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ADNT, ATNX, ENPH, EVER, NEOG, XNCR — Stock Charts to Watch

Charts of the Day video for Tuesday August 6th, 2019


Adient plc (ADNT), which we put out as a swing, came down and violated the stop at about 19.80, went back down to 19.18, and on Tuesday, it exploded for 6.15, or 32%, to 25.45, on 5 million shares. I’m going to reinstitute the swing because I love this chart pattern – left shoulder-head-right shoulder complex – and now it has to get to the neckline. If it pops out above 20.60 with any amount of energy, it could get close to 25.45. It has good volume. I think it’s going to make it. The next target is 33.

Athenex, Inc. (ATNX) jumped 1.01, or 5.625, to 18.98, on 596,536 shares traded on Tuesday. In May it had a beautiful pop, formed a wedge, and then had an explosive moved and flagged. To me, it looks like it’s four waves up and the fifth wave might be underway and take this stock past 21 3/4, and into the mid 20’s. That’s my target. The stop is under the 20.40-.50 zone.

Enphase Energy, Inc. (ENPH) exploded for a few days and then came down for a few days, held the gap, and on Tuesday, it popped 1.27, or 4.63%, to 28.72, on 4.85 million shares. It’s nothing spectacular, but if it gets out of that consolidation, it could rip into the high 30’s, maybe the low 40’s.

EverQuote, Inc. (EVER), a marijuana stock, had a special day on Tuesday and went ballistic, rocketing 6.50, or 49%, to 19.70, on 3.2 million shares. It popped and coiled and broke out, popped and wedged and broke out, coiled all day, and then at the very end of the day, it popped to 19.97. The entry point was at 18.49-.50. This stock was a nice day trade, but, more importantly, on a daily basis, it has broken through the top of the channel and may start to accelerate here. The all-time spike high is 22. That will be the target going forward.

Neogen Corporation (NEOG) is a swing trade of ours. After pulling back for a couple days, it snapped right back, gaining 1.78, or 2.59%, to 70.49, on 133,260 shares traded on Tuesday. That’s not a lot and the volume was big, but I want to point out that the base breakout and then the little platform and it may run up to 76 and then 82. Those are the targets going forward.

Xencor, Inc. (XNCR) built a beautiful base, we put a swing on it there and it pulled back, and then took off on an explosive move that went from 28 3/4 to the mid 40’s at 45 1/2. It flagged for three or four weeks, and on Tuesday, it popped 1.88, or 4.24%, to 46.27, on 267,050 shares traded, reaching a high of 46.33, so it closed pennies off the high. It looks like it wants to run. Watch 48.38, which is the swing target. If it gets through that it could get to low to mid 50’s.

On the long side, stocks included Adient plc (ADNT), Allakos Inc. (ALLK), Athenex, Inc. (ATNX), Corindus Vascular Robotics, Inc. (CVRS), Enphase Energy, Inc. (ENPH), EverQuote, Inc. (EVER), Itron, Inc. (ITRI), Neogen Corporation (NEOG), Niu Technologies (NIU), Overstock.com, Inc. (OSTK), Stemline Therapeutics, Inc. (STML), Xencor, Inc. (XNCR), and Intrexon Corporation (XON).




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