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CRON, SPWR, TLRY, TRXC — Stock Charts to Watch

Charts of the Day video for Wednesday September 19th, 2018


Cronos Group Inc. (CRON) made a monster move on Wednesday and backed way off, but if it gets through the double-top it could explode. It literally went from 12, and change, to 13, and change, before backing off and closing up 1.13, or 10%, to 12.69, on 128 million shares. It looks like it’s in a rising channel, although it might back of some more. Let’s see if it stabilizes and moves back up. My target is 17. It’s five-waves up. There’s big volume on the fifth wave, so be careful.

SunPower Corporation (SPWR) popped 40 cents, or 5.3%, to 7.95, on 5 million shares on Wednesday. It had a nice follow-through two days in a row on a big volume and a breakout, but there is some overhead resistance at 8 1/4. The major declining topsline comes in at 8 3/4. If it does get an extension up in that range, look for a pullback consolidation. Wednesday.

Tilray, Inc. (TLRY) is a monster midway up the channel, gong from 24 to 300 in 5 weeks. On Wednesday it was up 59.08, or 38%, to 214.06, on 30 million shares and reversed. It could form a massive bear wedge, which could be dangerous. If it’s down two waves already, three could get it down to 150, maybe even all the way down to the 125 range. On the other hand, if it makes it to 222 on Thursday, it may extend and retest the high up around 300.

TransEnterix, Inc. (TRXC) broke out and I put a swing on it. It popped 31 cents, or 5%, to 6.52, on 12 million shares on Wednesday. It has good momentum and a good angle of ascent. My target is 9.00 and 11 1/2, maybe 12.

Stocks on the long side included Altimmune, Inc. (ALT), AtriCure, Inc. (ATRC), Ceragon Networks Ltd. (CRNT), Cronos Group Inc. (CRON), iShares MSCI Brazil ETF USD Acc (CSBR), Fate Therapeutics, Inc. (FATE), New Age Beverages Corporation (NBEV), Neptune Technologies & Bioressources Inc. (NEPT), NovoCure Limited (NVCR), SunPower Corporation (SPWR), The Green Organic Dutchman Holdings Ltd. (TGODF), trivago N.V. (TRVG), TransEnterix, Inc. (TRXC), Vericel Corporation (VCEL), Veoneer, Inc. (VNE), Inc. (WUBA), Zafgen, Inc. (ZFGN).

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