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AVYA, CYH, MAXR, NTNX, RAD — Stock Charts to Watch

Charts of the Day video for Monday October 7th, 2019


Avaya Holdings Corp. (AVYA), a swing trade of ours, which we put out on Friday, on the first pullback has already popped about 1.50 since then. It’s tempting resistance right now, popping on Monday 86 cents, or 6.5%, to 14.09, on 15 million shares, with a high at 14.37. The first target is 14 1/2. If it can get through here, we could see 16 3/4, and we might see 18 1/2. Those are the targets going forward.

Community Health Systems, Inc. (CYH) popped out of a flag on Monday, reaching as high as 4.12, before backing off and closing up just 5 cents, or 1.31, to 3.88, on 3.9 million shares. That was good volume. I think the target is in the 5.15 to 5.45 zone, which will probably be next.

Maxar Technologies Inc. (MAXR) broke a 3-week downtrend, running 58 cents, or 7.67%, to 8.14, on 2.3 million shares. The volume picked up and it closed at the upper end of the range. The high was 8.20. I’m looking for a test of 8 3/4, and then a run to 10.

Nutanix, Inc. (NTNX) may be coming out of a flag after being up three days in a row. It gained 35 cents, or 1.38%, to 25.63, on 2.1 million shares. We’ll have to see if it gets any kind of a follow-through. I really need it to extend, initially, past 26 3/4. Targets then will be 29 and 34.

Rite Aid Corporation (RAD), on Monday, popped 51 cents, or 6.72%, to 8.10, on 3.2 million shares traded. It looks like it has been developing a nice inverse head-and-shoulders, with a double left shoulder and a double right shoulder. The neckline has to be taken out. The target is 10, and then 11 3/4.

Stocks on the long side included Avaya Holdings Corp. (AVYA), Community Health Systems, Inc. (CYH), Freddie Mac (FMCC), Francesca's Holdings Corporation (FRAN), Frontline Ltd. (FRO), Cesca Therapeutics Inc. (KOOL), Livongo Health, Inc. (LVGO), Maxar Technologies Inc. (MAXR), MagnaChip Semiconductor Corporation (MX), Nutanix, Inc. (NTNX), Natera, Inc. (NTRA), Pfenex Inc. (PFNX), Rite Aid Corporation (RAD), and Signet Jewelers Limited (SIG).




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