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CREE, GLYC, MARK, USAT — Stock Charts to Watch

Charts of the Day video for Tuesday December 12th, 2017


Cree, Inc. (CREE), one of our swing trades, popped out of a wedge, and jumped 1.59, or 4.6%, to 35.12, on 1.9 million shares traded. What you should be watching for is whether it takes out a double-top at 38.50. If it does, that should lead it to 40, 42, and 44. It has 8.6 days to cover.

GlycoMimetics, Inc. (GLYC) exploded on drug news on big volume on Tuesday, and when it got up to 18 at the top of the channel at the range of resistance, it backed off. It closed up 2.13, or 15%, to 16.45, on 6.6 million shares traded. Let’s see if it backs and fills and extends. If it does, I’m looking for a 19-dollar target, and then maybe 22. The swing target I put on it on Tuesday says 22 and 25.

I am showing it to you Remark Holdings, Inc. (MARK) here because a lot of people have asked me about it. On November 9, this stock went from 3.36, and within two weeks it reached 9.79. So, it tripled and had a nice falling wedge. The falling wedge got quiet near the apex, and popped on volume for two days, reaching a nominal new high on Monday. On Tuesday, it reversed and closed down 1.32, or 13 1/2%, to 8.44, on 2.9 million shares traded. I would like to see it hold Tuesday’s low at 8.44. That would be ideal. If it can do that, and back and fill for a couple days, then maybe it would take off and still go to 11, 13, 16, and even 20 in the next few weeks and months. Key short-term support is 7 1/4, roughly, and if it takes out Tuesday’s 8.35-.40 range, we’ll see if it goes right there.

Swing trade USA Technologies, Inc. (USAT) is really doing well. I think we gave it to you at the 6-dollar range, and now it’s over 9.00. On Tuesday, it was up 55 cents, or 6.4%, to 9.15, reaching a 9.55 high, on 1.66 million shares traded. It’s right at the top of the channel. I think my targets are 10 and 12, but those are close to my swing targets.

On the long side, stocks included General Cannabis Corp. (CANN), Codexis, Inc. (CDXS), Cree, Inc. (CREE), VelocityShares 3x Inv Natural Gas ETN (DGAZ), Digital Power Corporation (DPW), GlycoMimetics, Inc. (GLYC), KMG Chemicals, Inc. (KMG), Remark Holdings, Inc. (MARK), MGT Capital Investments, Inc. (MGTI), Nova Lifestyle, Inc. (NVFY), HIVE Blockchain Technologies Ltd. (PRELF), Proteostasis Therapeutics, Inc. (PTI), Riot Blockchain, Inc. (RIOT), Therapix Biosciences Ltd. (TRPX), USA Technologies, Inc. (USAT), and Valeant Pharmaceuticals International, Inc. (VRX).

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