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ASUR, BE, CGC, HEXO, IOVA, SWAV — Stock Charts to Watch

Charts of the Day video for Monday April 29th, 2019

ASUR, BE, CGC, HEXO, IOVA, SWAV

Asure Software, Inc. (ASUR), which I gave you a swing on when it broke out early part of April around the 7.16 area thinking it was going to extend, and then it quickly pulled back for about six days. On Monday, it popped 59 cents, or 9%, back up to 7.16, on 302,000 shares traded on a big snapback from what looks like the trendline. If that is, in fact, the trendline, and there’s a 50-day, and it bounced off of that, it’s a good sign that it may want to come back and retest 8 1/2, 9 1/2, 11, and so on. Those may be targets. We’ll just have to wait to see if there is enough volume and energy on the way up.

Bloom Energy Corporation (BE) looked like it was going here back in March and we put a swing on it. On Monday, it popped out and pulled back, retesting or at least widening the base, popping 86 cents, or 7%, to 13.16, on 4 million shares. The was very strong volume on Monday, maybe the strongest ever on an up-day. We’re going to watch this one carefully. My target is 16 1/2-3/4, and if it really starts to move up, we’re looking at 20.

Canopy Growth Corporation (CGC), a marijuana stock and one of my favorites, is doing really well. It had a big day on Monday, jumping 2.12, or 4.25%, to 52.03, on 13 million shares. It looks to me like the volume is ramping, the OBV is ramping, and it’s about to take off, in my opinion. I’m looking for a test of the mid 50’s, and then the high 50’s on a short-term basis.

HEXO Corp. (HEXO), another marijuana stock, has now been up seven of the last eight days, only to have an inside day preventing it from being up every day for the last two weeks. On Monday, it popped 47 cents, or 6.02%, to 8.28, on over 14 million shares. Now, it’s getting to the top of the channel and may get some pullback retest. It’s a beautiful chart on a long-term basis. On an intermediate basis, this may be an 11-dollar stock.

Iovance Biotherapeutics, Inc. (IOVA) had a base-spread breakaway, we put a swing on it, and then it pulled back like several other stocks, tested the 50-day successfully, and then moved back up on Monday, gaining 34 cents, or 3.06%, to 11.44, on just under a million shares traded. We can see that there’s some resistance around 12. If it can get through that, we should be looking at a 14-dollar stock.

ShockWave Medical, Inc. (SWAV) is a great swing trade. We got it when it popped, stalled for a few days, and then it took off, going from 29, and change, to 45.68 in just the last week. On Monday, it closed up 1.30, or 3.14%, to 42.64, on over a million shares. It might have some problems up here, but it has some good momentum.

Stocks on the long side included Asurre Software, Inc. (ASUR), Bloom Energy Corporation (BE), Canopy Growth Corporation (CGC), Changyou.com Limited (CYOU), Fluent, Inc. (FLNT), HEXO Corp. (HEXO), Iovance Biotherapeutics, Inc. (IOVA), La Jolla Pharmaceutical Company (LJPC), Medicine Man Technologies, Inc. (MDCL), Mimecast Limited (MIME), Marinus Pharmaceuticals, Inc. (MRNS), PAR Technology Corporation (PAR), Pinterest, Inc. (PINS), Qudian Inc. (QD), Rocket Pharmaceuticals, Inc. (RCKT), the Rubicon Project, Inc. (RUBI), Sohu.com Limited (SOHU), ShockWave Medical, Inc. (SWAV), Taitron Components Incorporated (TAIT), Voyager Therapeutics, Inc. (VYGR), YETI Holdings, Inc. (YETI), and Zynerba Pharmaceuticals, Inc. (ZYNE).




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