Harry's Charts of the Day videos are available to members on Monday-Thursday evenings, with one video per week available to non-members. Members please login and see Charts of the Day in the "Videos" menu dropdown.
Swing trade Amyris, Inc. (AMRS) broke out on Wednesday, and followed through on Thrusday with a clean breakout above the resistance zone. It was a small gain, up 22 cents, or 3%, to 7.84, on nearly a million shares. The next target is around 9.00, followed by 10 3/4.
uniQure N.V. (QURE) had a nice rebound on Thursday, with a thrust of 2.69, or 8.4%, to 34.65, on 404,252 shares traded. It formed a little extended V. This was a key day for this stock to breakout. It didn’t close above the 50, but it did take out the 10 and 21. Not a lot of volume traded. I’m looking for a retest of 40. When it gets through that, the next target is 47-8.
Stitch Fix, Inc. (SFIX) bounced 1.82, or 6%, to 31.75, on 1.8 million shares on Thursday. It is slowly edging backwards. After breaking out and then pulling back for one day, it resumed the advance. Short-term target is in the 32-32.10 range, and if it gets through that, the targets are 35, and maybe the high 30’s.
Verastem, Inc. (VSTM) broke out on Thursday, popping 88 cents, or 11%, to 8.67, on 7 million shares, and then it backed off. Right at the breakout point, we put a swing on it. I think it’s going to resume the advance, and make a run to the 11-12 zone.
Stocks on the long side included Amyris, Inc. (AMRS), ANGI Homeservices Inc. (ANGI), Alteryx, Inc. (AYX), Canopy Growth Corporation (CGC), PolarityTE, Inc. (COOL), Caesarstone Ltd. (CSTE), CenturyLink, Inc. (CTL), Funko, Inc. (FNKO), Health Insurance Innovations, Inc. (HIIQ), Michael Kors Holdings Limited (KORS), Mallinckrodt Public Limited Company (MNK), Match Group, Inc. (MTCH), Nuance Communications, Inc. (NUAN), Invitae Corporation (NVTA), Overstock.com, Inc. (OSTK), uniQure N.V. (QURE), R1 RCM Inc. (RCM), RF Industries, Ltd. (RFIL), Roku, Inc. (ROKU), SailPoint Technologies Holdings, Inc. (SAIL), Stitch Fix, Inc. (SFIX), Twilio Inc. (TWLO), Verastem, Inc. (VSTM), Xenon Pharmaceuticals Inc. (XENE), and Yelp Inc. (YELP).
1 Free Trial per Person. By signing up you agree to our terms. You will receive access to our Trading Room, plus account-related emails and our e-newsletter containing news, updates & promotions from TheTechTrader.com and our publisher AdviceTrade. You can withdraw your consent at anytime. See our privacy policy.
Days to cover is the amount of short interest divided by the company's average daily share volume. In other words, the number of days required to close out all the short positions. A higher number means more potential fuel to a stock’s rally as shorts cover, and thus accelerate the move, when the stock’s price rises.
On Balance Volume (OBV), developed by Joe Granville, is a running summation of volume on up-days minus volume on down days. OBV rises when volume on up days outpaces volume on down days -- and falls when volume on down days is stronger. A rising OBV reflects positive volume pressure that can lead to higher prices. Conversely, falling OBV reflects negative volume pressure that can foreshadow lower prices.