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AXSM, MAXR, MX, TLRY, WGO, ZYNE — Stock Charts to Watch

Charts of the Day video for Wednesday June 19th, 2019

It was a pretty good day on Wall Street on Wednesday and a great trading session. There are a lot of stocks to discuss here, including swing trades from recent weeks, which I usually discuss on Wednesday evenings. So, let’s get after it.

Axsome Therapeutics, Inc. (AXSM) is a swing trade from back in Jan. It exploded, pulled back, and I gave you a buy on it around 6.85. Now, it’s in the mid 20’s, a 300% gain since Jan, and it’s still going. On Wednesday, it was up 53 cents, or 2.19%, to 24.78, on 1.2 million shares. My current target is around the 33-34 zone and support around 19 1/2.

Maxar Technologies Inc. (MAXR), also a swing trade, formed a beautiful inverse head-and-shoulder-type base pattern. It pulled back and then broke right back out again four days in a row, and on Wednesday, it popped 28 cents, or 4%, to 7.37, on 1.75 million shares. I’m looking for 8 3/4, 101/2, and then, eventually, on a mid-term basis, 14 and 15.

MagnaChip Semiconductor Corporation (MX), another swing trade, jumped 32 cents, or 3%, to 10.63, on 453,781 shares traded on Wednesday. After popping I put a swing trade on it. There’s consolidation near resistance up around 10 1/2-3/4. Wednesday’s high at 10.87 was a slight breakout. I’m looking for momentum to take it up to 11 3/4, 13, and potentially 15 at one point.

Tilray, Inc. (TLRY), one of my favorite cannabis stocks, made a significant move, I think, on Wednesday, jumping 4.42, or 11%, to 45.47, on 2.6 million shares. It has a major, one-year-long declining topsline, and any move through here, this stock could really start to move. There’s some resistance at 50, but my target is at 53 1/2 and 63, at some point.

Winnebago Industries, Inc. (WGO) was up another 1.43, or 3.7%, to 40.00, on 2.4 million shares. That’s the biggest volume since Dec. On a breakout day that’s significant. Its technicals look like it could move into the high 40’s, maybe 45-50 over the next couple weeks.

Zynerba Pharmaceuticals, Inc. (ZYNE), a former swing, still looks good. It exploded, pulled back nicely to the trendline, and then popped and formed a little flag. On Wednesday, it popped above the flag, gaining just 11 cents, to 13.90, on 3.2 million shares, and then closed back down into it. I think this stock is headed to 17, 20, and 23 on a short-term basis.

Stocks on the long side included ABM Industries Incorporated (ABM), Akorn, Inc. (AKRX), Amyris, Inc. (AMRS), Axsome Therapeutics, Inc. (AXSM), Corindus Vascular Robotics, Inc. (CVRS), eHealth, Inc. (EHTH), HUYA Inc. (HUYA), Akerna (KERN), Maxar Technologies Inc. (MAXR), Melinta Therapeutics, Inc. (MLNT), MagnaChip Semiconductor Corporation (MX), Napco Security Technologies, Inc. (NSSC), Pieris Pharmaceuticals, Inc. (PIRS), Qudian Inc. (QD), Revilve Group (RVLV), Tilray, Inc. (TLRY), Uber Technologies, Inc. (UBER), Vericel Corporation (VCEL), Vuzix Corporation (VUZI), Winnebago Industries, Inc. (WGO), United States Steel Corporation (X), Zynex, Inc. (ZYXI).

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