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BHC, CIEN, PYX, SEED — Stock Charts to Watch

Charts of the Day video for Monday November 5th, 2018


Bausch Health Companies Inc. (BHC), a swing trade of ours, surged on Monday, gaining 1.40, or 6%, to 25.57, on 7.8 million shares. That’s the biggest volume in about six weeks. It looks to me like it wants to explode through Monday’s high at 26.18 and take out resistance. If it gets through that, my next target is 28 3/4, followed by 32.

Ciena Corporation (CIEN), which I put a swing on, broke out on Monday. I like the looks of this. It was a key day for this stock, jumping 1.62, or 5%, to 33.64, on 6.9 million shares. I don’t know if it will go much higher than that. We’ll keep close taps on it. Resistance is at 35, the secondary target is in the high 30’s.

Pyxus International, Inc. (PYX), along with several other marijuana stocks, recovered. On Monday, it jumped 3.43, or 15%, to 26.42, on 2.2 million shares. It broke the declining channel of the last four weeks. I’m looking for an extension. The near-term target will be about 30, and then 34.

Origin Agritech Limited (SEED), although it’s been choppy for the last two months with its many ups and downs, it finally formed a wedge and popped out of it on Monday, running 53 cents, or 7%, to 7.98, on 109,168 shares traded. Key resistance is in the 9-9 1/2 zone. Beyond that, we’re looking at 11 and 13 1/2.

Stocks on the long side included Acacia Communications, Inc. (ACIA), AngloGold Ashanti Limited (AU), Bausch Health Companies Inc. (BHC), Canopy Growth Corporation (CGC), Ciena Corporation (CIEN), Ceragon Networks Ltd. (CRNT), CV Sciences, Inc. (CVSI), Fred's, Inc. (FRED), Turtle Beach Corporation (HEAR), Kandi Technologies Group, Inc. (KNDI), Eli Lilly and Company (LLY), Pyxus International, Inc. (PYX), Origin Agritech Limited (SEED), Southwestern Energy Company (SWN), Energy Fuels Inc. (UUUU), and Yulong Eco-Materials Limited (YECO).

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