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AVYA, BBBY, NTNX, NWL, QTNT, SGEN — Stock Charts to Watch

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


We’re going to feature swing trades on the video since I missed doing that on Wednesday.

Avaya Holdings Corp. (AVYA) actually dropped 2 cents on Thursday to 12.14, on 1.15 million shares. After exploding earlier this month, and getting up to resistance, it pulled back and has taken a couple of three weeks. The good news is, the gap around 11 3/4 was tested and, so far, it’s holding. Anything underneath that, and I would be inclined to cover my position, or at least exit. For now, it looks like any kind of sudden volume surge to 12 1/2 could trigger a move back to 14 3/4 and 16 1/2, at the very least.

Bed Bath & Beyond Inc. (BBBY) was up 23 cents, on Thursday, or 1.78%, to 14.32, on 8.3 million shares. It has been steadily running up after the recent pop and pullback, I put a swing on it, it looks like it held the gap at 11 3/4, and moved up on Thursday. There is some resistance just above here, but my targets are 16 and 18 going forward.

Nutanix, Inc. (NTNX) is a swing that I think is steady to roll. It formed an inverse head-and-shoulder and has steadily moved up for two weeks from a low in the 231/2 range to a high on Thursday of 28.73. It popped 41 cents, or 1.47%, to 28.33, on 3.3 million shares. More importantly, it has a gap and may fill it quickly with 31 and 34-5.

Newell Brands Inc. (NWL) is still moving up and steadily in a rising channel. On Thursday, it was down 3 cents to 19.45, on 4.4 million shares, but the pullback in the last couple days is minor. I would like to see it get back over 20, and then 22 and 25 are our targets.

Quotient Limited (QTNT) was down 9 cents, or 1.09%, to 8.16, on 117,749 shares traded on Thursday. This stock popped to resistance and backed off last week. It has to hold the 7.85-.88 range. If it does just enough in here and holds the low volume like it has been doing. I’m looking for a run back up to 9-91/4, and eventually to 11.

Seattle Genetics, Inc. (SGEN) popped 31 cents, to 100.27, with a high of 101.30, on 792,745 shares traded on Thursday. It has been behaving wonderfully. After it popped out and pulled back, I put a buy on it. It moved from the 80-1 range to over 100, reaching two days ago, 102.84. The swing targets have been met. I need it to consolidate for a bit, but I like the way it’s acting. I’m looking for a target of 112 going forward.

Stocks on the long side included Avaya Holdings Corp. (AVYA), Bed Bath & Beyond Inc. (BBBY), Babcock & Wilcox Enterprises, Inc. (BW), Community Health Systems, Inc. (CYH), Endo International plc (ENDP), Eton Pharmaceuticals, Inc. (ETON), Ichor Holdings, Ltd. (ICHR), Nutanix, Inc. (NTNX), Nova Measuring Instruments Ltd. (NVMI), Newell Brands Inc. (NWL), Pinduoduo Inc. (PDD), ProQR Therapeutics N.V. (PRQR), Quotient Limited (QTNT), Renewable Energy Group, Inc. (REGI), Arcadia Biosciences, Inc. (RKDA), Seattle Genetics, Inc. (SGEN), and Zynex, Inc. (ZYXI).




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