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BRKS, FORM, OII, PI, VIPS, VRNS — Stock Charts to Watch

Charts of the Day video for Tuesday April 30th, 2019

BRKS, FORM, OII, PI, VIPS, VRNS

Brooks Automation, Inc. (BRKS) exploded on Tuesday, with a big move of 5.15, or 16%, to 37.51, on 1.8 million shares. It made a strong breakaway move and should at least test the 39 1/2-3/4 area. If it gets through that, you’re looking at a much bigger stock down the road in the low-to-mid 40’s.

FormFactor, Inc. (FORM) has a beautiful, long-term chart, and from the inverse head-and-shoulders in 2013, it moved up steadily from 4.00 to 19.00. You see the recent action on Tuesday, up 56 cents, or 3.05%, to 18.95, on 463,706 shares traded, and I’m looking for it to take it up to 22-23. That’s my target.

Oceaneering International, Inc. (OII) popped 1.89, or 11%, to 19.29, on 1.9 million shares on Tuesday. The next test will be a test of 19.63. It actually ran up to it and backed off. Now, if it gets through that level, we could see at least 22 1/2-23, which is my target.

Impinj, Inc. (PI) had an exceptional day on Tuesday, exploding 7.57, or 35%, to 29.27, on 2.6 million shares. That was big volume and a big breakaway move. This stock has been up all month basically, going from 16 to 29. Looking at the long-term chart, you can see that there’s a big gap to fill. It should fill that, and that target is 33, and then 40, which is the secondary target.

Vipshop Holdings Limited (VIPS) popped 49 cents, or 6.03%, to 8.61, on 12 million shares on Tuesday. It’s holding the trendline and punching right back up to the 8.70 range. There’s resistance here. If it gets through that, I’m looking at 10 and 11 1/2.

Varonis Systems, Inc. (VRNS) had a big pop on Tuesday, jumping 4.33, or 6.58%, to 71.15, on 1.7 million shares. That’s the second biggest volume day in a year. On a breakout move, I like the way this stock steps up, although there is going to be some overhead resistance between 81 and 84.

Stocks on the long side included Amtech Systems, Inc. (ASYS), Bloom Energy Corporation (BE), Brooks Automation, Inc. (BRKS), Canopy Growth Corporation (CGC), CRISPR Therapeutics AG (CRSP), FormFactor, Inc. (FORM), Bitcoin Investment Trust (GBTC), Nabriva Therapeutics plc (NBRV), Oceaneering International, Inc. (OII), Impinj, Inc. (PI), Qudian Inc. (QD), Sanmina Corporation (SANM), Sohu.com Limited (SOHU), Twitter, Inc. (TWTR), Vipshop Holdings Limited (VIPS), Varonis Systems, Inc. (VRNS), Yum China Holdings, Inc. (YUMC), Zymeworks Inc. (ZYME), and Zynerba Pharmaceuticals, Inc. (ZYNE).




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