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AXSM, BBBY, ENDP, BYND, MDB, TWLO — Stock Charts to Watch

Charts of the Day video for Wednesday October 16th, 2019

Axsome Therapeutics, Inc. (AXSM), from way back, ran up beautifully, hit all of our targets, and then came down to a spike low two and a half weeks ago to 13.64. On Wednesday, it nearly doubled that number, having popped 1.00, or 4.85%, to 21.63, with a high of 23.23, on 2 million shares. It’s at resistance, and may back and fill here, but I think this stock can turn it around.

Bed Bath & Beyond Inc. (BBBY) backed off for a couple days and formed a flag pattern on low volume. On Wednesday, it was up 38 cents, or 3.17%, to 12.36, with a high of 12.53, on 7.8 million shares. It looks to me like it can run a little bit. Targets are 14 and 16.

Endo International plc (ENDP), although it’s not a swing, should be a swing. It broke out on Wednesday, advancing 67 cents, or 19.2%, to 4.16, with a high of 4.47, on a whopping 22.2 million shares. If this stock can get up to 4 3/4, I’m going to say we go long on it with targets going forward of 6 3/4, and then 9-9 1/2.

Stocks on the Short Side….

Beyond Meat, Inc. (BYND) finally got a little bounce and jumped 1.87, or 1.53%, to 123.92, with a high of 126.45, on 1.95 million shares. It was down seven days in a row and eleven days out of the past thirteen days. It’s holding support around 120 1/2. On Wednesday, it was up only 1.5%. I’m not excited about this stock and think it’s going to go lower, eventually to 100.

MongoDB, Inc. (MDB) formed a large bear wedge and on Wednesday, it got smacked down for 13.43, or 10%, to 121.47, with a high of 131.94, on 2.5 million shares. It doesn’t look good. I think it’s headed down to 105, and then 93.

Twilio Inc. (TWLO) was down 5.41, or 4.7%, to 109.80, with a high of 112.87, on 4.3 million shares on Wednesday. It’s coming of the declining topsline, lateral price resistance, and the 50-day. If it broke down like it looks to me it did, it might come down, and come down hard, to my target at 95.

Stocks on the long side included Avaya Holdings Corp. (AVYA), Axsome Therapeutics, Inc. (AXSM), Bed Bath & Beyond Inc. (BBBY), Community Health Systems, Inc. (CYH), Endo International plc (ENDP), Newell Brands Inc. (NWL), Avita Medical Limited (RCEL), Renewable Energy Group, Inc. (REGI), Arcadia Biosciences, Inc. (RKDA), Seattle Genetics, Inc. (SGEN), ShockWave Medical, Inc. (SWAV), and Zynex, Inc. (ZYXI).

On the short side, stocks included Avalara, Inc. (AVLR), Beyond Meat, Inc. (BYND), MongoDB, Inc. (MDB), Omnicell, Inc. (OMCL), Anaplan, Inc. (PLAN), The Trade Desk, Inc. (TTD), Twilio Inc. (TWLO), and Booz Allen Hamilton Holding Corporation (BAH).

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