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CATS, CGC, EDAP, EOLS, EXTR, SWAV — Stock Charts to Watch

Charts of the Day video for Wednesday April 24th, 2019

The market was mixed to low on Wednesday, but a lot of our stocks were still moving. Let’s take a look at a few of the swing trades that did well.

Catasys, Inc. (CATS), an AI and technology-enabled healthcare company, entered into an agreement with Optima Health and popped on Tuesday, and then finally broke out on Wednesday with a thrust, gaining 1.18, or 8.54%, to 15.00, on 360,213 shares traded, which is twice as much volume as the day before. It looks to me like it’s headed to 18 1/2, and then 25.

Canopy Growth Corporation (CGC) bounced 96 cents, or 2.02%, to 48.37, on 6.3 million shares. CGC looks like it’s on the verge of a pop. It has a breakaway gap, pullback, a pop, and 2-day flag. If it can get over 48 3/4, I think it will take off and run to 55 and 60. Maybe more.

EDAP TMS S.A. (EDAP) had a swing trade put on it, it pulled back, reversed on Tuesday, and followed through on Wednesday, gaining 27 cents, or 5.84%, to 4.89, on 234.571 shares traded. What I am looking for now is to test the area up around the 5.40 zone, and then make a run at 6 1/2. Once it gets through there, it may take it up to 8.00.

Evolus, Inc. (EOLS) popped 50 cents, or 1.83%, to 26.44, on Wednesday, on 532,813, which is low volume for that stock. It pulled back and looks like it may be on the verge of a move. It needs a pop across 28 to get it going, and then take out 30. Once it does that, it’s on its way to at least 34, and then 39.

Extreme Networks, Inc. (EXTR) popped through two month’s resistance out of a mini-base on Wednesday to gain 29 cents, or 3.64%, to 8.26, on 1.9 million shares, the best volume on an up-day in two months. Resistance is at 8 3/4, and when it gets through that, we’re looking at 9 1/2 and 10 1/2.

ShockWave Medical, Inc. (SWAV) snapped back on Wednesday and formed a big engulfing bar, up 3.26, or 10.44%, to 34.50, on 260,914 shares traded. It looks to me like it’s going to test the 37 range and maybe a run up to the low 40’s.

Stocks on the long side included AcelRx Pharmaceuticals, Inc. (ACRX), Amkor Technology, Inc. (AMKR), Catasys, Inc. (CATS), Canopy Growth Corporation (CGC), eBay Inc. (EBAY), EDAP TMS S.A. (EDAP), Evolus, Inc. (EOLS), Extreme Networks, Inc. (EXTR), Manhattan Associates, Inc. (MANH), Pyxus International, Inc. (PYX), QUALCOMM (QCOM), Silicon Laboratories Inc. (SLAB), ShockWave Medical, Inc. (SWAV), trivago N.V. (TRVG), and Village Farms International, Inc. (VFF).

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