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ADNT, AUDC, IRMD, LK, MDOT, QD — Stock Charts to Watch

Charts of the Day video for Tuesday July 23rd, 2019


The markets had a positive session after starting out sloppy. A lot of stocks we follow did well. We’ve added some new ones. Let’s take a look at a few swing trades here.

Adient plc (ADNT) popped 1.50, or 6.9%, to 23.21, on 2 million shares on Tuesday. I like this chart so much that I’ve been watching it continuously, and I decided on Tuesday, after breaking the falling wedge with some energy and good volume, I would put a swing on it. Now, I’m looking for a move to the 26 range, a gap-fill to 27 1/2, and then a run to 32-33.

AudioCodes Ltd. (AUDC), a stock we’ve been following for a couple years, which I put a swing on back in Oct/Nov 2017, has down very well over the last year and a half. On Tuesday, it made a new multi-year high, jumping 1.64, or 10%, to 18.09, on 1.4 million shares, reaching a high of 18.45. That’s the highest level in 20 years. The next target is 25.

IRadimed Corporation (IRMD) also popped on Tuesday, gaining 75 cents, or 4.08%, to 19.14, on 73,010 shares traded, with a high of 19.40. It got up to resistance. Let’s see if it can get through this level at 26.16. My next target is 28 1/4. If it gets through that, we could see a run to the top of the channel that comes in about 33-33 1/2.

Luckin Coffee Inc. (LK) is doing well. It exploded on Monday and had a nice follow-through on Tuesday, running up 1.78, or 8.23%, to 23.40, on 9.4 million shares traded. I’m looking for a run to the all-time high at 25.96 and take it into the high 20’s.

Microbot Medical Inc. (MBOT) had a big pop on Tuesday, moving up 1.67, or 32%, to 6.95, on 232,734 shares traded. That takes it out of a 2-month base but leaves it at resistance. If it can get up through the next target at 8 1/2, which is my near-term target, it could very well fly.

Qudian Inc. (QD) held the trendline and moving averages on Tuesday, and then popped 66 cents, or 8.4%, to 8.52, on 6.3 million shares. I’m looking for a move to 9.15 for it to get to 11.00.

Stocks on the long side included Achillion Pharmaceuticals, Inc. (ACHN), Adient plc (ADNT), AutoNation, Inc. (AN), AudioCodes Ltd. (AUDC), Beyond Meat, Inc. (BYND), Chiasma, Inc. (CHMA), Hasbro, Inc. (HAS), Iridium Communications Inc. (IRDM), Luckin Coffee Inc. (LK), Microbot Medical Inc. (MBOT), Polaris Industries Inc. (PII), Qudian Inc. (QD), Snap Inc. (SNAP), TerraForm Power, Inc. (TERP), and YETI Holdings, Inc. (YETI).




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