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CYH, NWL, HEAR, AAXN, BYND — Stock Charts to Watch

Charts of the Day video for Wednesday October 9th, 2019


Stocks on the Long Side….

Community Health Systems, Inc. (CYH) exploded, flagged, I put a swing on it, it broke out, backed off, and on Wednesday it came on again, gaining just 15 cents, or 3.89%, to 4.01, on 1.15 shares traded. I think it looks pretty damn good! Targets are 5.05, 5.15, and 5.40.

Newell Brands Inc. (NWL) had a nice base breakout, pulled back and popped to 9 1/2, and then pulled back to support. At this point, it’s moving up rather nicely next to the trendline. On Wednesday, it popped 31 cents, or 1.68%, to 18.79, on 3.4 million shares. The next target is 21-21 1/2. Support is at 17 1/2.

Scorpio Tankers Inc. (STNG) is a very strong stock in the shipping group, as shipping has been moving as of late. This one has unusual momentum. It formed a long base, broke out in Feb, I put a swing on it, it consolidated, popped to the target, pulled back to support, ascended in a 5-wave move up, and on Wednesday, it popped 77 cents, or 2.28%, to 34.61, on 1.6 million shares. It’s still not done yet. My targets are 39 and 40.

Stocks on the Short Side….

Axon Enterprise, Inc. (AAXN) broke down in July, snapped back, shorted in that area, and dropped about 10-12 points. Wednesday, it was down 42 cents, or (-0.80%), to 52.34, on 532,792 shares traded. I think it’s going to go lower. The next target is 48.

Beyond Meat, Inc. (BYND) has been down seven of the last nine days, and on Wednesday, it was down another 3.38, or (2.37%), to 139.35, on 1.5 million shares. It’s approaching support again. Any move below 133 and this stock could tank. If it rolls over hard, 120 and 105 are targets.

 

Stocks on the long side included Applied Optoelectronics, Inc. (AAOI), Alpha and Omega Semiconductor Limited (AOSL), Avaya Holdings Corp. (AVYA), Babcock & Wilcox Enterprises, Inc. (BW), Ceragon Networks Ltd. (CRNT), Community Health Systems, Inc. (CYH), Dynavax Technologies Corporation (DVAX), Turtle Beach Corporation (HEAR), InMode Ltd. (INMD), Maxar Technologies Inc. (MAXR), Cloudflare, Inc. (NET), Invitae Corporation (NVTA), Newell Brands Inc. (NWL), Rite Aid Corporation (RAD), Renewable Energy Group, Inc. (REGI), Seattle Genetics, Inc. (SGEN), Soliton, Inc. (SOLY), Scorpio Tankers Inc. (STNG), and Zynex, Inc. (ZYXI).

On the short side, stocks included Axon Enterprise, Inc. (AAXN), Booz Allen Hamilton Holding Corporation (BAH), Beyond Meat, Inc. (BYND), Gildan Activewear Inc. (GIL), GrubHub Inc. (GRUB), MongoDB, Inc. (MDB), MercadoLibre, Inc. (MELI), Omnicell, Inc. (OMCL), Anaplan, Inc. (PLAN), TripAdvisor, Inc. (TRIP), Tractor Supply Corp (TSCO), The Trade Desk, Inc. (TTD), and Twilio Inc. (TWLO).




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