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AMRN, CGC, CRC, KDP, TAL, VCYT — Stock Charts to Watch

Charts of the Day video for Wednesday January 9th, 2019

AMRN, CGC, CRC, KDP, TAL, VCYT

Amarin Corporation plc (AMRN) had a little snapback breakout on Wednesday, popping 1.12, or 8%, to 15.03, on 14 million shares. It looks like the declining topsline was taken out with a pop, it went up to resistance and backed off. Watch this on Thursday. If it can get through 15.80, then targets are going to be 17 and 19.

Canopy Growth Corporation (CGC), a marijuana stock, was looking really good on Wednesday. I like the whole group now. It is starting to emerge, the falling wedge has broken, there was a slow ascent, and the boom, off they go, jumping 3.96, or 13.36%, to 33.60, on 16.8 million shares. That’s the biggest volume in two months. It tells me that it’s breakout time. There’s a little bit of resistance up at 6 1/2, but if it can get through that, we’re looking at mid-to-high 4’s.

California Resources Corporation (CRC), one of my favorite oil stocks, dropped from 50 down to 13 1/2 over the last three months, then went from 13 1/2 to 21 the last week and a half, and on Wednesday, it ran 1.20, or 6%, to 21.13, on 2.6 million shares. It looks like it’s going to test the 22.90 area as early as Thursday. If it gets through that, you’re looking at 26-26 1/2.

Keurig Dr Pepper Inc. (KDP) continued moving up in the last four days, and on Wednesday, they gained another 58 cents, or 2.24%, to 26.47, on 4.7 million shares. Look for it to reach the 27 range as early as Thursday morning. If it gets through that, targets are 29, and eventually 32.

TAL EducationGroup (TAL) also popped out of a falling wedge on Wednesday, with a breakout to the 50, popping another 1.49, or 5.43%, to 28.95, on 6.6 million shares. Watch the 30-30 1/4-35 range for a potential clue as to whether it’s going to extend to 33 1/2, and then 35 1/2.

Veracyte, Inc. (VCYT) has been up five days in a row, and on Wednesday, another 66 cents, or 5%, to 15.20, on 235,226 shares traded. November’s high was 15.50, and Wednesday’s high came in at 15.39. If it gets through here, I’m looking for a move that takes it to 18-19 to wave 5. This is a great-looking chart.

Stocks on the long side included Amarin Corporation plc (AMRN), Aphria Inc. (APHA), Bilibili Inc. (BILI), BioScrip, Inc. (BIOS), Canopy Growth Corporation (CGC), California Resources Corporation (CRC), Cronos Group Inc. (CRON), Crocs, Inc. (CROX), Epizyme, Inc. (EPZM), Exelixis, Inc. (EXEL), Direxion Dly S&P Oil&Gs Ex&Prd Bl 3X ETF (GUSH), HUYA Inc. (HUYA), Intelligent Systems Corporation (INS), KB Home (KBH), Keurig Dr Pepper Inc. (KDP), Kandi Technologies Group, Inc. (KNDI), K12 Inc. (LRN), Mirati Therapeutics, Inc. (MRTX), New Age Beverages Corporation (NBEV), NovoCure Limited (NVCR), Pinduoduo Inc. (PDD), Square, Inc. (SQ), TAL Education Group (TAL), United States Oil (USO), VelocityShares 3x Lng Crude Oil ETN New (UWT), Veracyte, Inc. (VCYT), and Veoneer, Inc. (VNE).




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