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AUDC, CVNA, ETSY, JNCE, PGNX, TLRA — Stock Charts to Watch

Charts of the Day video for Tuesday April 2nd, 2019


It was kind of a mixed market on Tuesday. A lot of stocks we follow did well and a lot of new ones came to the forefront. For now, let’s begin by taking a look at one of our old favorites.

AudioCodes Ltd. (AUDC), which we were all over last July when it was trading in the 7-8 range, has made it all the way up to 15, or more than doubled. You can see the stair-step it’s had, recently consolidating in a coiling-like pattern. It had a big breakout on Tuesday, jumping 1.44, or 10.11%, to 15.69, on 688,237 shares traded. That’s the best volume for this stock in a long time. I think that if this stock will make it up to 17, it may extend it all the way up to 21 at some point.

Carvana Co. (CVNA), after consolidating for three weeks, we’re following a huge run that took it from 30 to 60. On Tuesday, it was up another 3.88, or 6.58%, to 62.82, on 2.8 million shares. For me, the target has to be a retest of the old highs around 71-72.

Etsy, Inc. (ETSY) popped out of a wedge on Tuesday, and although not a big one, still, it was up 1.57, or 2.3%, to 69.73, on 3.55 million shares. The volume picked up. It looks like it’s going to extend to the recent highs at 73.35. If it gets through that, we’re looking at 83-85.

Jounce Therapeutics, Inc. (JNCE), after inversing in a head-and-shoulder’s pattern, it formed a flag, and on Tuesday it popped out of the flag, gaining 37 cents or 5.82%, to 6.73, on 418,803 shares traded. All it needs to do now is take out 7.35, and it will be headed to the 8 1/2-9 zone going forward.

Progenics Pharmaceuticals, Inc. (PGNX), which I put a swing on Tuesday because I believed it was going break out, and it did, but it backed off. A pullback is sometimes a buying opportunity. We’ll see. It closed up just 13 cents, or 2.72%, to 4.91, on 1.88 million shares. We need to get a follow-through on this one. There’s some resistance at 5.40, but I’m looking for a swing to 6 1/2.

Tilray, Inc. (TLRY), one of swing trades, is doing great. After the pop and pullback, a wedge formed. It broke out, pulled back and tested, formed a flag, and then broke out again on Tuesday, on a nice 72-cent pop, or 1.14%, to 63.83, on 1.3 million shares. I think this stock will get to 7 1/2 quickly, and then it may make it up to 8 1/2-9.

Stocks on the long side included AudioCodes Ltd. (AUDC), CRISPR Therapeutics AG (CRSP), Curaleaf Hldgs Inc. (CURLF), Charlotte's Web Holdings, Inc. (CWBHF), Adaptimmune Therapeutics plc (ADAP), Etsy, Inc. (ETSY), Bitcoin Investment Trust (GBTC), iCAD, Inc. (ICAD), Intelligent Systems Corporation (INS), Jounce Therapeutics, Inc. (JNCE), Progenics Pharmaceuticals, Inc. (PGNX), Riot Blockchain, Inc. (RIOT), Sangamo Therapeutics, Inc. (SGMO), Soliton, Inc. (SOLY), UP Fintech Holding Limited (TIGR), Tilray, Inc. (TLRY), VelocityShares 3x Lng Crude Oil ETN New (UWT), Viking Therapeutics, Inc. (VKTX), Voyager Therapeutics, Inc. (VYGR), and Zynerba Pharmaceuticals, Inc. (ZYNE).




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