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EGO, GILD, LAKE, SURF, TVIX, ZYXI — Stock Charts to Watch

Charts of the Day video for Monday February 24th, 2020


Gold stock Eldorado Gold Corporation (EGO) is one of the few stocks that held out, and then exploded through the double-top on Monday, popping 95 cents, or 9.57%, to 10.88, with a high of 10.97, on 13.8 million shares. It looks like a great swing. My targets are 12 1/2 and 16 short term.

Gilead Sciences, Inc. (GILD), according to the World Health Org, may have the “one drug” that treats Coronavirus. This stock was up on Monday, but backed off, closing at 3.20, or 4.59%, to 72.90, with a high of 74.51, on a 40 million shares. I haven’t seen GILD trade that many shares in quite a while. Now I’m looking for an extension to 79.

Lakeland Industries, Inc. (LAKE), makers of protective gear used in relation to the coronavirus, was up 91 cents, or 6.69%, to 14.51, with a high of 15.22, on 1.3 million shares on Monday. That was basically an extension of a two-day move out of a falling wedge and 50-day moving average. This stock has risen strongly for the last three sessions. Targets going forward are 16 1/2, and then 17 1/2.

Surface Oncology, Inc. (SURF) has a beautiful chart for a biotech stock. Even though it was only up 10 cents, or 2.6%, to 3.95, with a high of 4.20, on 361,051 shares traded on Monday, I put a swing on it because I think it’s headed to the 5.85-6.00 zone short term.

The ProShares Ultra VIX Short-Term Futures (UVXY) and the ProShares Ultra VIX Short-Term Futures (UVXY) had a special day on Monday, the TVIX jumping 3.38, or 27.4%, to 15.72, with a high of 15.85, to 51.5 million shares. I’ve been watching this for a while, and yes, I have a light swing on these kind of stocks, because they are just too volatile. You never know what they are going to do overnight. My short-term target on TVIX is 72 and 82.

Zynex, Inc. (ZYXI), which we put a re-swing on Monday, broke down in Dec, pulled back, ran up, formed a right shoulder of a head-and-shoulder pattern, broke the neckline on Friday, followed through on Monday, gaining 1.50, or 12.65%, to 13.36, after running up to the session and all-time high at 14.10, on 1.2 million shares. I think this stock has energy and upside potential on good volume on Monday that could take it up to 16 1/2, and then 19.

Stocks on the long side included Allied Healthcare Products, Inc. (AHPI), Alpha Pro Tech, Ltd. (APT), Co-Diagnostics, Inc. (CODX), Gilead Sciences, Inc. (GILD), Genprex, Inc. (GNPX), Lakeland Industries, Inc. (LAKE), NanoViricides, Inc. (NNVC), Novavax, Inc. (NVAX), Schrodinger, Inc. (SDGR), Surface Oncology, Inc. (SURF), Vir Biotechnology, Inc. (VIR), Avadel Pharmaceuticals (AVDL), Brainstorm Cell Therapeutics Inc. (BCLI), Co-Diagnostics, Inc. (CODX), Vir Biotechnology, Inc. (VIR), Eldorado Gold Corporation (EGO), GSX Techedu Inc. (GSX), Virgin Galactic Holdings, Inc. (SPCE), the VelocityShares Daily 2x VIX ST ETN (TVIX), the ProShares Ultra VIX Short-Term Futures (UVXY), Beyond Air, Inc. (XAIR), Zoom Video Communications, Inc. (ZM), and Zynex, Inc. (ZYXI).




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