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AGEN, CCL, FRO, RAD, TDOC, TNK — Stock Charts to Watch

Charts of the Day video for Tuesday March 10th, 2020


Agenus Inc. (AGEN) spiked 46 cents, or 19.57%, to 2.81, just 3 cents off the session high at 2.84, on record volume of 16.4 million shares traded on Tuesday. That indicates a turn-around, especially when it closes above a double top. I’m now looking for a move to 3-3 1/4, and 3.15 is my next target.

Carnival Corporation (CCL) had a massive reversal bar on Tuesday, jumping 2.28, or 10.49%, to 24.02, closing not far off the session high at 24.18, on 45 million shares traded. This has an all-time record volume for one stock, after coming all the way down from 53 to 20.20 then reversed.

Frontline Ltd. (FRO), a shipping company, exploded 2.09, or 27.65%, to 9.65, after reaching a high of 9.98, on 6.7 million shares traded on Tuesday. That kind of volume usually comes on a reversal day. It has a breakaway gap, really strong volume, and closed at the upper end of the range. FRO blew through resistance and went up to the 50-day moving average before backing off. The target is 11 1/2.

Rite Aid Corporation (RAD) had a very strong move, popping 1.47, or 9.68%, to 16.65, with a high of 17.06, on 4.6 million shares traded on Tuesday. It had a run up into the resistance level, and, at this point, I will have to say, anything above 16.65, and this stock will retest the 19 range.

Teladoc Health, Inc. (TDOC) had a spectacular day on news that the company is going to get reimbursed for online and mobile medical help. It exploded 12.53, or 9.38%, to 146.07, after reaching a high of 150.97, and another 8.18, or 5.6%, taking it to 154.25 in after hours, on 5.4 million shares traded. If it moves on Wednesday, we should see 160-161.

Teekay Tankers Ltd. (TNK), another shipping company, exploded with a breakaway pop of 5.29, or 35.65%, to 20.13, with a high of 20.62, on 2.3 million shares traded on Tuesday. The inverse head-and-shoulders may be a buy for a move to 25.

Stocks on the long side included American Airlines Group Inc. (AAL), Agenus Inc. (AGEN), Ballard Power Systems Inc. (BLDP), BioXcel Therapeutics, Inc. (BTAI), Carnival Corporation (CCL), Compugen Ltd. (CGEN), China Online Education Group (COE), Direxion Daily Financial Bull 3X Shares (FAS), Frontline Ltd. (FRO), NVIDIA Corporation (NVDA), Rite Aid Corporation (RAD), Teladoc Health, Inc. (TDOC), Teekay Tankers Ltd. (TNK), Energy Select Sector SPDR Fund (XLE), SPDR S&P Oil & Gas Exploration & Production ETF (XOP), and Era Group Inc. (ERA).




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