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EHTH, NTWK, ERI, WYNN — Stock Charts to Watch

Charts of the Day video for Monday October 29th, 2018


Tesla, Inc. (TSLA), amazingly, was one of the few tech stocks that did anything on Monday, and in the last four or five sessions, it has gone from 254 to 347, almost 95 points. On Monday it jumped 3.95, or 1.19%, to 334.85, on 14 million shares. It has really been a nice move up, and straight up. If it backs and fills in here it might have a shot at the highs.

eHealth, Inc. (EHTH) had a big day on Monday. It exploded on Friday, followed through and popped on Monday, extending by 1.72, or 5.32%, to 34.06, on 559,732 shares traded. Volume was strong in the breakout, this stock reaching its highest level in four years. There is a bit of resistance up in the target zone around 39.00.

NetSol Technologies, Inc. (NTWK) has five waves up, with what I think is a two-wave extension. A strong move in a lousy market is always a good sign of relative strength. On Monday, it popped 60 cents, or 7%, closing at the high for the day at 9.00, on 237,283 million shares, which isn’t a lot of volume, but it is for that stock. It looks to me like the angle changed. With this angle and this kind of energy, I’m impressed. There is some resistance going back three years at 9.50, and right now it’s at 9.00. If it gets through 9.50, I think it has a shot at taking that stock to at least the 12-13 zone.

Stocks on the Short Side….

Eldorado Resorts, Inc. (ERI) is getting crushed. Finally, after breaking the long-term up- trend, and forming a rising bear flag, it rolled over, broke to 43, and then quickly lost 10 points. It dropped another 3.69, or 10%, to 32.82, on over 3 million shares on Monday. There is some support, so you may see a bounce in the 29-31 zone.

Wynn Resorts, Limited (WYNN) just keeps going down. On Monday, it lost another 6.33, or 6.3%, to 94.18, on 2.9 million shares, reaching a low of 91 1/2. It has gone from May’s high of over 200, losing more than half its value, with a target now of 85.

Stocks on the long side included Cooper Tire & Rubber Company (CTB), eHealth, Inc. (EHTH), World Fuel Services Corporation (INT), Mercury General Corporation (MCY), NetSol Technologies, Inc. (NTWK), and Tesla, Inc. (TSLA).

On the short side, stocks included Axon Enterprise, Inc. (AAXN), A. O. Smith Corporation (AOS), AxoGen, Inc. (AXGN), TopBuild Corp. (BLD), Copart, Inc. (CPRT), CRISPR Therapeutics AG (CRSP), Daqo New Energy Corp. (DQ), Electronic Arts Inc. (EA), Eldorado Resorts, Inc. (ERI), Fortinet, Inc. (FTNT), GrubHub Inc. (GRUB), IntriCon Corporation (IIN), Instructure, Inc. (INST), Olin Corporation (OLN), PVH Corp. (PVH), Scientific Games Corporation (SGMS), SiteOne Landscape Supply, Inc. (SITE), stmp, LendingTree, Inc. (TREE), Tower Semiconductor Ltd. (TSEM), U.S. Concrete, Inc. (USCR), Visteon Corporation (VC), Wayfair Inc. (W), Weight Watchers International, Inc. (WTW), World Wrestling Entertainment, Inc. (WWE), and Wynn Resorts, Limited (WYNN).

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