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AG, DGII, INSG, LK, MAXR, SEED — Stock Charts to Watch

Charts of the Day video for Monday December 30th, 2019


Happy New Year Everyone! Let’s see if we can make this our best year yet!!!

First Majestic Silver Corp. (AG) looks really good. I think the long-term pattern is indicative of what’s going on in the metal’s market. The base that developed from May 2018 to June 2019 took off at the 5 1/2 range, it ran up to 11 1/2, pulled back and consolidated for four or five months, and now it’s setting off again, on Monday breaking out 52 cents, or 4.37, to 12.41, with a high of 12.60, on 5.6 million shares. I’m now looking for 14 1/2-15 zone, and then maybe 17 3/4-18 going forward. This stock looks pretty darn good!

Digi International Inc. (DGII) is one of my picks for the year. It popped, broke out, pulled back in an orderly fashion, popped again, pulled back, retested support, and on Monday, it reversed and ran up 70 cents, or 4%, to 18.06, reaching a high of 19.14, on 343,634 shares traded. That was an engulfing, bullish day for this stock. Next targets are 22 and 25.

Inseego Corp. (INSG) is also one of our picks of the year. Near term, it popped out, then broke out, formed a wedge, and on Monday, it popped out of the wedge, gaining 37 cents, or 5.2%, closing at 7.48, to a high of 7.62, on 2 million shares traded. I think this stock is going to run up to 9, 11, and maybe 15-16 by the end of the year.

Luckin Coffee Inc. (LK) continues to look good. It is a swing, but not a top pick because I’m not sure of the price and how much further it can go from a percentage standpoint. However, on Monday, it jumped 1.34, or 3.68%, reaching a 52-week and Monday’s closing session at 38.68, on 12.7 million shares. I do believe we’re going to see something in the high 40’s near or intermediate term.

Maxar Technologies Inc. (MAXR) has a beautiful long-term base, it broke out, formed a wedge, and on Monday, it broke out of the wedge with a breakaway gap, jumping 2.20, or 15.4%, to 16.49, reaching a new 52-week and session high of 17.59, on 8.8 million shares. I’m looking for a move to 20-21, and maybe to as high as 29-30 over the next few weeks.

Origin Agritech Limited (SEED), on very positive news out of China on Monday, exploded 1.13, or 24.4%, to 5.76, with a high of 6.70, on 552,389 shares traded. This stock literally went from 2.00 to 4.76 to 6.70. With that kind of volume on Monday, which I’ve never seen before on this stock, I wouldn’t be shocked to see 7-7 1/2 near term.

Stocks on the long side included First Majestic Silver Corp. (AG), Bloom Energy Corporation (BE), Cidara Therapeutics, Inc. (CDTX), Cerence Inc. (CRNC), Digi International Inc. (DGII), EyeGate Pharmaceuticals, Inc. (EYEG), Inseego Corp. (INSG), IVERIC bio, Inc. (ISEE), Eastman Kodak Company (KODK), Luckin Coffee Inc. (LK), Maxar Technologies Inc. (MAXR), NIO Inc. (NIO), Oncolytics Biotech Inc. (ONCY), Otonomy, Inc. (OTIC), Cassava Sciences, Inc. (SAVA), Origin Agritech Limited (SEED), Savara Inc. (SVRA), Valaris (VAL), Veru Inc. (VERU), and Xunlei Limited (XNET).




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