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ASLN, FLGT, LSCC, MNK, RAD, ZYXI — Stock Charts to Watch

Charts of the Day video for Friday January 17th, 2020


ASLAN Pharmaceuticals Limited (ASLN) was recently added as a swing. This stock had a monstrous, explosive move in mid Nov, literally going from 38 cents to 8.18 in about 6-7 days, came down hard, did about a .375 Fibonacci retracement, and has been consolidating in a nice, little flag pattern. Note that it had a 2-day pop a week ago, then a 2-day pullback, on very low volume. On Thursday, it popped again 35 cents, or 14%, to 2.80, just pennies off its 2.83 high, on 711,523 shares traded. The gut feel here is that ASLN needs to take out 2.87, and then it will run to 4, and 5 next, but not much more than that. Keep an eye on the swing trade. There is potential for this stock. Note how it has held the 50-day moving average for about a month and a half.

Fulgent Genetics, Inc. (FLGT) had a nice, little uptrend that is coming towards the declining topsline at the apex of a large coil above the trendline. On Thursday, it was up 26 cents, or 1.85%, to 14.31, on 481,300 shares traded. I think that if it breaks out of this pattern, it will move to the 18-19 zone, and then maybe the 24-25 zone.

Lattice Semiconductor Corporation (LSCC) broke out of a 4-month consolidation and is in a big rising channel. It popped, we gave you a swing on it, it advanced three or four days, and backed off. On Thursday, it had a positive inside day after taking the hit on Wednesday, and still gained 43 cents, or 3%, to 21.28, after reaching a high of 21.44, on 11 million shares. Support is 20-20 1/4, and if it can get through 22.40, I’m looking for a move to 26-27

Mallinckrodt Public Limited Company (MNK) exploded as well. I gave you a buy on it, I think on Wednesday, it followed through on Thursday to the initial resistance at Thursday’s high at 5.75, gaining 75 cents, or 16.7%, to 5.24, on 29.4 million shares. The next target is 7.00. It looks like it has momentum and big volume as well.

Rite Aid Corporation (RAD) was a great swing when it broke out in Dec, ran up sharply, reversed, came down hard, which I suspected, but then the falling wedge broke out and we put a swing back on it. On Thursday, it was up just 7 cents, or 1.33%, to 13.00, but reached a high of 13.75 earlier in the day, on 7.5 million shares. Keep your stops under 11. Targets are 14 1/2 and 17 1/2.

Zynex, Inc. (ZYXI) popped out of a falling wedge recently, and we put a swing on it, and since then, from a very bullish, little, wedgy-like consolidation, on much lower volume, tells me it will go higher. On Thursday, it was up just 21 cents, or 2%, to 10.58, with a high of 10.78, on 196,000 shares traded. The key is that there are four tops in that area, and if it can take out 11-11 1/2, then we should see 13.

This list of swing trades included ASLAN Pharmaceuticals Limited (ASLN), Covetrus, Inc. (CVET), 3D Systems Corporation (DDD), Dynatrace Holdings (DT), Fulgent Genetics, Inc. (FLGT), Harmonic Inc. (HLIT), iQIYI, Inc. (IQ), Lattice Semiconductor Corporation (LSCC), Mallinckrodt Public Limited Company (MNK), Nektar Therapeutics (NKTR), Nuance Communications, Inc. (NUAN), O-I Glass, Inc. (OI), PolarityTE, Inc. (PTE), Rite Aid Corporation (RAD), Sonos, Inc. (SONO), Verona Pharma (VRNA), Xenon Pharmaceuticals Inc. (XENE), XPEL, Inc. (XPEL), and Zynex, Inc. (ZYXI).




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