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ANF, AQMS, AXSM, BPTH, JILL, ZAYO — Stock Charts to Watch

Charts of the Day video for Wednesday March 6th, 2019


The market continues to stay under pressure. A lot of stocks individually are breaking out and looking good. We had some good trades on Wednesday. I’m going to look at both longs and shorts and give you some ideas in case this market continues to come down. You’ll want to know about those. So here we go.

Abercrombie & Fitch Co. (ANF) broke out of a nice based that formed over a six-month period Wednesday, jumping 4.35, or 20.37%, to 25.70, on 20.6 million shares, having reached a high of 26.50. It had good volume and breakaway gap. I love that. I’m expecting a test of near 30, and then 33. Let’s see if we get that.

Aqua Metals, Inc. (AQMS) continues to push, and on Wednesday, it stuck its head out above the high for May at 4.07, but not by much, and the stalled there. It was up only 7 cents, or 1.75%, to 4.07, on 618,166 shares traded, after running up to a high of 4.29. If it gets through here, targets are 5 1/2 and 8.00. It may do some backing and filling first, but it looks like a good set-up. Look at the OBV and volume on it. It looks great.

Axsome Therapeutics, Inc. (AXSM) may be coming out of a pattern. It closed up 40 cents, or 4.73%, to 8.86, on 1.5 million shares with a high of 9.02. It needs to pop and run. My target is in the 12-13 zone.

Bio-Path Holdings, Inc. (BPTH) had a pre-market pop on Wednesday, formed a little coil or wedge, which is what got me going on this stock, and it ramped up all day, and by noon it was trading over 14, got down as low as 11, ramped right back up to 12.02, up 7.40, or 160%, on 72 million shares, reaching a high of 14.60. Targets are 20, and 25.

J.Jill, Inc. (JILL), a retailer of women’s clothing, broke out of its base and through the declining topsline on Wednesday, snapping back 86 cents, or 14.63%, to 6.74, on 3.2 million shares with a high of 6.88 near the end of the day. It looks like it may be headed for a test of the gap. The gap itself is at about the 7 1/4 level. If it gets about that, you’ll looking at something around 8 1/2.

Zayo Group Holdings, Inc. (ZAYO) is coming out of a base and had a big pop on Wednesday of 3.07, or 12.5%, to 27.48, on 18.8 million shares. That’s the biggest volume I’ve ever seen on ZAYO. Coming out of that pattern tells me this is going higher. There’s some resistance at 28 1/4-1/2 area. Targets are 30, and then 32 1/2.

Stocks on the long side included Abercrombie & Fitch Co. (ANF), Aqua Metals, Inc. (AQMS), Axsome Therapeutics, Inc. (AXSM), Bio-Path Holdings, Inc. (BPTH), GreenSky, Inc. (GSKY), J.Jill, Inc. (JILL), Proteon Therapeutics, Inc. (PRTO), Roku, Inc. (ROKU), Uxin Limited (UXIN), and Zayo Group Holdings, Inc. (ZAYO).

On the short side, stocks included Allakos Inc. (ALLK), Dorman Products, Inc. (DORM), FedEx Corporation (FDX), GrubHub Inc. (GRUB), IntriCon Corporation (IIN), Inogen, Inc. (INGN), MEDNAX, Inc. (MD), Medpace Holdings, Inc. (MEDP), SiteOne Landscape Supply, Inc. (SITE), and TripAdvisor, Inc. (TRIP).




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