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ATOM, LK, MX, OSTK, PIRS, WKHS — Stock Charts to Watch

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


Atomera Incorporated (ATOM) had been falling for months, broke out, formed a wedge, popped, formed a falling wedge, and then popped out of that. It looks like wave five has formed, and it’s working on wave three of the next upmove, advancing 26 cents, or 5.04%, to 5.42, on 187,774. That’s a good increase in volume. It should reach 6.40-50, and if there is any pullback in that zone, it could get up to 7 1/2-3/4, which is the intermediate target.

Luckin Coffee Inc. (LK), a recent IPO that I put a swing on, popped out, pulled back for a couple days, and then took off, going from about 19 1/2 to Monday’s high at 27.12, having jumped 1.66, or 6.66%, to 26.58, on 8.7 million shares traded. I raised my targets on Monday to 29 and 32. Let’s see if it can get the momentum to get there.

MagnaChip Semiconductor Corporation (MX), which I put a swing trade on, came out of a wedge, coiled for a couple days, popped, pulled back, and then on Monday, it popped to resistance, running 31 cents, or 3%, to 10.83, on 544,274 shares traded. If it gets through resistance, we’ll looking at 13, 14 1/2, and 16 going forward.

Overstock.com, Inc. (OSTK) popped and the swing trade continues after a nice move up, consolidation held the channel bottom line and it reversed. It’s been up every day for about the last six sessions. On Monday it was breaking out across key resistance and jumped a nice 2.03, or 10%, to 22.08, on 8.7 million shares to a high of 8.7 million shares. My swing target is around 23 1/2. That should be hit as early as Tuesday. If it accelerates, the target is 27.

Pieris Pharmaceuticals, Inc. (PIRS) had a nice pop on Monday, gaining 58 cents, or 12.2%, to 5.33, on 5.3 million shares, reaching to a 6.04 high. It did pull back from the top. Target is 6 3/4-7, and up toward the 9-dollar, maybe 9 1/2 range potentially.

Workhorse Group Inc. (WKHS) swing trade is really continuing nicely up the channel, gaining another 20 cents, or 5%, to 4.21, on 3 million shares, with a high of 4.31, on Monday. I’m looking for it to run up to 5.90, maybe higher down the road.

Stocks on the long side included Atomera Incorporated (ATOM), Genomic Health, Inc. (GHDX), GrubHub Inc. (GRUB), Iridium Communications Inc. (IRDM), Luckin Coffee Inc. (LK), Medpace Holdings, Inc. (MEDP), MagnaChip Semiconductor Corporation (MX), NovoCure Limited (NVCR), Orion Energy Systems, Inc (OESX), Overstock.com, Inc. (OSTK), Pieris Pharmaceuticals, Inc. (PIRS), Tower Semiconductor Ltd. (TSEM), Twist Bioscience Corporation (TWST), Vector Group Ltd. (VGR), and Workhorse Group Inc. (WKHS).




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