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AMRN, DAL, LSCC, PENN, SM, UAVS — Stock Charts to Watch

Charts of the Day video for Wednesday April 29th, 2020


Amarin Corporation (AMRN) continues to press higher and doubled since the swing was put on it the last two and a half weeks. On Wednesday, it popped 44 cents, or 5.6%, to 8.26, after reaching an early session high at 8.46, on 14.1 million shares traded, and in after-hours it was up another 41 cents. There is some resistance at the spike low from back in March at 8 1/2. Since it moved up near there on Wednesday, it might be ready for a pullback. However, if it extends, my target is up near the 10-10 1/2 zone, then I expect a pullback.

Delta Air Lines, Inc. (DAL) didn’t do well until the last couple days when they received government financing, going from 22 to 27 1/2 in just two day. On Wednesday, it jumped 2.98, or 12.2%, to 27.32, with a session high of 27.60, on 80 million shares traded, and another 1.04 in after-hours. It’s about to the fill the gap. If it fills the gap it could pop to 28.40. And if it gets through that, we could see a run to the 30-32-33 range, and then I think it is overextended. Although, momentum could carry it into the high 40’s.

Lattice Semiconductor Corporation (LSCC) broke through resistance on Wednesday and jumped 2.76, or 14%, to 22.31, with a high of 23.00, on 4.3 million shares traded. I like the look of this stock. The long-term chart looks great. Now, we’re looking for a test of the 24 range, and then 28-29.

Penn National Gaming, Inc. (PENN) is looking awesome, with a V-bottom, falling wedge, coil, and a breakout on Wednesday of 2.70, or 17%, to 18.61, not far of the session high at 18.74, on 12.2 million shares traded, and another 1.09 in after-hours. I think a fifth wave is underway, which may last until it gets into the low 20’s.

SM Energy Company (SM) broke out of a base on Wednesday, ramping 1.41, or 75%, to 3.30, with a session high of 3.76, on 43 million shares traded, and then an additional 22 cents in after-hours. That is big volume for this stock. If it gets through Wednesday’s high, look for a move to 5-5 1/2, and maybe even 6 3/4.

AgEagle Aerial Systems, Inc. (UAVS) exploded 1.42, or 160% on Wednesday, to 2.30, after reaching a session and all-time high of 2.69, on a huge volume of 91 million shares traded and another 20 cents in after-hours. If there is any follow-through, you might see this stock at 3-3 3/4-4 as early as Thursday.

Stocks on the long side included Alcoa Corporation (AA), AMC Entertainment Holdings, Inc. (AMC), Amarin Corporation (AMRN), Apache Corporation (APA), AVEO Pharmaceuticals, Inc. (AVEO), Capricor Therapeutics, Inc. (CAPR), Carnival Corporation (CCL), The Chefs' Warehouse, Inc. (CHEF), Constellium SE (CSTM), Delta Air Lines, Inc. (DAL), Diebold Nixdorf, Incorporated (DBD), Brinker International, Inc. (EAT), Eldorado Resorts, Inc. (ERI), GenMark Diagnostics, Inc. (GNMK), Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares (GUSH), Immunomedics, Inc. (IMMU), InMode Ltd. (INMD), Liberty Oilfield Services Inc. (LBRT), Lattice Semiconductor Corporation (LSCC), MEI Pharma, Inc. (MEIP), Mallinckrodt plc (MNK), Matador Resources Company (MTDR), Murphy Oil Corporation (MUR), Norwegian Cruise Line Holdings Ltd. (NCLH), NGL Energy Partners LP (NGL), Occidental Petroleum Corporation (OXY), Penn National Gaming, Inc. (PENN), Royal Caribbean Cruises Ltd. (RCL), Red Robin Gourmet Burgers, Inc. (RRGB), SM Energy Company (SM), Targa Resources Corp. (TRGP), AgEagle Aerial Systems, Inc. (UAVS), U.S. Concrete, Inc. (USCR), and Valero Energy Corporation (VLO).




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