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ANIK, AUDC, BYND, DBD, OC, OSTK — Stock Charts to Watch

Charts of the Day video for Thursday July 25th, 2019

ANIK, AUDC, BYND, DBD, OC, OSTK

Anika Therapeutics, Inc. (ANIK) had a major pop on Thursday and exploded 11.78, or 29%, to 52.60, on 1.4 million shares, and reaching as high as 56.22. That was the biggest volume in more than a year. You can see the breakaway gap and run-up and a strong close, which tells me its ready to move. Although there is resistance here, the next target will have to be 61. Then we’re looking at mid to high 60’s.

AudioCodes Ltd. (AUDC) continues to push. You can see it breaking out of the coiling-type pattern, and also the bottom of the channel, moving average and 50-day. There was a breakout day on an inside day on Wednesday, and on Thursday, it was up 69 cents, or 4%, to 18.52, on 447,188 shares traded. I think this stock will go to 21, and then mid 20’s after that.

Beyond Meat, Inc. (BYND) which I showed you last weekend that this coil was developing. I said that if it pops, it may run to test the high and take it out. That high was 202ish. On Wednesday, it was up 19.94, or 10%, to 222.86, with a high of 222.88, on 9.7 million shares. It’s up another 8.61 (3.86%) to 231.47 in after hours. This is a stock that could run on Friday. The angle that I have it run in might be a quick run into that 250 range, which is my near-term target.

Diebold Nixdorf, Incorporated (DBD) after the decline, broke out and killed it, going from the .30’s range to the 2-3-dollar range. Then it exploded Jan, Feb, and March, taking it from the 2-3-dollar range to Thursday’s high at 13.40. On Thursday, it had a breakaway gap and then ran up to 2.88. or 28%, to 13.17, on 5.3 million shares. The first level of resistance is 13.17, and the next level comes in at 16 1/2-3/4, which is the next target for DBD.

Owens Corning (OC) has a beautiful pattern. I love the declining channel, a breakout, a pullback, the base formed, a breakout of two corrective falling wedges, and then the pop-out. I put a swing on it on Wednesday and it followed through on Thursday, popping 96 cents, or 1.64%, to 59.50, on 1.95 million shares. I’m looking for this to make a quick test of the gap at about 64, and then the high 60’s. That’s the big one, but the gap is a huge one in the 70’s. Targets are 63, 68, 70, and 71 going forward.

Overstock.com, Inc. (OSTK) actually did have a breakout that moved up and then backed off. It was up on a fraction on Thursday, only 10 cents, to 19.21, on 6.7 million shares. Volume picked up, though. It may, if it consolidates, shoot out and test resistance at 19.21. If it gets through that, targets are 23, and then 26 1/2.

Stocks on the long side included Achillion Pharmaceuticals, Inc. (ACHN), Anika Therapeutics, Inc. (ANIK), AudioCodes Ltd. (AUDC), Beyond Meat, Inc. (BYND), Constellium SE (CSTM), Diebold Nixdorf, Incorporated (DBD), Digimarc Corporation (DMRC), Fastly, Inc. (FSLY), Knowles Corporation (KN), Kratos Defense & Security Solutions, Inc. (KTOS), Nokia Corporation (NOK), Netgear Inc. (NTGR), NovoCure Limited (NVCR), Owens Corning (OC), Overstock.com, Inc. (OSTK), Raytheon Company (RTN), and SigmaTron International, Inc. (SGMA).




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