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CLVS, PBYI, X, BYND, TWLO, WWE — Stock Charts to Watch

Charts of the Day video for Monday December 2nd, 2019


Stocks on the Long Side….

Clovis Oncology, Inc. (CLVS) was up 1.50, or 10%, to 16.43, with a high of 17.37, on 40 million shares on Monday. This stock has been a monster. Ten of the last eleven days this stock has been up, and eight days in the row. You can see by the way it has exploded, literally, from under 3 to over 17. That’s a five and a half, almost six-fold increase. In a very short time, we need to be careful. It is extended beyond belief. It may very well get into the 20 zone before it peaks, but at some point, it’s going to get a decent pullback. Again, be careful.

Puma Biotechnology, Inc. (PBYI), a swing trade of ours, was up 1.24, or 13%, to 10.73, with a high of 10.90, on 3.9 million shares on Monday. It’s starting to act great. After popping and pulling back, it has moved up steadily. There was a 2-day pullback on low volume, but the volume picked back up again. I’m looking for a target of 11 1/4, 12 1/2, and eventually 15.

United States Steel Corporation (X) was up 55 cents, or 4.19%, to 13.67, with a high of 13.72, on 12.4 million shares. I think it is about to pop. The platform held after the pullback near the trendline and lateral-price support. On Monday, it had a bit of an inside day, but it was a positive one. If this stock can get through 14, it’s on its way up to 15, 16, and 17. Those are the targets going forward.

Stocks on the Short Side….

Beyond Meat, Inc. (BYND) does not look good, folks. It dropped another 3.69, or 4.45%, to 79.27, on 6 million shares, and formed a big bear flag. It’s four flags down. I really think that before it’s all over, we’re going to see 60, and then 50.

Twilio Inc. (TWLO) was down 5.63, or 5.45%, to 97.65, on 5.2 million shares. It ran right up to the moving average and the declining topsline and rolled over hard on Monday. I think it’s going to retest the lows and maybe make lower lows. Probably down toward 80.

World Wrestling Entertainment, Inc. (WWE), which I gave you as a swing trade a while back, lost 50 cents, to 61.52, on 867,881 shares traded. It has now rolled over and formed another rising bear wedge and is four waves down. The next target is probably 49.

Stocks on the long side included China Automotive Systems, Inc. (CAAS), Can-Fite BioPharma Ltd. (CANF), Clovis Oncology, Inc. (CLVS), Dicerna Pharmaceuticals, Inc. (DRNA), Inseego Corp. (INSG), IVERIC bio, Inc. (ISEE), Jounce Therapeutics, Inc. (JNCE), Akerna (KERN), Maxar Technologies Inc. (MAXR), Myovant Sciences Ltd. (MYOV), ormp, Puma Biotechnology, Inc. (PBYI), PG&E Corporation (PCG), Arcadia Biosciences, Inc. (RKDA), Revance Therapeutics, Inc. (RVNC), SAExploration Holdings, Inc. (SAEX), Sorrento Therapeutics, Inc. (SRNE), and United States Steel Corporation (X).

On the short side, stocks included Altice USA, Inc. (ATUS), Baxter International Inc. (BAX), Beyond Meat, Inc. (BYND), CareDx, Inc (CDNA), Church & Dwight Co., Inc. (CHD), Chipotle Mexican Grill, Inc. (CMG), Elastic N.V. (ESTC), HubSpot, Inc. (HUBS), KAR Auction Services, Inc. (KAR), Stryker Corporation (SYK), Twilio Inc. (TWLO), and World Wrestling Entertainment, Inc. (WWE).




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