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APPS, BBBY, CRNT, INMD, LCI, NTNX, WGO — Stock Charts to Watch

Charts of the Day video for Wednesday October 23rd, 2019


Digital Turbine, Inc. (APPS) continues to do well. A year ago, it was at 1.12 and recently it reached pre-market at 8, and change, and traded as high as 7.84. That was about two months ago. Since then, it pulled down, popped, made a 3-wave corrective look, formed a wedge, broke out, and popped 19 cents, or 2.8%, to 6.98, with a high of 7.23, on 1.6 million shares on Wednesday on an inside day. I think it’s going to take out resistance, and run to the 8-dollar range. My next target is 9 1/4, and then I’m looking at 11. This stock has a lot of potential, still.

Bed Bath & Beyond Inc. (BBBY) is doing great. On Wednesday it gained 31 cents, or 2.25%, to 14.07, with a high of 14.15, on 8.2 million shares. It popped, pulled back, held the gap, and ran up solidly from 11.70 to 14.15. You can see, it’s right at the top of the channel, but it’s also near lateral price resistance. I think this stock has a shot at pushing it up toward 16, and then 18, which are the targets.

Ceragon Networks Ltd. (CRNT) looks like it popped out on Wednesday with a gain of 18 cents, or 6.19%, to 3.09, reaching a high of 3.18. The multi-month, almost year-long channel, is 5-waves down, and then an inverse head-and-shoulders may have reversed on Wednesday as it popped on 1.2 million shares. I’m going to need it to get through the 3 1/4 range, and then, any move above hear, this stock is going back to 4 and 5, or better, but I’m looking for 4 and 5 for now.

InMode Ltd. (INMD) made explosive moves in the last two sessions when it came across the post-IPO, all-time high 29.24. On Wednesday, it reached as high as 32, my daily target and ran up 99 cents, or 3.32%, to 30.81, on 1.2 million shares. Now I’m looking for a move to extend this stock into the 40-41 range. I’m not kidding!

Lannett Company, Inc. (LCI) jumped 43 cents, or 3.68%, to 12.12, with a high of 12.28, on 1.2 million shares. It had a good trade around the 6 1/4 range, popped and exploded, got up to the target, pulled back, formed a wedge, and looks like it may be trying to break out again. Volume picked up. Watch this resistance on Thursday at 12.45-.50. If it can get through that, the target is 16.

Nutanix, Inc. (NTNX), as you know, has a swing on it. On Wednesday, it bounced 66 cents, or 2.42%, to 27.92, with a high of 28.12, on 3.2 million shares. The recent pullback and has been moving down in a 5-wave decline since the February high. It took it back from 56-7, down into the high teens, then an exploding breakaway gap and pullback gave me an entry opportunity, which I issued. It then went from 22-3 range to 28, pulled back, and is now breaking out again. As a matter of fact, keep a close tab on this one, because any move above 28.85, or so, should get it to 31 and 34.

Winnebago Industries, Inc. (WGO), which I’ve liked since the V-bottom back in Dec/Jan, formed a right-handed-extended-V at about 26-7, and nearly doubled to 49 on Wednesday with a spike-up of 6.50, or 15.21%, to 49.24, with a high of 49.34, on 2.6 million shares. That’s the biggest volume since the reversal day back in Dec. It did break out across the key resistance level and closed solidly in the plus column. I’m looking for at least a follow-through to 52, but more likely 57 to retest the all-time high up at 57.44.

Stocks on the long side included Digital Turbine, Inc. (APPS), Avery Dennison Corporation (AVY), Axovant Gene Therapies Ltd. (AXGT), Bed Bath & Beyond Inc. (BBBY), Big Lots, Inc. (BIG), Ceragon Networks Ltd. (CRNT), InMode Ltd. (INMD), Lannett Company, Inc. (LCI), Lexicon Pharmaceuticals, Inc. (LXRX), Maxar Technologies Inc. (MAXR), Mallinckrodt Public Limited Company (MNK), Nordic American Tankers Limited (NAT), Nutanix, Inc. (NTNX), PDL BioPharma, Inc. (PDLI), SolarEdge Technologies, Inc. (SEDG), Stage Stores, Inc. (SSI), Sunworks, Inc. (SUNW), Teekay Corporation (TK), and Winnebago Industries, Inc. (WGO).




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