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DFFN, QCOM, QD, SIEN, STNG, SWAV — Stock Charts to Watch

Charts of the Day video for Thursday May 2nd, 2019

Diffusion Pharmaceuticals Inc. (DFFN) had a huge day on Thursday, exploding 2.82, or 92%, to 5.90, on 12.5 million shares. It had a big run-up and pullback, popped, had a 5-wave corrective pullback, spiked up to a double-top, had a nominal new high before a late pullback. In after hours, it was coming up again. At this point, it may not be done. If it gets above 6.60-.65, it could ramp-up to 7.00, and 8.00.

QUALCOMM Incorporated (QCOM) popped 77 cents, to 87.14, on 37.7 million shares on Thursday. It’s in a ramping-up mode after the breakaway gap mid-April and is now firming up in the next rising flag. Ultimately, I’m looking for 98.00 going forward.

Qudian Inc. (QD), in particular, exploded and broke out of its base the first part of April, ran up, pulled back, and then took off. On Thursday, it popped 80 cents, or 11%, to 8.31, on 15.2 million shares, which is big volume for this stock. Going forward, my target is 10-10 1/2.

Sientra, Inc. (SIEN) may have broken the declining topsline and channel on Thursday, advancing 64 cents, or 7.6%, to 9.06, on 2.1 million shares. Now, this channel looks like it might be in jeopardy. Initially, resistance is at 10-10 3/4 range. If it gets through that, targets are 12, and then 15.

Scorpio Tankers Inc. (STNG) bounced 1.86, or 7.16%, to 27.82, on 2.3 million shares on Thursday. It broke out a couple weeks ago and I gave you a swing on it and has be ramping up quite nicely since then. The next target is 32.

ShockWave Medical, Inc. (SWAV) gained 2.07, or 5.3%, to 41.14, on 450,771 shares traded on Thursday. It’s snapping back after couple days of a pullback consolidation. It had the big run-up and support now is at 38 3/4. The first target is 45 and secondary target is 50.

Stocks on the long side included Advanced Micro Devices, Inc. (AMD), Diffusion Pharmaceuticals Inc. (DFFN), VelocityShares 3x Invrs Crude Oil ETNNew (DWT), Moderna, Inc. (MRNA), Polaris Industries Inc. (PII), Perficient, Inc. (PRFT), Precipio, Inc. (PRPO), QUALCOMM Incorporated (QCOM), Qudian Inc. (QD), Quotient Limited (QTNT), Rockwell Medical, Inc. (RMTI), Sientra, Inc. (SIEN), Scorpio Tankers Inc. (STNG), ShockWave Medical, Inc. (SWAV), Tempur Sealy International, Inc. (TPX), William Lyon Homes (WLH), and Zynex, Inc. (ZYXI).

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