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ATTU, CDLX, MERC, OSIR, SGMS, THO — Stock Charts to Watch

Charts of the Day video for Wednesday January 16th, 2019

ATTU, CDLX, MERC, OSIR, SGMS, THO

It was a little bit of a disappointing close on Wall Street on Wednesday, although blue chips were up, Nasdaq had a tough session. It’s overbought and needs to come down and relax and consolidate or whatever. A lot of the stocks we watch are doing fantastically, so let’s take a look at the stock picks we have here and see how they are doing.

Attunity Ltd. (ATTU) is doing great and is one of our top picks for the year. It’s right up against a triple top from November. On Wednesday it was up another 1.48, or 7%, to 23.39, on 704,180 shares traded. That’s good volume for that stock, and the OBV is making new highs ahead of price. Very positive divergence. It looks to me like this stock is headed to 28, and then 33.

Cardlytics, Inc. (CDLX) is interesting. I love the surge, but it is very overbought on a short-term basis. It has been down only one day in the last three weeks, going from 9.80 to 19.07, and popping 1.81, or 11%, to 18.18, on 574,799 shares traded on Wednesday. With resistance up in that zone it could move up further before it pulls back and consolidates. I’m looking for a fibonacci retrace somewhere in the 16-17 range to move to the 21, and then 25 zones.

Mercer International Inc. (MERC) had a big day on Wednesday, also with a breakaway gap. It was a great day trade, closing up 2.22, or 19%, to 13.05, on 3.1 million shares. The very-sharply declining channel was broken a week ago, and it just kept moving up. On Wednesday, I believe on earnings, it exploded, and ran up to resistance at the 14 1/4 range. It may back and fill and it may set up for another move up, but massive resistance up around 15 1/2 is my next target. Support is at about the 13 level. It will be interesting to see what it does going forward.

Osiris Therapeutics, Inc. (OSIR) is one of our top picks of the year. You can see why. On Wednesday, it was up another 1.09, or 8%, to 14.59 on 96,416 shares traded. The ascending bull wedge tells me that we go higher. Maybe the 18-19 zone.

Scientific Games Corporation (SGMS) is another beauty of a stock. It has a long-term downtrend, a breakout, nice consolidation near resistance, and on Wednesday it punched above resistance, jumping 1.79, or 8.5%, to 22.78, on 2.5 million shares traded. At this point, there’s secondary resistance in this zone, but I believe it has to have the energy to get to 27, unless it pulls back and consolidates first.

Thor Industries, Inc. (THO), which is in the recreation vehicle sector, is looking much better. It broke its declining topsline a couple days ago, stalled, and then resumed the advance with a move up 2.45, or 4%, to 64.19, on 1.5 million shares. Resistance is around 65 and the next target is 70.

Stocks on the long side included ArQule, Inc. (ARQL), Attunity Ltd. (ATTU), Axsome Therapeutics, Inc. (AXSM), Bank of America Corporation (BAC), The Goldman Sachs Group, Inc. (GS), Cardlytics, Inc. (CDLX), Daqo New Energy Corp. (DQ), Mercer International Inc. (MERC), Nutanix, Inc. (NTNX), Osiris Therapeutics, Inc. (OSIR), Roku, Inc. (ROKU), Scientific Games Corporation (SGMS), Thor Industries, Inc. (THO), and Winnebago Industries, Inc. (WGO).




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