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AMAT, EIDX, JYNT, PHG, RARX — Stock Charts to Watch

Charts of the Day video for Monday July 22nd, 2019

Applied Materials, Inc. (AMAT), a semiconductor stock got a lift on Monday after Goldman Sachs put out some bullish comments on this sector. It gapped up at the opening, came down sharply, ran up, consolidated, pulled back, broke out, and then came down to 50.06 right at the noon hour. In 5 days this stock has gone from 46.10 to 50.80 and looks like it may be forming an up-channel. It had a very volatile afternoon, but closed up 2.92, or 6.11%, to 50.73, on 29 million shares, at the high for the day at 50.80. Going forward, targets are 52 1/2, 55, 57 1/2, and maybe 60. Resistance is around 60.90.

Eidos Therapeutics, Inc. (EIDX) jumped 1.68, or 4.82%, to 36.53, on 187,424 shares traded on Monday. It opened to the upside, made a little pop, moved sideways, and midmorning it cratered to the lows for the day at 35.06. It rallied, moved sideways again, and then shot up to morning highs, came down, rallied, and for the rest of the session it consolidated, formed coils and wedges. At one point, it came 5 waves down, and then took off again, consolidating and wedging, and closed near the high for the day. Targets are 37 1/2, 40, 42 1/2, and 45. Resistance is at 41.35.

The Joint Corp. (JYNT) had a 12 cents gap up opening on Monday. It got a spike high with volume, pulled back to trendline support, ran up, and with much volatility, it moved in the pullback-pop pattern all day in a rising channel, reaching the session high early afternoon. With less than an hour to go, it had one last strong pullback, came down, consolidated and closed up 1.24, or 6.38%, to 20.68, on 685,973 shares traded, with a high of 21.18. It’s up another 32 cents in after-hours. The trend strength for a swing is very compelling. Targets are 22 1/2 and 25, and the swing target and resistance is at 21.18.

Koninklijke Philips (PHG) had a strong earnings report on Monday. It gained 2.67, or 6.14%, to 46.18, on 1.6 million shares, with a high of 46.37. That’s good volume for this stock. It gapped up and ran up in a rising channel most of the day, coming down slightly in late afternoon on profit taking. It traded in a very tight, trading range, almost like a narrowing coil. It looks like it has more to go. Targets are 37 1/2 and 50. There’s resistance at 46.07.

Ra Pharmaceuticals, Inc. (RARX) gapped up slightly at the opening on Monday, moved 5 waves up, thrust higher, consolidated in a rising channel, reached morning highs, pulled back, and at the start of the noon hour, it rallied to the session highs at 36.24. it made a slide down, bounced, wedged, wedged, wedged, came down on profit taking to trendline support, popped, and consolidated into the close, snapping back 2.45, or 7.34%, on 35.99, on 411,968 shares traded. This is slightly lower volume. Targets are 37 1/2, 40, 42 1/2, and swing target is at resistance at 36.25.

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