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APA, CCL, PENN, USCR — Stock Charts to Watch

Charts of the Day video for Thursday April 9th, 2020


Apache Corporation (APA) had some really good action. In fact, Cramer was quoted saying that this is the biggest percent gainer in the S&P 500 off the low. It basically went from 3.86 to Thursday’s session high of 10.07, about 150% straight up six days in a row, and gained 62 cents or 8%, to 8.20, on 92 million shares traded and another 40 cents, or 5%, to 8.60 in after-hours. That was monster volume for this stock. I don’t think this is done yet. Targets going forward are 13 1/2-3/4 and 13.90-14.00.

Carnival Corporation (CCL) made a nice move off the low a couple weeks ago, came down, retested the lows, then moved up four days in a row, and on Thursday, it popped 43 cents, or 3 1/2%, to 12.42, with a session high of 13.73, on 144 million shares traded and in after-hours an additional 43 cents, or 3.5%, to 12.85. If it can get through resistance at 14 1/2, the next target should be 18 1/2.

Penn National Gaming, Inc. (PENN) exploded, came down in a falling wedge, moved up in a 5-day rally. On Thursday it jumped 1.02, or 8%, to a session high of 15.08, before pulling back and closing up 13.91 on 13 million shares traded, and in after-hours it was up another 59 cents, or 4%, to 14.50. The prior high was 15.97. Resistance is in the 15-16 zone. If it can get through here, my targets are 18 and 22 going forward.

U.S. Concrete, Inc. (USCR) resumed its advance after a 2-day pullback, popped to resistance, backed off, and on Thursday, it finally pushed through, ramping 1.50, or 8%, to 19.50, after reaching an early session high of 21.06, on 691,121 shares traded, and then in after-hours it moved up 1.00, or 5%, to 20.50. I think it will run up to the 22-23 zone short-term.

Stocks on the long side included Alcoa Corporation (AA), Apache Corporation (APA), Catasys, Inc. (CATS), Carnival Corporation (CCL), Co-Diagnostics, Inc. (CODX), Darden Restaurants, Inc. (DRI), DXC Technology Company (DXC), O-I Glass, Inc. (OI), Penn National Gaming, Inc. (PENN), Teladoc Health, Inc. (TDOC), U.S. Concrete, Inc. (USCR), Valero Energy Corporation (VLO), and Wayfair Inc. (W).




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