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CYDY, GILD, GUSH, INMD, MNK, ZYXI — Stock Charts to Watch

Charts of the Day video for Thursday April 30th, 2020


CytoDyn Inc. (CYDY) popped 25 cents, or 8%, to 3.50, with a morning session high of 3.74, on 8.8 million shares traded on Thursday, to resistance, then backed off. Resistance is at 3.84 and high was 3.74. It has to get through 3.84, before it runs up to 5 and 6.

Gilead Sciences, Inc. (GILD) made the fifth wave up on Thursday, gaining 86 cents, or 1%, to 84.00, with a session high of 85.67, on 36.2 million shares traded, and then pulled back to consolidate in that zone. I think that if it manages to hold the 18 1/2 level and consolidates, it may yet get to 30.

The Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares (GUSH) is fantastic, moving up two weeks in a row now. On Thursday, it jumped another 1.05, or 2.6%, to 41.15, with a session high of 42.95, on 5.9 million shares traded. It has tremendous technicals. I suspect, if oil continues, this is a 50-dollar stock.

InMode Ltd. (INMD) broke out on Thursday, gained 73 cents, or 3%, to 26.02, with a session high of 28.54, on 2 million shares traded, and then pulled back, which is not unusual. I like the overall structure and breakout, so we put a swing on it. I am looking for 30, 34, and then more going forward.

Mallinckrodt plc (MNK) broke out, popping 18 cents, or 4.6%, to 4.06, with an early session high of 4.24 on Thursday, on 8.6 million shares traded, and then stalled. If it gets up through the 4.40 area, which is the near-term resistance, you may see this stock run up to 6.00.

Zynex, Inc. (ZYXI) has moved sharply higher, going from the April lows around 9.50 to Thursday’s session high at 18.25, doubling in that short of time and jumped 1.85, or 11.7%, to 17.66, on 1.2 million shares traded. Thursday was an inside day, and definitely a positive day. The volume is strong, and I think this stock will run to 20.

Stocks on the long side included Apache Corporation (APA), Canopy Growth Corporation (CGC), CytoDyn Inc. (CYDY), Darden Restaurants, Inc. (DRI), Eldorado Resorts, Inc. (ERI), Gilead Sciences, Inc. (GILD), Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares (GUSH), InMode Ltd. (INMD), Inovio Pharmaceuticals, Inc. (INO), MEI Pharma, Inc. (MEIP), Mallinckrodt plc (MNK), Moderna, Inc. (MRNA), Penn National Gaming, Inc. (PENN), Valero Energy Corporation (VLO), Vaxart, Inc. (VXRT), and Zynex, Inc. (ZYXI).

On the short side, stocks included Aaron's, Inc. (AAN), Boot Barn Holdings, Inc. (BOOT), Discover Financial Services (DFS), Gentex Corporation (GNTX), Group 1 Automotive, Inc. (GPI), Knoll, Inc. (KNL), MGP Ingredients, Inc. (MGPI), Insperity, Inc. (NSP), NovoCure Limited (NVCR), Universal Display Corporation (OLED), Anaplan, Inc. (PLAN), and TripAdvisor, Inc. (TRIP).




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