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ABBV, ARWR, CYH, HEAR, WW, ZYXI — Stock Charts to Watch

Charts of the Day video for Thursday October 3rd, 2019


AbbVie Inc. (ABBV), which I mentioned a month ago, reversed, had a moving average crossed over, ran up to resistance, and filled the gap.  But in the last couple days, it came down hard, tested the trendline and price support, and held. On Thursday, it snapped back 1.72, or 2.38%, to 73.85, on 6.1 million shares. The volume wasn’t huge, but I think we’ve seen the low on this stock. Also, the channel trendline in place for a year and a half was broken and retested. That’s a big deal, because the retest and follow-through to the upside on Thursday could result in a move to 76, 80, 83, and 85 long-term..

Arrowhead Pharmaceuticals, Inc. (ARWR) snapped back from its falling wedge on Wednesday, and on Thursday it gained 1.00, or 3.46%, to 29.92, on 798,178 shares traded.  It needs to get to 31 1/2-3/4, and then it’s on its way to retest a high up around 37 and 43 going forward.

Community Health Systems, Inc. (CYH), which I put a swing on Thursday, reversed its long-term decline with a breakaway gap at the 50 at the end of Aug.  It had an inside day the following day, then ran all the way up to resistance, formed a two-week flag, and broke out on Thursday, popping 20 cents, or 5.52%, to 3.82, on 2.1 million shares. Watch the level above 3.95 carefully. Targets are 4.95-5.20, and maybe as high as 5.95-6.25 down the road.

Turtle Beach Corporation (HEAR) reversed off the 21-day moving average and has continued to build a nice base. On Thursday, it popped 39 cents, or 3.71%, to 10.89, on 353,563 shares traded. Eventually, I’m looking for something in the 12-12 1/2 range, and then 14 and 17.

Weight Watchers International I (WW) came down hard at the trendline and on Thursday, bounced on an inside day, and  advanced 1.88, or 5.58%, to 35.47, on 1.85 million shares. We’ll have to see if it gets a follow-though. Targets are 38 and 43.

Zynex, Inc. (ZYXI) is looking awesome. It took a second big-volume day to break out of the coil. On Thursday, it was up 1.02, or 9.46%, to 11.80, on 1 million shares and made a nominal new high at 11.89. I think this may gap and run in the next couple days. I’m looking for 14 and 17 to be the next targets. Ultimately, I think it will run to 22-23.

Stocks on the long side included AbbVie Inc. (ABBV), Aurora Cannabis Inc. (ACB), Arrowhead Pharmaceuticals, Inc. (ARWR), Activision Blizzard, Inc. (ATVI), CrowdStrike Holdings, Inc. (CRWD), Community Health Systems, Inc. (CYH), Endo International plc (ENDP), Francesca's Holdings Corporation (FRAN), Turtle Beach Corporation (HEAR), Invitae Corporation (NVTA), Okta, Inc. (OKTA), VelocityShares 3x Long Natural Gas ETN (UGAZ), Weibo Corporation (WB), Weight Watchers International I (WW), and Zynex, Inc. (ZYXI).




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