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BA, RUN, AAXN, IIN — Stock Charts to Watch

Charts of the Day video for Tuesday October 2nd, 2018


The Boeing Company (BA), which I featured as a breakout on Monday, and on Tuesday it had a nice follow-through, jumping 4.08, or 1.07%, to 326.37, on 4.2 million shares. I believe this stock is headed to 450.00, and the secondary target is 455.00.

Sunrun Inc. (RUN), a solar stock, came to the forefront on Tuesday, and several of the junior solar stocks as well. It popped out of the 3-month coil pattern above the 50, running 1.30, or 11%, to 13.54, on 2.6 million shares. Look for a test of 14.40 as early as Wednesday, and if it gets through that 14 1/2-15 is the next target.

Stocks on the Short Side….

Axon Enterprise, Inc. (AAXN) continues to be a short. We originally gave you this rising wedge that looks to me like a bear flag, at one point. After breaking the channel on heavy volume, it rallied up on low volume, got to the moving average resistance, which led me to believe it was going to short. It retested the high up around the 75 range, and then it broke down, bounced, and on Monday it came down again, dropping 2.61, or 3.9%, to 64.23, on 413,963 shares traded. If AAXN gets to 63.00, I’m pretty convinced it’s going to fall rapidly, down to at least 56-57, and then maybe 50-51.

IntriCon Corporation (IIN) was down 12 cents, to 53.63, on 258,425 shares traded on Tuesday, and is on the precipice of a big drop. Moving averages are crossing over and rolling over. A left shoulder-head-right shoulder pattern is on the neckline. To break, we are going to see 46, 37, and all the way down to 31-32 potentially. The short-term target is 45.

Stocks on the long side included Achillion Pharmaceuticals, Inc. (ACHN), The Boeing Company (BA), Cellectar Biosciences, Inc. (CLRB), India Globalization Capital, Inc. (IGC), Inovio Pharmaceuticals, Inc. (INO), Kirkland Lake Gold Ltd. (KL), Kandi Technologies Group, Inc. (KNDI), Lattice Semiconductor Corporation (LSCC), Oragenics, Inc. (OGEN), Pyxus International, Inc. (PYX), Sunrun Inc. (RUN), Vivint Solar, Inc. (VSLR), and SunPower Corporation (SPWR).

On the short side, stocks included Axon Enterprise, Inc. (AAXN), Autohome Inc. (ATHM), AxoGen, Inc. (AXGN), Copart, Inc. (CPRT), CRISPR Therapeutics AG (CRSP), Editas Medicine, Inc. (EDIT), IntriCon Corporation (IIN), New Relic, Inc. (NEWR), Nutanix, Inc. (NTNX), Nevro Corp. (NVRO), PetMed Express, Inc. (PETS), Red Hat, Inc. (RHT), Tenet Healthcare Corporation (THC), Tailored Brands, Inc. (TLRD), LendingTree, Inc. (TREE), and TechTarget, Inc. (TTGT).

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