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AVYA, CMRX, EDAP, FLDM, FLNT, NVTA — Stock Charts to Watch

Charts of the Day video for Tuesday April 9th, 2019


We had a tough day in the market. The market opened sharply lower, rallied back in wedges, rolled over hard, and finished not far off lows for the day. There was a last 15-second snapback on short covering, perhaps.

Avaya Holdings Corp. (AVYA) popped out of a wedge on Monday that it’s been in for a couple weeks and followed through on Tuesday, gaining 74 cents, or 4%, to 18.49, on 58 million shares. It looks to me like it’s headed to the 21 range, maybe 23. Those will be the next targets.

In talking to a couple of my biotech friends, they thought Chimerix, Inc. (CMRX) made a move that was significant for several reasons. But from a technical stand point, it looks to me like it broke out of a base on Tuesday, popping 65 cents, or 31%, to 2.74, on 4.3 million shared. It should be headed to 3.15, 3.85, and 4.25 short-term. Those are my targets this week.

EDAP TMS S.A. (EDAP) made quite a move on Tuesday. I checked my records and I thought I put a swing on this, but apparently did not. You can see why I wanted to put a swing on this one. It formed a breakaway gap, ran up on Tuesday, and popped 38 cents, or 7.90%, to 5.19, on 601,262 shares traded. Now it’s headed for what I think is 6 1/2. If it gets through that, we may see it up in the 8-9 zone. For now, stick with 6 1/2.

Fluidigm Corporation (FLDM) is a stock that I’ve been liking since it broke out of an inverse head-and-shoulders in July 2018. On Tuesday, it was up another 39 cents, or 3%, to 13.54, on 457,64 shares traded. I never did put a swing on it. There’s a flag there, and then another flag. You can run up on it sharply to another flag. It appears one more leg up and we are up at the 17-18-19 zone. That’s my next target.

Fluent, Inc. (FLNT), one of my swing trades, looks great. It continues to mojo up, only one cent, on Tuesday, to 6.13 on 418,917 shares traded. Currently, it’s retesting the highs from a couple weeks ago. My target is in the 7-7 1/2 range.

Invitae Corporation (NVTA) looks juicy in the apex of a sitting bull wedge. On Tuesday, it was up 59 cents, or 2.4%, to 25.16, on 1.7 million shares. If it runs here, I’m looking for 28 and 32 going forward.

Stocks on the long side included Avaya Holdings Corp. (AVYA), Chimerix, Inc. (CMRX), CEL-SCI Corporation (CVM), EDAP TMS S.A. (EDAP), FARO Technologies, Inc. (FARO), Fluidigm Corporation (FLDM), Fluent, Inc. (FLNT), Fuel Tech, Inc. (FTEK), Insmed Incorporated (INSM), Puxin Limited (NEW), Invitae Corporation (NVTA), Okta, Inc. (OKTA), Soliton, Inc. (SOLY), Telaria, Inc. (TLRA), and Tandem Diabetes Care, Inc. (TNDM).




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