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ABM, BYND, CDNA, MX, RKDA, VUZI — Stock Charts to Watch

Charts of the Day video for Wednesday June 12th, 2019


ABM Industries Incorporated (ABM) is one of our swing trades that we put out as a swing and it popped 21 cents to 39.83, on 464,873 shares traded on Wednesday, and then pulled back. All last week it consolidated. I like the look of it, and looking back a little bit further, It has been forming an inverse head-and-shoulders that could be pretty powerful. The recent spike got it to 41.34. If it can get up through that, then we’re looking at 45 as the next target.

Beyond Meat, Inc. (BYND) is getting a little out of control. It was up another 15.93, or 13%, to 141.97, on 17 million shares on Wednesday on good news from a restaurant chain. This stock had come down and plunged from 186 to 125, and then bounced back. It’s important to know that the 3-day highs, the day before the pop and two days after, is resistance. If this gets to 151, then I think it is going back up to 183. If it doesn’t, then it may plunge below 121. My next target has to be around the high 190’s.

CareDx, Inc (CDNA) is one of my top picks for the year, and was up 2.36, or 6.6%, to 38.12, on 502,685 shares traded on Wednesday. It’s been in a beautiful rising channel since it was under a dollar three years ago, and now it’s trading above 38.00. I think it’s up near its all-time high at 39 1/4, and if it gets through there, we’re looking at mid-40’s.

MagnaChip Semiconductor Corporation (MX) had a nice pop on Wednesday. It exploded 1.07, or 12%, to 9.90, on 1.5 million shares. More importantly, it broke out and pulled back. At this point, there’s resistance in the 10 1/2 range, but my targets are going to be 11 1/2 and 13.

Arcadia Biosciences, Inc. (RKDA) on Wednesday, had a nice session, popping 97 cents, or 20%, to 5.91, on 1 million shares. That’s the best volume we’ve seen in a couple of months. It popped with energy, and now I think it has a shot of moving up toward the 8-8 1/2 zone. We’ll see what happens going forward.

Vuzix Corporation (VUZI) had a nice follow-through on Wednesday, gaining just 9 cents, or 2.5%, to 3.71, on 4.6 million shares, but Wednesday’s high was way up there at 4 1/2. My day-trade target was 4.47 and it backed off. It has gone from 1.75 to 4.50, and I think it has pullback and fill. In addition, to that, there’s a big line of resistance up in that zone. Look for a pull back.

Stocks on the long side included ABM Industries Incorporated (ABM), Amyris, Inc. (AMRS), Digital Turbine, Inc. (APPS). Axsome Therapeutics, Inc. (AXSM), Beyond Meat, Inc. (BYND), CareDx, Inc (CDNA), Cronos Group Inc. (CRON), Corindus Vascular Robotics, Inc. (CVRS), VelocityShares 3x Invrs Crude Oil ETNNew (DWT), Bitcoin Investment Trust (GBTC), MagnaChip Semiconductor Corporation (MX), Neptune Technologies & Bioressources Inc. (NEPT), PCM, Inc. (PCMI), Pieris Pharmaceuticals, Inc. (PIRS), Arcadia Biosciences, Inc. (RKDA), Sea Limited (SE), SolarEdge Technologies, Inc. (SEDG), ShockWave Medical, Inc. (SWAV), Synlogic, Inc. (SYBX), Vuzix Corporation (VUZI), Intrexon Corporation (XON), ZIOPHARM Oncology, Inc. (ZIOP), and Zoom Video Communications, Inc. (ZM).




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