Charts of the Day

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AMD, CGC, COOL, VSTM — Stock Charts to Watch

Charts of the Day video for Monday August 27th, 2018


Advanced Micro Devices, Inc. (AMD) had a monster fifth wave, but I’ll have to say that was a blow-off, fifth-wave top on Monday. It popped 1.28, or 5.34%, to 25.26, on 321 million shares. There’s some resistance, but it doesn’t mean it can’t extend further. I had a 27-dollar target, for those who asked me for a swing target. Let’s see if it holds or not, or follows through or not, the next target being 30 if it does. If not, don’t be surprised to see it pull back to the 23-4 zone.

Canopy Growth Corporation (CGC) has been up for seven days, and on Monday it was up 1.32, or 3%, to 46.32, on 22.5 million shares, with a high of 48.19. It did back off my targetand may or may not have been a reversal day. Until we see the reversal itself, my target is 52-3, if we can get there.

PolarityTE, Inc. (COOL) has been up six days in a row, eight out of the last nine and thirteen out of the last fifteen days. I like the way it’s acting, jumping another 1.41, or 5.23%, to 28.37, on 307,676 shares traded on Monday. I like the channel it’s in. I think it might extend. The target going forward is 32 1/2-33, if it gets through resistance at 29.20.

Verastem, Inc. (VSTM) is following through, up six days in a row in a nice-steady, rising pattern, popping 28 cents, or 3%, to 9.66, on 2.6 million shares o Monday. I’m looking for 10.65 and 12.00 going forward.

Stocks on the long side included Aurora Cannabis Inc. (ACBFF), Canopy Growth Corporation (CGC) Cronos Group Inc. (CRON), Tilray, Inc. (TLRY), Advanced Micro Devices, Inc. (AMD), ArQule, Inc. (ARQL), Bilibili Inc. (BILI), Codexis, Inc. (CDXS), Cerus Corporation (CERS), PolarityTE, Inc. (COOL), Endocyte, Inc. (ECYT), The Habit Restaurants, Inc. (HABT), HTG Molecular Diagnostics, Inc. (HTGM), iQIYI, Inc. (IQ), Momo Inc. (MOMO), Neptune Technologies & Bioressources Inc. (NEPT), Nutanix, Inc. (NTNX), RiceBran Technologies (RIBT), Tandem Diabetes Care, Inc. (TNDM), Verastem, Inc. (VSTM), Inc. (WUBA), Yirendai Ltd. (YRD), and Zuora, Inc. (ZUO).

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