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FSLR, HIIQ, SNAP, SPWR, TERP — Stock Charts to Watch

Charts of the Day video for Tuesday September 17th, 2019


First Solar, Inc. (FSLR) broke out of a 6-week base pattern on Tuesday and jumped 2.38, or 4%, to 65.82, on 1.15 million shares. The entire solar group looks like it’s going to go higher. FSLR looks like it’s headed to 69-70, then take out 75, and make it to 80.

Health Insurance Innovations, Inc. (HIIQ) popped and I put a swing on it. On Tuesday, it ran 1.14, or 6%, to 20.91, on 869,749 shares traded. It’s in a 5-wave decline, broke out, pulled back, and it’s above the 50-day, double-top, and declining topsline. I’m looking for 25, 28, and 34 going forward.

Snap Inc. (SNAP) may have broken out. It took out the declining topsline and lateral price resistance. On Tuesday, it was up 1.07, or 7% to 16.83, on 40 million shares. If it can get up through 17.20, then we should see something around 18 1/2, and perhaps something higher down the road.

SunPower Corporation (SPWR) exploded 1.56, or 12%, to 14.50, on 7.3 million shares on Tuesday. I would estimate midchannel target 16, and then 20 going forward.

Swing trade TerraForm Power, Inc. (TERP) broke out of a four-week flag on Tuesday, and popped 68 cents, or 4%, to 17.58, on 945,325 shares traded. It looks like it’s going higher. It’s a really nice pattern since the Dec lows at 10, and change. Now, it’s above 17 1/2. Targeting 18 1/2 and 20.

Stocks on the long side included Avadel Pharmaceuticals (AVDL), Enphase Energy, Inc. (ENPH), First Solar, Inc. (FSLR), Health Insurance Innovations, Inc. (HIIQ), HUYA Inc. (HUYA), Pier 1 Imports, Inc. (PIR), SolarEdge Technologies, Inc. (SEDG), Snap Inc. (SNAP), SunPower Corporation (SPWR), StoneCo Ltd. (STNE), TerraForm Power, Inc. (TERP), and TherapeuticsMD, Inc. (TXMD).




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