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CARA, ETSY, IQ, TLRY — Stock Charts to Watch

Charts of the Day video for Thursday September 13th, 2018

CARA, ETSY, IQ, TLRY

Cara Therapeutics, Inc. (CARA), one of our old favorites, needs to ramp up again. You can see the base pattern, the wedge, a breakaway gap, another wedge, a big wedge, a breakout, of late we’ve seen a little bit of a consolidation, and then on Thursday it popped 59 cents, or 3%, to 21.44, on 1.1 million shares. It can probably get up to 24, and then 28.

Etsy, Inc. (ETSY) formed a triple top, and then a semi-wedge if it breaks out. It was up 1.38, or 3%, to 50.55, on 3 million shares on Thursday. This stock could be a 59-60 dollar stock pretty quickly, and a short-term swing as well.

iQIYI, Inc. (IQ) came down in a 3-wave corrective, and then popped 1.70, or 6%, to 30.29, on 20 million shares on wave 4. Wave 5 was truncated, and is right-handed extended. Look for it to get to 32 1/2. If it gets through that, the near-term target is 38.

Tilray, Inc. (TLRY) is an amazing chart. It has gone from the 22-range all the way up to 127 on Thursday, closing up 14.81, or 14%, to 119.76, on 21 million shares. Did it reach the top? I can’t say for sure until it breaks down to 98. That would confirm it. Any move under 98 is a stopping point. If it continues to ramp up, I’m looking for about 150. I don’t believe it’s going there, but remember what they say, “the trend is your friend.”

Stocks on the long side included Boston Scientific Corporation (BSX), Cara Therapeutics, Inc. (CARA), Dicerna Pharmaceuticals, Inc. (DRNA), Etsy, Inc. (ETSY), Everi Holdings Inc. (EVRI), GNC Holdings, Inc. (GNC), iQIYI, Inc. (IQ), Momo Inc. (MOMO), Match Group, Inc. (MTCH), NovoCure Limited (NVCR), Pinduoduo Inc. (PDD), pi, Stitch Fix, Inc. (SFIX), STAAR Surgical Company (STAA), Tilray, Inc. (TLRY), Tandem Diabetes Care, Inc. (TNDM), 58.com Inc. (WUBA), Xencor, Inc. (XNCR), and Zafgen, Inc. (ZFGN).




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