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DBD, INTC, MGM, PENN, SQ, W — Stock Charts to Watch

Charts of the Day video for Monday April 6th, 2020


Diebold Nixdorf, Incorporated (DBD) broke in Feb, came down in a falling wedge, reversed on Monday, gapped, ran up to the 21-day moving average and declining topsline, and then backed off. Still, it popped 57 cents, or 18%, to a session high of 4.27, before pulling back and closing up 3.77, on 2.7 million shares traded. If it can get it up to 4.45-4.48 on Tuesday, targets are 4 1/2, 5 1/4-1/2, and maybe as high as 6 1/4-1/2.

Intel Corporation (INTC) has looked great of late. This large-cap stock is doing really well. It consolidated, and the declining topsline broke out on Monday with a breakaway gap across double tops and resistance. It got right up to the moving average, gaining 4.30, or 8%, to 58.43, with a session high of 58.75, on 32 million shares traded, and stalled there. Nevertheless, any further upside takes it to 59 and 63.

MGM Resorts International (MGM) formed a V-bottom with a right-hand extended platform, and on Monday, it broke away, jumping 2.33, or 22%, to 12.91, with a session high of 13.07, on 32.5 million shares traded, and an additional 11 cents to 13.02 in after-hours. It may have broken the wedge that formed. Going forward, I’m looking for 15 and 17.

Penn National Gaming, Inc. (PENN) snapped back out of a falling wedge on Monday, and jumped 1.26, or 13%, to 11.03, after reaching a session high of 11.75, on 11 million shares traded. I’m looking for a follow-through that tests and takes out 13 1/2, and then moves up to 16.

Square, Inc. (SQ) formed a V-bottom with a right-hand extension, popped, and broke out on Monday, advancing 6.70, or 15.32%, to 50.42, after reaching a session high of 51.10, on 25 million shares traded. I’m looking for a quick run at 55, and then 59.

Wayfair Inc. (W) exploded 20.87, or 41%, to 71.50, with a session high of 76.47, on 11 million shares traded, and another 30 cents to 71.80 in after-hours on Monday. It closed above the 50-day, and I think now it will run to 83-84.

Stocks on the long side included ACM Research, Inc. (ACMR), Apache Corporation (APA), Carnival Corporation (CCL), Co-Diagnostics, Inc. (CODX), Diebold Nixdorf, Incorporated (DBD), Darden Restaurants, Inc. (DRI), DXC Technology Company (DXC), Eldorado Resorts, Inc. (ERI), Direxion Daily Energy Bull 2X Shares (ERX), Grayscale Bitcoin Trust (BTC) (GBTC), Inovio Pharmaceuticals, Inc. (INO), Intel Corporation (INTC), iShares Russell 2000 ETF (IWM), KB Home (KBH), Direxion Daily S&P Biotech Bull 3X Shares (LABU), MGM Resorts International (MGM), Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL), O-I Glass, Inc. (OI), Penn National Gaming, Inc. (PENN), Red Robin Gourmet Burgers, Inc. (RRGB), Direxion Daily Semiconductor Bull 3X Shares (SOXL), Square, Inc. (SQ), U.S. Concrete, Inc. (USCR), VelocityShares 3x Long Silver ETN Linked to the S&P GSCI Silver Index ER (USLV), Vir Biotechnology, Inc. (VIR), Wayfair Inc. (W), Energy Select Sector SPDR Fund (XLE), and Zscaler, Inc. (ZS).




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