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AMBA, BURL, NTNX, PDD, PERI,TWTR — Stock Charts to Watch

Charts of the Day video for Thursday August 29th, 2019


Ambarella, Inc. (AMBA) had a big day, especially after hours. It jumped 2.25, or 5%, to 47.37, on 473,664 shares traded on Thursday, and then up another 9.47, or 20%, to 56.84 in after hours. This stock had a very long base, then exploded on Nov 30, going from 47 to 57, and now it’s in a bull flag. If it makes a move, I’m looking for a swing target of mid-60’s to the double top.

Burlington Stores, Inc. (BURL) had quite a move on Thursday, exploding 32.15, or 18 1/2%, to 205.42, on 5 million shares. That was a major breakout to new all-time highs. Now we have to site the mid-250’s as the next target.

Nutanix, Inc. (NTNX) had a huge day, ramping 4.41, or 22 1/2%, to 24.01 with a high of 26.00, on a whopping 26.4 million shares on Thursday. With a big day like that, we usually get a breakout above the moving average and trendline. Look for a pullback-entry opportunity. I’m looking for 28 1/2, and then 34-5.

Pinduoduo Inc. (PDD) has extreme relative strength to the upside. After the gap and rising wedge on Thursday, it popped 2.68, or 8.66%, to 33.61, on a huge 15 million shares. It reached a new all-time high of 33.88. It looks to me like it’s headed to the high 30’s.

Perion Network Ltd. (PERI) has a swing on it and it’s still working great. It gained 31 cents, or 5%, to 6.58, on 321,430 shares traded on Thursday. This stock is four waves up and the fifth one started. I’m looking for a run that could take this all the way up to the 9-9 1/2 level going forward.

Twitter, Inc. (TWTR) is looking much better and set up to go, I think. It was up 81 cents, or 2%, to 42.49, on 10 million shares on Thursday, with a high of 43.48. If it should break out, I’m looking for 47-8, and then 52.

Stocks on the long side included Ambarella, Inc. (AMBA), Digital Turbine, Inc. (APPS), Burlington Stores, Inc. (BURL), Fossil Group, Inc. (FOSL), Guess', Inc. (GES), GMS Inc. (GMS), Lannett Company, Inc. (LCI), Lattice Semiconductor Corporation (LSCC) Nutanix, Inc. (NTNX), Pinduoduo Inc. (PDD), Perion Network Ltd. (PERI), Photronics, Inc. (PLAB), Arcadia Biosciences, Inc. (RKDA), Shoe Carnival, Inc. (SCVL), Sientra, Inc. (SIEN), Talend S.A. (TLND), Tilly's, Inc. (TLYS), Twitter, Inc. (TWTR), Weight Watchers International I (WW), and XPO Logistics, Inc. (XPO).




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