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APA, BYND, INMD, PERI, SPNS, SYRS — Stock Charts to Watch

Charts of the Day video for Tuesday January 7th, 2020


Apache Corporation (APA) was up 6.87, or 27%, to 32.51, closing just pennies off the 32.58 high, on 36.5 million shares on Tuesday. That may be the biggest volume ever seen on this stock. It had a major oil discovery of the northeast coast of South America, the biggest gain in nearly 50 years. This stock, which was wedging, exploded and closed at the high end of the range going away. I expect, with that kind of move and that kind of volume, we’ll see a follow-through. My target is 38-39.

Beyond Meat, Inc. (BYND) had a big pop as their major rival, Impossible Foods, not able to be a McDonald’s supplier, dropped out of the race on Tuesday. BYND jumped 9.30, or 12 1/2%, to 83.89, on nearly 12 million shares. It traded an early morning low of 75.03, ran up to the high near my target zone at 85 to 84.88, and pulled back. This might be a breakaway move, so we’ll have to see if there’s a follow-through. Key, short-term resistance is 90. Beyond that we’re looking at 97-98, and then 110-111.

InMode Ltd. (INMD) pullback was more than I wanted to see, but it did reverse on Tuesday, and ran 2.97, or 8.48%, to 38.01, reaching 38.89, on 1.6 million shares. Again, we’ll have to see if there’s a follow-through. If it does, for starters I want to see it take out 40 1/2, and then blow through 45. Those are my near-term targets. It could go much higher with volume.

Perion Network Ltd. (PERI) is trending, surging with volume, and broke out above the Aug high. Now, it’s in a channel, which tells me it might accelerate. On Tuesday, it popped 46 cents, or 6.43%, to 7.76, not far off the high at 7.86, on 758,103 shares traded. Targets going forward are 10 and 12.

Sapiens International Corporation N.V. (SPNS) has been in a beautiful uptrend for over a year, and with the breakout on Tuesday out of a two-month flag, it ran up 1.48, or 6.37%, to 24.73, reaching 24.98, on 111,793 shares traded. I think this stock is going to 27.

Syros Pharmaceuticals, Inc. (SYRS) exploded three weeks ago, pulled back in a coil, and got very tight and very quiet, until Tuesday when it popped 44 cents, or 6.34%, to 7.38, not far off the 7.44 high, on 281,815 shares traded. I think it might be the beginning of a move, with targets of 8 1/2 and then 10-10 1/2.

Stocks on the long side included Apache Corporation (APA), Apellis Pharmaceuticals, Inc. (APLS), Aurinia Pharmaceuticals Inc. (AUPH), Beyond Meat, Inc. (BYND), Covetrus, Inc. (CVET), Bitcoin Investment Trust (GBTC), Himax Technologies, Inc. (HIMX), InMode Ltd. (INMD), Inseego Corp. (INSG), Inphi Corporation (IPHI), Kiniksa Pharmaceuticals, Ltd. (KNSA), Lattice Semiconductor Corporation (LSCC), Micron Technology, Inc. (MU), O-I Glass, Inc. (OI), Perion Network Ltd. (PERI), Purple Innovation, Inc. (PRPL), Sapiens International Corporation N.V. (SPNS), Stage Stores, Inc. (SSI), Syros Pharmaceuticals, Inc. (SYRS), TG Therapeutics, Inc. (TGTX), Weight Watchers International I (WW), and Xenon Pharmaceuticals Inc. (XENE).




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