Charts of the Day

Harry's Charts of the Day videos are available nightly to members. Members please login and see Charts of the Day in the "Videos" menu dropdown.

CSIQ, HUYA, NVAX, OSTK, RKDA, VIPS — Stock Charts to Watch

Charts of the Day video for Thursday August 15th, 2019

CSIQ, HUYA, NVAX, OSTK, RKDA, VIPS

Canadian Solar Inc. (CSIQ) has been basing out, breaking out, retesting, and moving back up again. On Thursday, it jumped 2.48, or 12%, to 23.08, on 4.3 million shares. If this is a rising channel that formed, I’m looking for something in the 29, and then 34 range. I think that once it gets across the spike-high from Feb-Mar, which is about 25.89, it should be able to make that big move.

HUYA Inc. (HUYA) had an outstanding performance on Thursday, popping 1.79, or 8.37%, to 23.18, on a solid 5.1 million shares. You can see that it popped up and broke through the declining topsline and closed above it. That should lead to 25 1/2-3/4, and then 26 short-term. Intermediate target is 29-30.

Novavax, Inc. (NVAX) exploded on Wednesday and had a nice follow-through on Thursday, gaining 58 cents, or 10%, to 6.62, on 3.3 million shares. Resistance is around the 7.15 range. If it gets through here, the short-term target is 7.90. The next target is in the low teens.

Overstock.com, Inc. (OSTK) took a plunge for three days on negative news, but it held the 50-day, and then surged back up 2.49, or 15 1/2%, to 18.46, on 10.6 million shares. That’s really good volume for this stock. I’m thinking that if it gets through 18.46, a new trend may be emerging, which could take it up 24-25, and then 28-30.

Arcadia Biosciences, Inc. (RKDA), which we put a nice swing trade on, and it went from about 5.15 to 9.15 in a day and a half. Really beautiful move. On Thursday alone it was up 1.09, or 15%, to 8.14, on 13 million shares. There is some momentum that could carry it to 10.40, but I think it’s overdue for a pullback.

Vipshop Holdings Limited (VIPS) exploded with a breakaway gap on Thursday, and popped 94 cents, or 15%, to 7.20, on 24 million shares. That’s the biggest volume on an up day since May 2017. If it continues here, the near-term target would be about 8-8 1/4, and then a test of 9.00.

On the long side, stocks included Canadian Solar Inc. (CSIQ), HUYA Inc. (HUYA), InMode Ltd. (INMD), Intelligent Systems Corporation (INS), Novavax, Inc. (NVAX), Overstock.com, Inc. (OSTK), Arcadia Biosciences, Inc. (RKDA), Vipshop Holdings Limited (VIPS), Zymeworks Inc. (ZYME), and Zynex, Inc. (ZYXI).

On the short side, stocks included Biohaven Pharmaceutical Holding Company Ltd. (BHVN), Healthcare Services Group, Inc. (HCSG), Mimecast Limited (MIME), Tailored Brands, Inc. (TLRD), TripAdvisor, Inc. (TRIP), iUnited Rentals, Inc. (URI), and Boingo Wireless, Inc. (WIFI).




©2001-2019 TheTechnicalTrader (www.thetechtrader.com), a publication of AdviceTrade, Inc. All rights reserved.