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ANIK, CROX, HOME, BAH, BYND, GIL — Stock Charts to Watch

Charts of the Day video for Tuesday October 1st, 2019


Stocks on the Long Side…

Anika Therapeutics, Inc. (ANIK), which broke out of a consolidation that has taken six weeks to develop. On Tuesday it ran up 2.70, or 5%, to 57.59, on 228,808 shares traded. Also, it needed to test the bottom of the channel when it got down to 51. It bounced smartly in the last five days to retest the highs here at 59. If it gets through 59, targets are 64, 67, and even 75 further down the road. A tremendously strong chart going away. If it breaks out with a breakaway gap, forms a consolidation, the next thing may be underway. We’ll see.

Crocs, Inc. (CROX) also broke out of a wedge on Tuesday and popped 83 cents, or 3%, to 28.59, on 930,030 shares traded. That’s not a lot, but it looks like it’s headed for a retest of the double-top area at 30 1/2-31. If it gets through that, it could run up to mid-to-high 30’s.

At Home Group Inc. (HOME), after basing out and turning around, moving averages crossed over, it formed a rising flag, and popped 20 cents, or 2.08%, to 9.82, on 2.9 million shares. I wanted you to see this one because of the gap. If it should run up to 10 1/2, we could see 13 and 17. It’s a neat little chart. It could explode, or at least accelerate.

Stocks on the Short Side....

Booz Allen Hamilton Holding Corporation (BAH) came down, plunged, and formed a bear wedge on Tuesday, dropping 90 cents, or (-1.27%), to 70.12, on 847,421 shares traded. It looks like it’s on the verge of collapsing, potentially. I have targets at 61, 57, and 51 1/2. It looks like a real juicy short.

Beyond Meat, Inc. (BYND) is still dropping off that spike from the day of the McDonald’s deal and pulled back on low volume. On Tuesday, it lost another 2.20, or (-1.48%), to 146.42, on 1.45 million shares. It might be a flag, or it might roll over, retest the lows and take them out. Watch support at 133. If it takes that out, it’s going down to 123-125, and then 109-110.

Gildan Activewear Inc. (GIL) formed a massive 10-month, head-and-shoulder top, which broke, retested at the neckline, and moved down 62 cents, or (-1.75%), to 34.88, on 579,322 shares traded on Tuesday. This tells me that it may be headed lower. I’m looking for 32 1/2.

Stocks on the long side included Anika Therapeutics, Inc. (ANIK), Crocs, Inc. (CROX), Community Health Systems, Inc. (CYH), VelocityShares 3x Inv Natural Gas ETN (DGAZ), At Home Group Inc. (HOME), Contango Oil & Gas Company (MCF), Sportsman's Warehouse Holdings, Inc. (SPWH), Upland Software, Inc. (UPLD).

On the short side, stocks included Avalara, Inc. (AVLR), Alteryx, Inc. (AYX), Booz Allen Hamilton Holding Corporation (BAH), Beyond Meat, Inc. (BYND), Gildan Activewear Inc. (GIL), and Anaplan, Inc. (PLAN).




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