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AUDC, CALX, CIEN, CLVS, EHTH, FSLR, ICAD — Stock Charts to Watch

Charts of the Day video for Thursday January 24th, 2019

AUDC, CALX, CIEN, CLVS, EHTH, FSLR, ICAD

AudioCodes Ltd. (AUDC) is at a key overheard resistance level, a triple-top, and with Thursday’s pop of 67 cents, or 5.43%, to 13.02, on 275,722 shares traded, it appears to me that this stock is on the verge of an explosive move, potentially. My targets are a quick 14, and then 17. I’m looking for even longer down the road, so let’s make it 21 longer-term. I’m going to issue a swing trade on this on Friday. That’s how much I like it.

Calix, Inc. (CALX), one of our swing trades, continues to do great, popping 20 cents, or 2%, to 10.75, on 425,380 shares traded. On Thursday it made a nominal new high at 10.82, which is the highest this stock has been since 2014. That’s 4 1/2-year high and it trending beautifully. Although it’s been up seven days in a row, it may get some rust here, but if it does consolidate, it could set up a nice consolidation between 10-10 1/4. That would be a buyer for a move up to 12, and near 14, maybe 13.90.

Ciena Corporation (CIEN) is doing great. Look at this move on Thursday, this stock jumped 1.23, or 3.21%, to 39.39, on 1.9 million shares, and reached a high of 39.54. That’s the highest move for this stock since 2007, a 12-year high. It looks to me like my targets are 41 1/2 and 45. I could be had, we’ll see, good momentum.

Clovis Oncology, Inc. (CLVS) is looking great, gaining 90 cents, or 3.91 to 23.94, on 2.2 million shares on Thursday. I love this chart. Any stock that comes down and gets implosive on big volume, reverses with five steps up, a step back, it’s up four waves up with five underway, or it may be one and two of three of five waves up. At the very least, though, this is a bull flag that, if it takes out the 25 1/2 area, it could see 31-32. This one could really get going. I think I’m am going to put a swing on CLVS.

eHealth, Inc. (EHTH) is like a rocket ship, running up another 3.29 to 6.41, or 54.61, on 3.4 million shares on Thursday, with a high of 55.42. That was huge volume. It’s one of my top picks of the year. Since the end of December, it has gone from 34 to 55. It may be near a peak short-term. It looks like it’s headed to an area, which is going to be overhead resistance. Right now, there is going to be some resistance at 55. The all-time high came in at 63, and change, in 2014, and may very well be the target. Keep stops under Thursday’s low for protection at 50 3/4.

First Solar, Inc. (FSLR) swing has an amazing chart. It had a big down trend, formed a long base, retested, popped out, pulled right back, formed a platform, and on Thursday, it ran 2.06, 4.43%, to 48.60, on 1.9 million shares, reaching a high of 48.86. I think this solar stock is going to lead solar’s higher to 55, and 57.

iCAD, Inc. (ICAD) looks like it’s ripping, with a big pop, pullback, a run-up, and then on Thursday, it popped 53 cents, or 10%, to 5.78, on 679,403 shares traded. I wasn’t kidding when I said it looks like it’s headed to 6 1/2-7, and I think it’s headed there.

Stocks on the long side included AudioCodes Ltd. (AUDC), Calix, Inc. (CALX), CareDx, Inc (CDNA), Ciena Corporation (CIEN) Clovis Oncology, Inc. (CLVS), DocuSign, Inc. (DOCU), eHealth, Inc. (EHTH), Fluent, Inc. (FLNT), Fabrinet (FN), First Solar, Inc. (FSLR), iCAD, Inc. (ICAD), Microbot Medical Inc. (MBOT), MakeMyTrip Limited (MMYT), Overstock.com, Inc. (OSTK), SolarEdge Technologies, Inc. (SEDG), Scientific Games Corporation (SGMS), and Xilinx, Inc. (XLNX).




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