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AMKR, AUDC, CRSP, IOVA, NEO, XRX — Stock Charts to Watch

Charts of the Day video for Tuesday October 29th, 2019

Amkor Technology, Inc. (AMKR), which over the last year, built a nice long base, formed a triple top, and on Tuesday, it exploded, and ran to new all-times highs, through double resistance and to the top of the channel, jumping 3.84, or 35%, to 14.92, with a high of 15.00 even, on 7.2 million shares. A breakout on this kind of volume usually indicates a thrust to a new trend or intermediate moves, which could take it, at least, to 17, 18, 19, maybe more. That was a massive, breakaway move and I think it’s going to go higher.

AudioCodes Ltd. (AUDC), which we’ve been talking about for three years, has gone from 2.80 all the way up to 22.00, seven-fold or even more. This stock is in a beautiful rising channel. You can see Tuesday’s pop of 1.51, or 7.82%, to 20.81, with a high of 21.12, on 714,017 shares traded after a really good earnings report, broke the recent consolidation. It popped with the best volume we’ve seen since July when it broke out. I think it will test Tuesday’s high, and if it gets through that, the short-term target is 22.50, intermediate is 25.

CRISPR Therapeutics AG (CRSP) is an old swing from back in March. It met our target in August, pulled back down, broke out, created a new rising channel, and on Tuesday, it exploded 4.07, or 9%, to 48.92, with a high of 49.00 even, on 1.3 million shares. It has taken it back up to test the 50-50 1/2 resistance. If it gets through that, 54 and 57 are the next targets going forward.

Iovance Biotherapeutics, Inc. (IOVA), finally convinced investors after the move up was abated by forming a flag, and then popping out of it on Tuesday, running up 97 cents, or 4.97%, to 21.20, with a high of 21.41, on 764,428 shares traded. If this gets through and above 21.90, this is a stock that’s going to start moving. Targets are 23 1/4, 26-26 1/2, and more.

NeoGenomics, Inc. (NEO) has had a beautiful uptrend since early 2018, it came down this August, in a mini, 5-wave move down, bounced, and then on Tuesday, it broke out, ramping up 2.50, or 12%, to 23.36, with a high of 23.51, on 1.9 million shares. That’s almost double the regular volume. It broke out across double tops and the 50-day moving average. It was absolutely stellar. Now, I’m looking for this stock to make a move back up to 25-26, even 28 1/2.

Xerox Corporation (XRX) is one of our stocks from a while back. It formed a V-bottom late December, popped, pulled back and did a 50% retracement in August, formed a right-handed extended V, and then on Tuesday, it had a big pop with a breakaway gap, jumping 3.63, or 12%, to 34.42, with a high of 35.86, on 6.1 million shares. I think key resistance is just overhead, but I put a swing on it, and it feels to me like it’s about to go ballistic to the channel top. A measured move on this one could get it to the mid 40’s, maybe 50. Stay tuned, it’s going to be interesting.

Stocks on the long side included Amkor Technology, Inc. (AMKR), AudioCodes Ltd. (AUDC), NF Energy Saving Corporation (BIMI), Cardlytics, Inc. (CDLX), CNX Resources Corporation (CNX), CRISPR Therapeutics AG (CRSP), Deciphera Pharmaceuticals, Inc. (DCPH), Eidos Therapeutics, Inc. (EIDX), Fitbit, Inc. (FIT), Perficient, Inc. (PRFT), Synthesis Energy Systems, Inc. (SES), TG Therapeutics, Inc. (TGTX), Texas Roadhouse, Inc. (TXRH), Varonis Systems, Inc. (VRNS), and Xerox Corporation (XRX).

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