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AMRN, AUDC, TDOC, TEX — Stock Charts to Watch

Charts of the Day video for Tuesday October 23rd, 2018


Amarin Corporation plc (AMRN) is beautiful. In this market rally it immediately responded. On Tuesday, it took out resistance and closed at a new high at 21.92, popping 1.64, or 8.29%, to 21.43, on 14 million shares. Targets are 25, and maybe 27 1/2.

AudioCodes Ltd. (AUDC) had a fantastic day on Tuesday. It blew out earnings report, exploding on 1.2 million shares, the best volume I’ve ever seen on this stock. It jumped 2.32 or 24%, to 12.01, reaching a high of 12.17. There were days when it hit 5,000 earlier in the year, but never a million. It could be an explosive breakaway day. I’m looking for a move to 14.

Stocks on the Short Side….

Teladoc, Inc. (TDOC), unfortunately, looks like it’s completely reversed that beautiful trend. On reversal day it was at 89, but has dropped all the way down to 62, bouncing weekly in my opinion, to 72. On Tuesday it was down another 1.96, or 2.8%, to 67.18, on 2.2 million shares. It might roll over. If it uses that volume to get through resistance, look for a rollover that gets it down to 55 and 53.

Terex Corporation (TEX) also got whacked on Tuesday, dropping 1.12, or 3.4%, to 31.74, on 2.1 million shares. Some of these stocks are extremely oversold looking for a bounce. I do think some of them need to be closely monitored for a potential snapback consolidation, this one in particular, before it rolls over anymore. Eventually, I’m looking for 29 and 25.

Stocks on the long side included Applied Genetic Technologies Corporation (AGTC), Amarin Corporation plc (AMRN), AudioCodes Ltd. (AUDC), Cardiome Pharma Corp. (CORV), CryoLife, Inc. (CRY), Dynavax Technologies Corporation (DVAX), the VelocityShares 3x Invrs Crude Oil ETNNew (DWT), Pyxus International, Inc. (PYX), the ProShares UltraPro Short S&P500 (SPXU), the ProShares UltraPro Short QQQ (SQQQ), the VelocityShares Daily 2x VIX ST ETN (TVIX), and the ProShares Ultra VIX Short-Term Futures (UVXY).

On the short side, stocks included AxoGen, Inc. (AXGN), Barrett Business Services, Inc. (BBSI), The Chemours Company (CC), Copart, Inc. (CPRT), CRISPR Therapeutics AG (CRSP), Daqo New Energy Corp. (DQ), IntriCon Corporation (IIN), Intuitive Surgical, Inc. (ISRG), Scientific Games Corporation (SGMS), The Scotts Miracle-Gro Company (SMG), Teladoc, Inc. (TDOC), Terex Corporation (TEX), LendingTree, Inc. (TREE), Wayfair Inc. (W), and Wynn Resorts, Limited (WYNN).

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