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ADNT, CDMO, MAXR, NEOG, SSYS, XON — Stock Charts to Watch

Charts of the Day video for Wednesday July 24th, 2019


The markets opened lower on Wednesday, and then ran up all day with new highs. It was a really good trading environment as a lot of our stocks did well. Let’s take a look at some recent swing trades and see how they are doing.

Adient plc (ADNT) we’ve been watching for weeks as it’s developing a head-and-shoulders. After it pulled out of the falling wedge, I decided to put a swing on it a couple days ago and it’s starting to ramp. It was up another 1.61, or 7%, to 24.82, on 1.2 million shares on Wednesday. That’s good action. If it can get above the April high around 26ish, I’m looking for it to get into the low to mid 30’s in the 33 range.

Avid Bioservices, Inc. (CDMO), which I put a swing on four or five days ago, popped 21 cents, or 3.39%, to 6.40, on 258,527 shares traded on Wednesday, and then pulled back and consolidated. It formed a very bullish coil. When a stock ramps up and does that, it goes higher. I’m targeting 7 1/2 and 8 1/2.

Maxar Technologies Inc. (MAXR) formed a nice base, broke out, formed a falling wedge, and looks like it may have popped on Wednesday, eking out 50 cents, or 6.47%, to 8.23, on 1.4 million shares traded. It crossed the moving average and is not far from the trendline. I’m looking for it to hold at 8.23, then run to the 9.00 area, take out 10, and maybe move to 12 1/2-13 eventually.

Neogen Corporation (NEOG), which I put a swing on today, looks good. I love that base, the breakout, and the follow-through on Wednesday. It spiked straight up to 69.37, pulled back and closed up 3.44, or 5.24%, to 69.14, on 437,923 shares traded. My targets are 75 and 83 going forward.

Stratasys Ltd. (SSYS), which I put a swing on last week, pulled back a little bit, and then popped out on Wednesday, snapping back 43 cents, or 1.50%, to 29.02, on 459,979 shares traded. I’m still looking for this stock to make it up to 34. We’ll see if it does.

Intrexon Corporation (XON) broke out of a coil on Wednesday, and ran up 65 cents, or 8.38%, to 8.41, on 1.4 million shares, reaching a high of 8.45. It looks awfully good. I think that if it takes out resistance zone at 8 3/4, it may be headed to 10 1/2, and then 13.

Stocks on the long side included Adient plc (ADNT), Digital Turbine, Inc. (APPS), Beyond Meat, Inc. (BYND), Avid Bioservices, Inc. (CDMO), Chegg, Inc. (CHGG), Constellium SE (CSTM), Genomic Health, Inc. (GHDX), Barrick Gold Corporation (GOLD), Luckin Coffee Inc. (LK), Luna Innovations Incorporated (LUNA), Manhattan Associates, Inc. (MANH), Maxar Technologies Inc. (MAXR), Navient Corporation (NAVI), NeoGenomics, Inc. (NEO), NIO Inc. (NIO), Owens Corning (OC), Overstock.com, Inc. (OSTK), Impinj, Inc. (PI), Snap Inc. (SNAP), Stratasys Ltd. (SSYS), Teradyne, Inc. (TER), TerraForm Power, Inc. (TERP), Ultra Clean Holdings, Inc. (UCTT), United Parcel Service, Inc. (UPS), Workhorse Group Inc. (WKHS), Intrexon Corporation (XON).




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