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APA, CALA, CCL, SSL, W, XPO — Stock Charts to Watch

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


Apache Corporation (APA) has been up for four days in a row and took out Tuesday’s rally high with a move up of 65 cents, or 11%, to 6.52, and a session high of 7.24, on 38 million shares traded. It still needs to back and fill, but I’m looking for this stock to get to 8 3/4.

Calithera Biosciences, Inc. (CALA) is looking really good as it’s back to the 50-day moving averages. After dropping all the way down to 3.00, on Tuesday it popped 1.00, or 21%, to 5.74, with a session high of 5.80, on 1.2 million shares traded. The pop was significant and closed at the upper end of the range. I’m thinking it might extend to 6 1/2-3/4, which is my next target.

Carnival Corporation (Carnival Corporation (CCL) is coming off a retest of the lows for two days in a row, going from 7.80 to a Tuesday-morning session high of 12.97. It popped 1.09 or 11%, to 11.30, on 185 million shares traded, and an additional 12 cents to 11.42 in after-hours. This was another great trade. I think there’s room to extend, but we’ll have to see what the market does on Wednesday. If it does extend, 14 3/4 is the next target.

Sasol Limited (SSL) junior oil stock broke out with a pop of 1.50, or 59%, to 4.04, with a session high of 4.89, on 17.7 million shares traded. This is a huge move for this stock. There’s a big gap at resistance as high as 75, which is the next target going forward.

Wayfair Inc. (W) has been a monster since we put a swing on it, going from the mid 40’s all the way up near 80. On Tuesday, it jumped 5.97, or 8.35%, to 77.47, with a session high of 79.79, on 8.3 million shares traded. Any pullback that backs and fills the 65 to 74 area, could see this stock run to 100-105.

XPO Logistics, Inc. (XPO), one of my favorites in that group, exploded 5.86, or 12%, to 56.09, with a session high of 60.97, on 2.85 million shares traded on Tuesday and got up to resistance before backing off. Resistance zone is 61 1/2 to 64. Should it get through that, 69 is the next target.

Stocks on the long side included Apache Corporation (APA), Calithera Biosciences, Inc. (CALA), Catasys, Inc. (CATS), Carnival Corporation (CCL), Coty Inc. (COTY), Darden Restaurants, Inc. (DRI), Equillium, Inc. (EQ), Eldorado Resorts, Inc. (ERI), Livongo Health, Inc. (LVGO), MGM Resorts International (MGM), Mallinckrodt plc (MNK), Penn National Gaming, Inc. (PENN), Red Robin Gourmet Burgers, Inc. (RRGB), Sasol Limited (SSL), VelocityShares 3x Long Natural Gas ETN Linked to the S&P GSCI Natural Gas Index ER (UGAZ), Wayfair Inc. (W), XPO Logistics, Inc. (XPO), and Zillow Group, Inc. (ZG).




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