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APPS, AU, GOLD, PERI, SONO, SPWR — Stock Charts to Watch

Charts of the Day video for Tuesday August 20th, 2019


Digital Turbine, Inc. (APPS) has made an incredible move over the last nine months, and it’s still moving, gaining 25 cents, or 3.79%, to 6.84, on 2.1 million shares on Tuesday. It moved up toward resistance and is close to the highest close it’s had in a couple year. The bottom line is, if it gets through 6.84, targets are 8, and then 9 plus. We’ll see where it goes from there.

AngloGold Ashanti Limited (AU) is moving nicely as the gold stocks are doing right now. It was up 1.26, or 6.2%, to 21.54, on 3.2 million shares. This stock has a strong chart pattern that shows a long rising channel, and then where some resistance may be. It’s three waves up and may be due for a rest in here. But it is doing well.

Barrick Gold Corporation (GOLD) had the highest close it’s had in two year, jumping 59 cents, or 3.26%, to 18.69, on 14 million shares on Tuesday. So, if this is going to accelerate in here, we’re looking at 21 to test these early 2017 highs.

Perion Network Ltd. (PERI) continues to amaze and has almost met both of my swing targets, having gone from 4 1/4 to 6 3/4 in the last week and a half. On Tuesday it was up 35 cents, or 5.6%, to 6.60, on 1 million shares. It’s pretty overbought, I’d say, and may be due for a pullback. Play the momentum and keep your stops underneath the prior low. Tuesday’s low was 6.29.

Sonos, Inc. (SONO) exploded on Monday, we put a swing on it early, and then it ramped up on Tuesday, popping another 56 cents, or 4.15%, to 14.06, on 3.3 million shares. It’s a beautiful chart, above secondary resistance, and looks like it wants to keep moving. I think it could get to the 15 3/4 area before a pullback. Watch the momentum.

SunPower Corporation (SPWR) looks pretty good. It came out of a three-way corrective move to the bottom of the channel, and bounced 51 cents, or 3.85%, to 13.74, on 2 million shares. It’s ramping back up again to resistance. If it gets through here, I’m looking for 16, 17 1/2, and 20 as my next targets.

Stocks on the long side included Digital Turbine, Inc. (APPS), AngloGold Ashanti Limited (AU), Barrick Gold Corporation (GOLD), the Direxion Daily Jr Gld Mnrs Bull 3X ETF (JNUG), the Direxion Daily Gold Miners Bull 3X ETF (NUGT), Cheetah Mobile Inc. (CMCM), Eidos Therapeutics, Inc. (EIDX), Endo International plc (ENDP), EverQuote, Inc. (EVER), Niu Technologies (NIU), PaySign, Inc. (PAYS), Perion Network Ltd. (PERI), RADA Electronic Industries Ltd. (RADA), the Rubicon Project, Inc. (RUBI), Sonos, Inc. (SONO), SunPower Corporation (SPWR), the VelocityShares 3x Long Silver ETN Linked to the S&P GSCI Silver Index ER (USLV), and 21Vianet Group, Inc. (VNET).




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