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BBBY, IMGN, INMD, KLXE, MCF, PCG, REGI — Stock Charts to Watch

Charts of the Day video for Tuesday December 17th, 2019


Bed Bath & Beyond Inc. (BBBY) exploded on Tuesday, jumping 1.70, or 11%, to 16.88, with a high of 17.15, and trading a hefty 14.1 million shares, the biggest volume in two months. This swing trade continues to act well. After pulling back to test the 50-day and the trendline late Nov, it exploded off of it, backed off to resistance, broke through, consolidated, and then exploded on Tuesday. That was a nice move. It looks like it’s headed higher. Mid-channel target is 18 1/2-19, secondary target is 21-22.

ImmunoGen, Inc. (IMGN) exploded the last two days, coming out of a falling wedge, popping 73 cents, or 19%, to 4.62, with a high of 4.72, on a heavy 14.4 million shares traded. It was a nice breakout day. Now, I’m looking for a move that takes it up to 6.00, and see if it goes beyond that.

InMode Ltd. (INMD), which I issued a new swing on Tuesday, gained 1.38, or 3.3%, to 43.20, with a high of 44.49, on a solid 2 million shares. I’m a believe that wave five is about to start. I need a follow-through though. If it will punch up through 44.49 and take it up three or four points, then mid-term we’re looking at the 57-59 zone. Long-term it may potentially reach low to mid 70’s, maybe even high 80’s eventually.

KLX Energy Services Holdings, Inc. (KLXE) recently dropped from the mid-20’s down to 4.00, had an accelerated climax, a breakaway spike-up, broke out through resistance, followed-through, formed a coil, and on Tuesday, it popped 34 cents, or 5.24%, to 6.73, reaching a high of 6.94, on 492,422 shares traded. I think it’s coming out of this coil, and about to go to the 7 1/2-3/4 zone. Stay tuned.

Contango Oil & Gas Company (MCF), another junior oil stock, exploded on Tuesday for 53 cents, or 17%, to 3.63, with a high of 3.63, on 528,038 shares traded, and took out resistance. Now, I’m looking for a test of 4.05, followed by about 4.50. Those are my targets.

PG&E Corporation (PCG) snapped back beautifully on Tuesday, after taking the big dip on Monday, and ran up 1.24, or 13%, to 10.91, with a high of 11.13, on 33 million shares. It formed a nice reversal bar. I’m now looking for a retest of 12, and if it gets some energy, then 13, 14, and 15.

Renewable Energy Group, Inc. (REGI) has absolutely gone bonkers the last two days, going from 17 3/4 to 28 1/2, more than 10 points in just two days. Tuesday, it was up 5.32 of those 10 points, or 27%, to 25.08, reaching a high of 28.44, on 5.2 million shares. It formed a massive breakaway gap. Now, you can see why I gave you a swing on this one. It’s a beautiful chart, and it did make it to my target on Tuesday at the 28-9 zone. The next target is 32-33, if it has momentum, which I think it does.

Stocks on the long side included Acasti Pharma Inc. (ACST), Ardelyx, Inc. (ARDX), Arlo Technologies, Inc. (ARLO), Alphatec Holdings, Inc. (ATEC), Aurinia Pharmaceuticals Inc. (AUPH), Bed Bath & Beyond Inc. (BBBY), Big Lots, Inc. (BIG), Coda Octopus Group, Inc. (CODA), InflaRx N.V. (IFRX), ImmunoGen, Inc. (IMGN), InMode Ltd. (INMD), IVERIC bio, Inc. (ISEE), KLX Energy Services Holdings, Inc. (KLXE), Eastman Kodak Company (KODK), Contango Oil & Gas Company (MCF), NantKwest, Inc. (NK), Neoleukin Therapeutics, Inc. (NLTX), Ovid Therapeutics Inc. (OVID), PG&E Corporation (PCG), Provention Bio, Inc. (PRVB), Renewable Energy Group, Inc. (REGI), comScore, Inc. (SCOR), TravelCenters of America LLC (TA), Workhorse Group Inc. (WKHS), and Zogenix, Inc. (ZGNX).




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