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ACAD, AMSC, RUN, SEDG — Stock Charts to Watch

Charts of the Day video for Wednesday November 28th, 2018

ACAD, AMSC, RUN, SEDG

ACADIA Pharmaceuticals Inc. (ACAD) had quite a day on Wednesday after getting crushed on a secondary all the way down under 17. It then gapped up and opened 19.10 red to 20.67, and closed up 3.53, or 21%, to 20.53, on 10 million shares. That was an impressive day for this stock, closing not only above resistance and lateral price resistance, but 50-day moving average as well. This may very well run to 23. If it gets through the 23 1/2 area, 26-7 is the next target.

American Superconductor Corporation (AMSC), one of our swing trades, after the falling wedge held the moving averages and recent prior highs with a snapback. It gained another 40 cents, or 4.45%, to 9.39, on 321,938 shares traded on Wednesday. Watch for a move to take out 9.90, and then it has to move up to 11, and 12 1/4.

Sunrun Inc. (RUN), another solar, broke out, followed through, then it had an up-day on Wednesday, advancing another 42 cents, or 3%, to 14.53, on 2.9 million shares. It ran up to resistance and may try to run up to the 15 1/2-16 1/2 zone. Once it gets through that, it will be on its way to a much bigger move. If it gets through 17, you may see 20-24 on this one.

SolarEdge Technologies, Inc. (SEDG) looks to me like the declining topsline may have been taken out. On Wednesday, it popped 3.02, or 7.63%, to 42.61, on 900,325 shares traded. That’s decent volume for this stock. It’s right up against resistance at 40 3/4. Any movement across here and it could run to 49-51, and possibly, at some point, the 57 range again. For now, though, targets are 49-50, and then the high 50’s.

Stocks on the long side included ACADIA Pharmaceuticals Inc. (ACAD), Alaska Air Group, Inc. (ALK), American Superconductor Corporation (AMSC), Sphere 3D Corp. (ANY), Bilibili Inc. (BILI), BioScrip, Inc. (BIOS), Codexis, Inc. (CDXS), salesforce.com, inc. (CRM), Crocs, Inc. (CROX), eHealth, Inc. (EHTH), JinkoSolar Holding Co., Ltd. (JKS), New Age Beverages Corporation (NBEV), NIO Inc. (NIO), Sunrun Inc. (RUN), SolarEdge Technologies, Inc. (SEDG), Guggenheim Solar ETF (TAN), VelocityShares 3x Long Natural Gas ETN (UGAZ), United States Natural Gas (UNG), Vericel Corporation (VCEL), Vocera Communications, Inc. (VCRA), Wayfair Inc. (W), and YETI Holdings, Inc. (YETI).




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