Charts of the Day

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AMRS, PTI, REGI, YECO — Stock Charts to Watch

Charts of the Day video for Thursday October 18th, 2018

AMRS, PTI, REGI, YECO

Amyris, Inc. (AMRS) acted impressive all day on Thursday while the market was getting pounded, popping 43 cents, or 6%, to 7.80, on 1.1 million shares. It ran up, coiled all day, and held. On the daily chart there is key support in here. Wednesday’s low at 7.50 and the prior low in the 7.08, 7.10, 7.15 area are key support. It can stop under that. Once it gets above 8.10-8.15, we should see a test of 9 1/4, 10 3/4, and 12. Those are my targets.

Proteostasis Therapeutics, Inc. (PTI) had a great trading day on Thursday, jumping 8.46, or 448%, to 10.35, on 94 million shares. On a two-minute chart you can see that it popped, consolidated, broke out, ran, backed a filled for a couple three hours, and broke out again after hours to reach 11.00. It’s looking really good. A day like that, with such good volume, especially with a close near the high, I would look for momentum to carry it to 14, maybe 18. But it could turn at any moment, so be careful.

Renewable Energy Group, Inc. (REGI) is one of the strongest looking stocks on the board. Looking at the chart, it ran to the top of the channel, then sideways for a month or two, it had a big test right here and is holding the 25-range. That’s my stop. It has been up six days in a row, and on Thursday it ran 1.16, or 4%, on 31.14, on 1.1 million shares. It looks like it’s headed to the mid 30’s.

Yulong Eco-Materials Limited (YECO) exploded for under 2.00 on Wednesday, ran to 13.20, and on Thursday it opened at 12.04, backed off to 8 1/2, and then ripped to a high of 17.87, having jumped 1.55, or 15%, to 11.75, on 8.2 million shares. My target is a max of 24. I don’t know if it will get there, but I wanted to give you a heads up.

Stocks on the long side included Amyris, Inc. (AMRS), VelocityShares 3x Invrs Crude Oil ETNNew (DWT), Direxion Daily S&P Biotech Bear 3X ETF (LABD), New Age Beverages Corporation (NBEV), Proteostasis Therapeutics, Inc. (PTI), Renewable Energy Group, Inc. (REGI), VelocityShares Daily 2x VIX ST ETN (TVIX), ProShares Ultra VIX Short-Term Futures (UVXY), and Yulong Eco-Materials Limited (YECO).

On the short side, stocks included Axon Enterprise, Inc. (AAXN), Adient plc (ADNT), Autohome Inc. (ATHM), Barrett Business Services, Inc. (BBSI), TopBuild Corp. (BLD), Clovis Oncology, Inc. (CLVS), Copart, Inc. (CPRT), Daqo New Energy Corp. (DQ), Editas Medicine, Inc. (EDIT), Installed Building Products, Inc. (IBP), IntriCon Corporation (IIN), Nutanix, Inc. (NTNX), Polaris Industries Inc. (PII), Red Hat, Inc. (RHT), SolarEdge Technologies, Inc. (SEDG), Scientific Games Corporation (SGMS), Trex Company, Inc. (TREX), U.S. Concrete, Inc. (USCR), Vicor Corporation (VICR), and Weight Watchers International, Inc. (WTW).




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