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ABIL, CLPS, IVTY, SPPI — Stock Charts to Watch

Charts of the Day video for Tuesday June 26th, 2018


Ability Inc. (ABIL) jumped another 2.02, or 20%, to 12.02, on 7.3 million shares on Tuesday. This stock has now gone in four sessions from 2.21 to Tuesday’s high of 14.51, a 7-fold increase. It’s a thin stock that is trading a lot of volume, and is being manipulated, in my opinion. I would be very careful, not only because it’s up 600%, but because it’s in a resistance zone that’s going to be tough to get to without some sort of pullback. If it gets over 14.50, look for 17-18, which are the targets.

CLPS Incorporation (CLPS) is a new issue. It rocketed from 5.00 to almost 18.00, more than tripling in a week, and then rested for three days in a falling wedge. On Tuesday, it looked like it popped out, up 1.85, or 16%, to 13.52, on 655,764 shares traded. Targets are 15 and 17, and beyond that something in the 20-22 range is possible. Keep close tabs on 11.00, because under 11.00 we’re stopping it.

Invuity, Inc. (IVTY) broke out of a wedge on Tuesday and popped 50 cents, or 14%, to 4.00, on 544,747 shares traded. There is some resistance, but my next target has to be 4 3/4. If it gets through that, the secondary target and resistance are at 5 3/4.

Spectrum Pharmaceuticals, Inc. (SPPI), on positive drug news, may have broken out of a big wedge on Tuesday, with a breakaway gap, on 6.4 million shares, up 2.77, or 14 1/2%, to 21.75. I like the way it looks. At this point, look for a test of 23. If it gets through 23, it has a good shot at getting to 29.

Stocks on the long side included Ability Inc. (ABIL), Amyris, Inc. (AMRS), Blink Charging Co. (BLNK), Bovie Medical Corporation (BVX), CLPS Incorporation (CLPS), Endocyte, Inc. (ECYT), Enphase Energy, Inc. (ENPH), Gray Television, Inc. (GTN), Innovate Biopharmaceuticals, Inc. (INNT), Invuity, Inc. (IVTY), SemiLEDs Corporation (LEDS), Lam Research Corporation (LRCX), New York & Company, Inc. (NWY), Puma Biotechnology, Inc. (PBYI), R1 RCM Inc. (RCM), Spectrum Pharmaceuticals, Inc. (SPPI), and TransEnterix, Inc. (TRXC).

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