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CRC, CLF, TLRY, VKTX — Stock Charts to Watch

Charts of the Day video for Tuesday September 18th, 2018

CRC, CLF, TLRY, VKTX

California Resources Corporation (CRC), my favorite stock in the marijuana group, had a nice day on Tuesday, jumping 3.01, or 8%, to 39.81, on 1.9 million shares. It was up three days in a row after the big reversal bar off the low, and now it’s testing resistance at about 53 1/4, and maybe it will retest at about 56 1/2. If this continues, I think this is going to be a ramp-up stock to 70-80.

Cleveland-Cliffs Inc. (CLF), one of our swing trades, had a beautiful base breakout, a wedge broke, and it’s been ramping up ever since. Tuesday was another gain of 45 cents, or 3.83%, to 12.20, on 15 million shares. It’s just really starting to ramp, I think. Looking the angle of ascent, this is a 14-15-dollar stock.

Tilray, Inc. (TLRY) exploded 34.79, or 29%, to 154.98, on 19 million shares on Tuesday. This stock has a tight up-channel. As I indicated to you on Monday, if it reaches the top of the channel it might see 165.00. Well, guess where it was after hours on Tuesday. Right about 170.00. The next target is 174-5.

Viking Therapeutics, Inc. (VKTX) was up 9.07, or 87%, to 19.46, on 51.7 million shares. When this stock broke out a year ago August, it ran up to my target around 8.19 and pulled back, it gapped up and ran, and then formed a coil for three months. A falling wedge ensued, and on Tuesday it ran all the way up to 24.00. What I always look for when I see a gap is whether it will hold the session low, which is 18.00 for TLRY. If it doesn’t, it may drift down to 15 1/2. or so. If it backs and fills it could be a buy for 25 and 28.

Stocks on the long side included Aurora Cannabis Inc. (ACBFF), Bausch Health Companies Inc. (BHC), General Cannabis Corp (CANN), Catasys, Inc. (CATS), Cancanabis Sativa, Inc. (CBDS), Canopy Growth Corporation (CGC), Cleveland-Cliffs Inc. (CLF), California Resources Corporation (CRC), Cronos Group Inc. (CRON), iShares MSCI Brazil ETF USD Acc (CSBR), CV Sciences, Inc. (CVSI), Denali Therapeutics Inc. (DNLI), GW Pharmaceuticals plc (GWPH), HEXO Corp. (HYYDF), New Age Beverages Corporation (NBEV), Minerva Neurosciences, Inc. (NERV), Nutrien Ltd. (NTR), NovoCure Limited (NVCR), Invitae Corporation (NVTA), RADA Electronic Industries Ltd. (RADA), STAAR Surgical Company (STAA), Tilray, Inc. (TLRY), TransEnterix, Inc. (TRXC), Unisys Corporation (UIS), Viking Therapeutics, Inc. (VKTX), Yelp Inc. (YELP), Zafgen, Inc. (ZFGN).




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