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BBBY, GLNG, NVCR, RYAM, SPWH — Stock Charts to Watch

Charts of the Day video for Thursday October 10th, 2019


Bed Bath & Beyond Inc. (BBBY), a new swing for us, made an announcement on Thursday that they have a new CEO in house. That stock exploded on the news, jumping nearly 52 million shares, up 2.15, or 21.58%, to 12.09, on a breakaway gap. It had been in a downtrend since May, then ran up, platformed, and broke out. I think we’re going to see 14, 16, and 18 going forward.

Golar LNG Limited (GLNG) broke out of a new head-and-shoulder’s type bottom on Thursday, through the 50 day, on 1.15, or 8.74, to 14.31, on 2.2 million shares. That’s the biggest volume in a month. I think that this stock will accelerate, and, perhaps, retest the 15-16 zone. If it gets through there, we’re looking at 18 1/2 as the next target.

NovoCure Limited (NVCR) jumped 2.97, or 4.1%, to 75.49, on 1.1 million shares on Thursday. It has multiple waves up and a beautiful, long-term trend. After getting up to 99, and change, it came down, but in the last sixty days it has held the 72 range three times. I would stop under that, but if you see it get up to 77 1/4, then, I think, it might make a quick run to 83, 92 and 99

Rayonier Advanced Materials Inc. (RYAM) has a long-term decline, which has gone from 23 down to 2, and change, then formed a V bottom with a pop above the moving averages. It pulled back to test the moving averages, crossed over, and then, on Thursday, it popped 35 cents, or 8.47%, to 4.48, on 793,601 shares traded. There’s a double-top resistance around 5.00, If it gets through that, we’re looking at 6.00, and at least 7.00 for this one going forward.

Sportsman's Warehouse Holdings, Inc. (SPWH) formed a double bottom in June and Sept, broke out, retested the moving average, popped to resistance, pulled back slightly, consolidated, and then exploded for a couple days. On Thursday, it gained 56 cents, or 9.67%, to 6.30, on 2.5 million shares, or 6 time the usual volume. With the February high up around 7.00, I think it’s going to test that short-term and it might run into the 7 1/2-8 zone going forward..

Stocks on the long side included Asure Software, Inc. (ASUR), Bed Bath & Beyond Inc. (BBBY), Francesca's Holdings Corporation (FRAN), Golar LNG Limited (GLNG), NovoCure Limited (NVCR), Rite Aid Corporation (RAD), Rayonier Advanced Materials Inc. (RYAM), Soliton, Inc. (SOLY), Sportsman's Warehouse Holdings, Inc. (SPWH), T2 Biosystems, Inc. (TTOO), and TherapeuticsMD, Inc. (TXMD).




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