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DEPO, LE, ROKU, SFIX — Stock Charts to Watch

Charts of the Day video for Wednesday December 6th, 2017


Depomed, Inc. (DEPO) is really acting great. Look at the way this stock came off the low, and then got through resistance. It formed a coil, now the apex, popped out, and has stair-stepped its way up 6 days in a row. It had an inside day on Monday, which usually leads to more upside, unless it’s a reversal day, which it isn’t yet. It was up 25 cents, or 3.18%, to 8.11, on 2.5 million shares traded. I’m thinking it’s going to test 9.00, and then 10.00. It has 7.3 days to cover. It’s 4-waves up, and I’m looking for wave 5 to get it up there.

Lands' End, Inc. (LE) Lands' End, Inc. (LE) is an interesting stock. It rolled over in January, came down, and exploded from 11.00 to 14.25, before it reversed. On Monday, it closed up 80 cents, or 6.1%, to 14.00, on 512,488 shares traded. I’m looking at resistance around 14.75. If it gets through that, the targets are 17.00 and 20.00.

Roku Inc (ROKU) is doing well. It formed a falling wedge after its October IPO, had an explosive move, formed a wedge, popped again, formed another wedge, and on Monday, it had a big engulfing reversal day, jumping 4.81, or 12%, to 44.25, on 11.888 million shares traded. Right now, resistance at around 45 1/2-3/4 range, but in particular I want to see it take out 47 1/2. If it gets through there, then the targets are 52 and 62.

Stitch Fix, Inc. (SFIX) was up 1.07, or 4.66%, to 24.04, on 677,945 shares traded on Monday. Ever since it went public in November, it ran up sharply, pulled back down and tested, then ran back up again, and now it’s in an ascending wedge. If this explodes to 24 1/2, and gets through the 24.60-.65 range, this stock can make it to the mid-channel range at 27-8, and, eventually down the road, the upper channel range at 32-3. I like the look of this overall. Keep an eye on this one for a potential day and/or swing trade.

On the long side, stocks included AeroVironment, Inc. (AVAV), Majesco Entertainment Company (COOL), Depomed, Inc. (DEPO), First Solar, Inc. (FSLR), Bitcoin Investment Trust (GBTC), Lands' End, Inc. (LE), NUTANIX, INC. (NTNX), Roku Inc (ROKU), Sucampo Pharmaceuticals, Inc. (SCMP), Stitch Fix, Inc. (SFIX), Sterling Construction Company, Inc. (STRL), and Vera Bradley, Inc. (VRA).

On the short side, stocks included Cardtronics plc (CATM), Charles River Laboratories International, Inc. (CRL), Esterline Technologies Corporation (ESL), Finisar Corp. (FNSR), Medidata Solutions, Inc. (MDSO), PCM, Inc. (PCMI), Dave & Buster's Entertainment, Inc. (PLAY), Tactile Systems, Technology Inc., TrueCar, Inc. (TRUE), The Trade Desk, Inc. (TTD), Veritiv Corporation (VRTV), and Ltd. (WIX).

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