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ABEO, APHA, HEAR, WGO, XPO, ZYXI — Stock Charts to Watch

Charts of the Day video for Tuesday October 15th, 2019

Abeona Therapeutics Inc. (ABEO), which is a swing trade, popped and pulled back. It followed through, but couldn’t get the volume I needed, and then it pulled back. This pattern is considered a falling wedge, and on Tuesday, it popped out and gained 54 cents, or 24.88%, to 2.71, with a high of 2.84, on 2 million shares. If it continues to move forward, initial targets are 3 1/2 and 4 3/4.

Aphria Inc. (APHA) may have led the marijuana stocks back up again. You can see the long declining channel this stock has, going from Sept 2018, trading at 17, down to 4, and change. On Tuesday, it had a big breakaway gap that took it up 1.07, or 24.54%, to 5.43, with a high of 5.54, on 18 million shares. Resistance is at the prior high at 5.53. I suspect APHA will run up on Wednesday to at least 5.80, and then maybe to 6.00-6.10.

Turtle Beach Corporation (HEAR), which I put a swing on when it popped and pulled back, has now popped out again on Tuesday, gaining 73 cents, or 6.4%, to 12.11, with a high of 12.25, on 613,756 shares traded. I think it’s ready to go, but I need more volume. There is resistance at 12 3/4. If it can get through that, I’m looking for 14 1/2, and then 16.

Winnebago Industries, Inc. (WGO) popped out of a wedge on Tuesday at resistance, and jumped 2.04, or 5.3%, to 40.49, with a high of 41.07, on 631,071 shares traded. If this inverse head-and-shoulders breaks out, this could be a 47-dollar stock. Secondary target is at 56.

XPO Logistics, Inc. (XPO) is extending its move after breaking out two days ago. It has been up five days in a row and is at resistance. On Tuesday, it was up 1.17, or 1.57%, to 75.85, with a high of 76.96, on 904,970 shares traded. The next target is 85 and 93.

Zynex, Inc. (ZYXI) popped out of a wedge and followed through on Tuesday from Monday’s move, and backed off, but still popped 32 cents, or 2.78%, to 11.83, with a high of 12.56, on 605,283 shares traded. I would like to see it come on again and hold support at around 11 1/4. Then, if it gets through that, my target is 13 1/2, 15, and eventually 17, or more.

Stocks on the long side included Abeona Therapeutics Inc. (ABEO), Aphria Inc. (APHA), Constellation Pharmaceuticals, Inc. (CNST), Express, Inc. (EXPR), FormFactor, Inc. (FORM), Francesca's Holdings Corporation (FRAN), Glu Mobile Inc. (GLUU), Turtle Beach Corporation (HEAR), Horizon Pharma Public Limited Company (HZNP), Intelsat S.A. (I), NVIDIA Corporation (NVDA), Seattle Genetics, Inc. (SGEN), Relmada Therapeutics, Inc. (RLMD), Seattle Genetics, Inc. (SGEN), Square, Inc. (SQ), 21Vianet Group, Inc. (VNET), Winnebago Industries, Inc. (WGO), XPO Logistics, Inc. (XPO), and Zynex, Inc. (ZYXI).

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