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ACB, ARQL, ASUR, ASYS, AXSM, RIOT — Stock Charts to Watch

Charts of the Day video for Tuesday April 16th, 2019


Marijuana stocks perked up a little bit on Tuesday. Aurora Cannabis Inc. (ACB) was one of them, popping 37 cents, or 4.35%, to 8.88, on a strong 23 million shares. It’s not quite the breakout you want to see. Keep your eye on this one, though. If it breaks out of 9.30-.40 in the next couple days, you should see 10, and then 12 1/2. Keep your eye on support as well at 8.35-.40.

ArQule, Inc. (ARQL) broke out on Tuesday, bouncing 75 cents, or 13%, to 6.65, on 4.5 million shares. Volume was good. I like the look of it. I think it’s a swing. It popped across resistance, and I think it’s going retest the spike high at 7.21 from July of last year, which is my immediate target, and then I’m looking for 9 1/2.

Asure Software, Inc. (ASUR) exploded 1.16, or 16.34%, to 8.26, on 2.7 million shares. That’s the biggest volume I’ve ever seen on this stock. I put a swing on it Tuesday, with the kind of volume I saw, and the move, which I thought was huge. It got right to resistance at the gap, and it did back off a little bit, but held onto gains. At this point, I’m thinking 9 1/2 and 11 1/2, maybe 3/4.

Amtech Systems, Inc. (ASYS) has a beautiful-base breakout and pullback. This ongoing swing that looks like it broke out of a wedge on Tuesday, gained 20 cents, or 3%, to 6.97, on 119,702 shares traded. It should go to 7 1/2, and then 8 3/4, my next two targets.

Axsome Therapeutics, Inc. (AXSM), another swing that broke out of a coil on Tuesday and popped a little bit was up 1.17, or 8.18%, to 15.48, on 1.55 million shares. If it does get a push through 16 3/4, the next target has got to be 20.

Riot Blockchain, Inc. (RIOT), a swing trade of ours, looks like it’s about to explode right out of the wedge that formed. It popped 22 cents, or 4.67, to 4.93, on 1.7 million shares. Targets are in the 6-6 1/4-6 1/2 area, and then 9.00.

Stocks on the long side included Aurora Cannabis Inc. (ACB), Advanced Micro Devices, Inc. (AMD), ArQule, Inc. (ARQL), Asure Software, Inc. (ASUR), Amtech Systems, Inc. (ASYS), Axsome Therapeutics, Inc. (AXSM), EVERTEC, Inc. (EVTC), Extreme Networks, Inc. (EXTR), Freeport-McMoRan Inc. (FCX), McDermott International, Inc. (MDR), Puxin Limited (NEW), PhaseBio Pharmaceuticals, Inc. (PHAS), QUALCOMM Incorporated (QCOM), Riot Blockchain, Inc. (RIOT), UP Fintech Holding Limited (TIGR), Viomi Technology Co., Ltd (VIOT), and Western Digital Corporation (WDC).




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