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CHGG, DAR, REGI, XLNX — Stock Charts to Watch

Charts of the Day video for Tuesday October 30th, 2018


Chegg, Inc. (CHGG), which has been on my long list for quite some time, had a nice 5-wave drop in an orderly falling wedge. It exploded out of it with a breakaway gap on Tuesday, jumping 3.33, or 14 1/2%, to 26.32, on 6.2 million shares. Immediate resistance coming through on Wednesday is in the 27.35 area. If it gets through that, targets are 29, and then the 29 1/2 zone. There will be heavier resistance there.

Darling Ingredients Inc. (DAR), a new swing we put on Tuesday, gained 72 cents, or 3.63%, to 20.57, on 1.4 million shares. This stock has an interesting long-term chart. It broke out with a thrust, and then was held back a week and a half. Now, we’re looking for a retest of the multi-year high at 20.96. If it gets through that, the targets are around 22-23, and then 26.

Renewable Energy Group, Inc. (REGI) has been a swing trade of ours for a while, and it continues to look great. On Tuesday, it was up another 1.93, or 6 1/2%, to 31.32, on 622,717 shares traded. I would not be surprised to see this stock make it into the high 30’s around 37-38.

Xilinx, Inc. (XLNX), which we put a new swing on Tuesday, exploded for 3.70, or 4.7%, to 82.05, on 5.9 million shares. I’m looking for a move that takes it to 84, and then the low 90’s. It looks very good.

Stocks on the long side included Amkor Technology, Inc. (AMKR), Chegg, Inc. (CHGG), iShares MSCI Brazil ETF USD Acc (CSBR), Darling Ingredients Inc. (DAR), Daxor Corporation (DXR), Health Insurance Innovations, Inc. (HIIQ), Nordstrom, Inc. (JWN), KEMET Corporation (KEM), Myriad Genetics, Inc. (MYGN), ENDRA Life Sciences Inc. (NDRA), NeoGenomics, Inc. (NEO), Renewable Energy Group, Inc. (REGI), trivago N.V. (TRVG), Under Armour, Inc. (UA), Veracyte, Inc. (VCYT), and Xilinx, Inc. (XLNX).

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