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HIIQ, LCI, OLED, SLCA — Stock Charts to Watch

Charts of the Day video for Tuesday November 7th, 2017


Health Insurance Innovations, Inc. (HIIQ), which we had earlier in the year, did very, very well for us after it broke back out in May, going from 20 to 37-8. It then came down in a 5-wave decline, reaching a spike low in September, taking it all the way back down to the 12-3 range, and on Tuesday it ran up 1.50, or 6.76%, taking it up to over 23.00 to 23.70, on nearly a million shares traded. More importantly, it looks like it has an inverse head-and-shoulders, and was a breakout above the declining topsline, the wedge, and the 50-day moving average on Tuesday, which should lead to the next resistance level around 27 3/4-28, and then I’m looking at 33.

Lannett Company, Inc. (LCI) drug company had a breakaway pop of 3.25, or 15%, to 24.45, on 2.1 million shares traded on Tuesday, which took it right up to resistance. The spike from October took it to 25.00, and Tuesday’s high, also 25.00. If it can get through the double-top, it should see 28, and then 30-33. It has 23 days to cover, and I think it’s on its way.

Universal Display Corporation (OLED), a swing trade of ours, has been acting great. Look at the move in just the last week to week and a half from 130.00 to nearly 170.00. It closed up 4.18, or 2.56%, to 167.57, with a high of 167.85, on 1 million shares traded on Tuesday. I think it’s going to be at 180.00 soon, with 5 days to cover.

U.S. Silica Holdings, Inc. (SLCA) was up 3.03, or 10%, to 34.55, on 6.6 million shares traded on Tuesday. I put a swing on it because I know this stock and we did very well with it when it went from 20.00 up to 60.00 in 2016 and early 2017. Then it got whacked, formed a bear wedge, and kept going lower, reaching in the 24-range before bouncing. It coiled, and on Tuesday was the breakaway gap on big volume. I think this may get up to Tuesday’s high of 35.80, and if it decides to make a run, look for 38.00 and then 42.00.

On the long side, stocks included California Resources Corporation (CRC), Energy Recovery, Inc. (ERII), Electro Scientific Industries, Inc. (ESIO), Exact Sciences Corporation (EXAS), GDS Holdings Limited (GDS), Health Insurance Innovations, Inc. (HIIQ), Jupai Holdings Limited (JP), Kindred Healthcare, Inc. (KND), Lannett Company, Inc. (LCI), Myomo, Inc. (MYO), Nektar Therapeutics (NKTR), Universal Display Corporation (OLED), QuinStreet, Inc. (QNST), Riot Blockchain, Inc. (RIOT), U.S. Silica Holdings, Inc. (SLCA), Valeant Pharmaceuticals International, Inc. (VRX), and XOMA Corporation (XOMA).

On the short side, stocks included Cardtronics (CATM), Medidata Solutions, Inc. (MDSO), Natural Health Trends Corp. (NHTC), PCM, Inc. (PCMI), Dave & Buster's Entertainment, Inc. (PLAY), TrueCar, Inc. (TRUE), and Veritiv Corporation (VRTV).

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