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AMD, BBBY, ENDP, SEAC, SGEN, XRX — Stock Charts to Watch

Charts of the Day video for Thursday October 31st, 2019


I want to let everyone know that every Thursday night, instead of the Charts of the Day, I am going to do a weekly review of all of the current and recent swings, going back the last three to five weeks.

Advanced Micro Devices, Inc. (AMD) popped 80 cents, or 2.4%, to 33.93, with a high of 34.34, on 68 million shares. I actually put this stock out on Thursday because I like the trend a lot. I think it’s going to take out resistance and move up into the 39-40 zone, and then eventually, mid-to-high 40’s. It’s looking really good and I like the way it’s acting, especially in leu of a pullback on semiconductors. This stock had an outstanding day.

Bed Bath & Beyond Inc. (BBBY) actually dropped 50 cents, or (-3.52%), to 13.70, with a high of 14.15, on 11.5 million shares. This stock is a nice swing from where we first gave it to you. It went from 12 to the target up about 15, and then pulled back on Thursday. I still think the pullback is an opportunity. Even though it’s is in an uptrend it but had pretty good volume to the downside. Still, the next target is 18.

Endo International plc (ENDP) has a beautiful set-up. It has a long downtrend, popped, formed a falling wedge, popped again, formed a larger wedge, broke out, and is now in a coil. That accounts for reason why it moved only 25 cents on Thursday, and closed flat at 4.59, but with a volume of 5.7 million shares. It has a good set-up. Scalper to 5.35, swing to 6 3/4, 8 1/4, and 11. I believe we’re going to see that eventually. This is a good swing.

SeaChange International, Inc. (SEAC) popped near mid-Oct, pulled back, and then ran up to resistance on Thursday, backed off, and closed up 5 cents, or 1.69%, to 3.01, with a high of 3.13, on 129,494 shares traded. Based on several factors, this stock is in a large, beautiful consolidation, which I think is going to lead to 4 1/4, and then eventually to 5 1/2-6.

Seattle Genetics, Inc. (SGEN) has a fantastic chart. It had a massive breakout a month ago, pulled back, had an entry opportunity, then it went 3 waves up in a rising channel, it formed a rising flag within a very bullish pattern, gained momentum on Thursday and took off. It jumped 2.80, or 2.68%, to 107.40, with a high of 107.46, on nearly a million shares. I think this stock is going to run up to 118-120 short-term.

Xerox Corporation (XRX) pulled back 19 cents to 33.93 on Thursday. I like the way it acted two days ago when it popped, and I put a swing on it. But, so far, no follow-through. Two-consecutive inside days tell me it might pop again. Once it gets through 36-36 1/2, I would look for 39, 40, and more.

Stocks on the long side included Advanced Micro Devices, Inc. (AMD), Avaya Holdings Corp. (AVYA), Bed Bath & Beyond Inc. (BBBY), California Resources Corporation (CRC), Community Health Systems, Inc. (CYH), Endo International plc (ENDP), Eton Pharmaceuticals, Inc. (ETON), Maxar Technologies Inc. (MAXR), Cloudflare, Inc. (NET), Newell Brands Inc. (NWL), ProQR Therapeutics N.V. (PRQR), Quotient Limited (QTNT), Rite Aid Corporation (RAD), Renewable Energy Group, Inc. (REGI), Arcadia Biosciences, Inc. (RKDA), SeaChange International, Inc. (SEAC), Seattle Genetics, Inc. (SGEN), Teladoc, Inc. (TDOC), Viavi Solutions Inc. (VIAV), Xerox Corporation (XRX), and Zynex, Inc. (ZYXI).




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