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ERI, TDOC, AGX, BITA — Stock Charts to Watch

Charts of the Day video for Wednesday January 31st, 2018


Eldorado Resorts, Inc. (ERI), one of our old favorites from under 4.00, is now in its mid 30’s. The recent pullback held support. The snapback of 2.30, or 7%, to 34.55, traded 1.4 million shares on Wednesday. That’s one of the better volume patterns in the past 8 weeks. For me, if this gets up to the high, tests it, and backs off, it could see 37, and then 39-40.

Teladoc, Inc. (TDOC) was up 1.10, or 3%, to 37.40, on 1. million shares traded on Wednesday. It has been consolidating beautifully for 7-8 months now. In essence, it’s four waves up. It could run to the mid to high 40’s, and eventually the mid to high 60’s is a possibility. Technicals are phenomenal, and support at the 31 range. 17 days to cover.

Stocks on the Short Side….

Argan, Inc. (AGX), a fairly new Boxer Swing Short, or TechTrader Short, dropped 40 cents, or nearly 1%, to 43.60, on 223,846 shares traded on Wednesday. It had a massive drop, formed a bear wedge, and the next drop could take it to 36, or even 31.

Bitauto Holdings Limited (BITA) is rolling over, and on Wednesday it was down 61 cents, on nearly 2%, to 34.79, on 724,443 shares traded, and we put a short on it on a bearish inside day. If it cracks at 32, look for 27 and 22 1/2.

On the long side, stocks included Catalyst Biosciences, Inc. (CBIO), Global Eagle Entertainment Inc. (ENT), Eldorado Resorts, Inc. (ERI), GRIDSUM HOLDING INC. (GSUM), ImmunoGen, Inc. (IMGN), Iovance Biotherapeutics, Inc. (IOVA), Meritor, Inc. (MTOR), Mazor Robotics Ltd. (MZOR), Shutterfly, Inc. (SFLY), Square, Inc. (SQ), Teladoc, Inc. (TDOC), Take-Two Interactive Software Inc. (TTWO), Vericel Corporation (VCEL), and

Shorts included Applied Optoelectronics, Inc. (AAOI), Advanced Energy Industries, Inc. (AEIS), Argan, Inc. (AGX), Albemarle Corporation (ALB), Bitauto Holdings Limited (BITA), Esterline Technologies Corporation (ESL), Nutrisystem, Inc. (NTRI), Dave & Buster's Entertainment, Inc. (PLAY), RE/MAX Holdings, Inc. (RMAX), Sanderson Farms, Inc. (SAFM), TrueCar, Inc. (TRUE), and The Trade Desk, Inc. (TTD).

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