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ABBV, BW, HIIQ, RAD — Stock Charts to Watch

Charts of the Day video for Thursday September 26th, 2019

AbbVie Inc. (ABBV), which I’ve been following for a long time, made a monster move going from the end of 2014 to 2017 to the 125-130 range. It spent about a year and a half coming down, and now it looks like it may be bottoming. It crossed over the declining topsline but has come up to resistance at the gap. On Thursday, it jumped another 1.94, or 2.69%, to 74.03, on 10.2 million shares. I can see that it was coming up to key resistance. If it gets through here, I’m looking for 80-1, 85 long-term, and eventually, the low 90’s.

Babcock & Wilcox Enterprises, Inc. (BW) swing trade pulled back in a nice little wedge on Thursday and popped 19 cents, or 4.11%, to 4.81, on 378,207 shares traded. It’s ready to make another move. If it gets through 5.45, targets are 7.00 and 8.00.

Health Insurance Innovations, Inc. (HIIQ) is also moving and popped to resistance, pulled back on Thursday, and then popped 1.74, or 7.85%, to 23.90, on 892,310 shares traded. That’s the best volume in about a month. I’m thinking it’s going up to 24 1/2, 27 1/2, 28, and eventually 34.

Rite Aid Corporation (RAD) had a pop, a break in resistance, and a steep pullback that disappointed me, to say the least. I put a swing on it and it immediately stopped out. However, it gained 14 cents, to 7.83, on 19 million shares on Thursday. That’s the biggest volume I’ve ever seen on the stock. With the left shoulder-head-right shoulder developing, any move through the neckline that would be over 10, should get this to 11 1/2 and 14. Those are the targets.

Stocks on the long side included AbbVie Inc. (ABBV), Babcock & Wilcox Enterprises, Inc. (BW), CEL-SCI Corporation (CVM), Express, Inc. (EXPR), Turtle Beach Corporation (HEAR), Health Insurance Innovations, Inc. (HIIQ), Precipio, Inc. (PRPO), Rite Aid Corporation (RAD), The RealReal, Inc. (REAL), Realogy Holdings Corp. (RLGY), Scorpio Tankers Inc. (STNG), and 22nd Century Group, Inc. (XXII).

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