 85.39, on 5.4 million shares on Wednesday, and closed at the high for the day going away. I like this stock, and almost put a swing on it on Wednesday. The market favored this stock, too. It looks to me like it can extend here, but there might be some resistance around 90-91. My targets are 99 and 108.

Swing trade Vanda Pharmaceuticals Inc. (VNDA), in an orderly decline, came out of a falling wedge on Wednesday, and popped 2.17, or 9%, to 25.95, on 612,254 shares traded. I like the look of this stock. We’ll see if it can extend with a bounce off 50. There’s some lateral resistance right near the close on Wednesday. If it gets up through here, targets are 29 1/2-30, and the 33.

Stocks on the long side included AbbVie Inc. (ABBV), Adial Pharmaceuticals, Inc. (ADIL), Aphria Inc. (APHA), California Resources Corporation (CRC), Crocs, Inc. (CROX), GenMark Diagnostics, Inc. (GNMK), Direxion Daily S&P Biotech Bull 3X ETF (LABU), Lululemon Athletica Inc. (LULU), NF Energy Saving Corporation (NFEC), Okta, Inc. (OKTA), Qutoutiao Inc. (QTT), SendGrid, Inc. (SEND), Teladoc, Inc. (TDOC), Twilio Inc. (TWLO), VelocityShares 3x Lng Crude Oil ETN New (UWT), Vanda Pharmaceuticals Inc. (VNDA), Vitamin Shoppe, Inc. (VSI), and XPO Logistics, Inc. (XPO).

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