Charts of the Day

Harry's Charts of the Day videos are available nightly to members. Members please login and see Charts of the Day in the "Videos" menu dropdown.

HOME, INMD., OSTK, AAXN, EVBG, ISRG — Stock Charts to Watch

Charts of the Day video for Monday September 9th, 2019


Stocks on the Long Side….

Home Group Inc. (HOME) broke out of a base on Monday, popping 72 cents, or 10%, to 7.96, and the volume picked up to 7.2 million shares. I think we’re going to head for a target of 10-10 1/4 short-term.

InMode Ltd. (INMD) got a nasty intraday pullback on Monday that took it from nearly 28 down to about 24. It had a 5-wave decline, recovered and had an almost 50% retracement, and then closed up 1.91, or 7%, to 26.05, on 2.5 million shares. Nevertheless, I’m going to need to see this extend. I think this is a 30, and then a 35-dollar stock.

Overstock.com, Inc. (OSTK) had a big snapback over the last four days, recovering from under 15 to nearly 20. It jumped 2.57, or 15% to 19.47, on 3.9 million shares on Monday. The next targets in this zone are 22, 23 1/2, 25 going forward.

Stocks on the Short Side….

Axon Enterprise, Inc. (AAXN) dropped down 2.44, or 4%, to 59.55, on 633,467 shares traded on Monday. It may be about to break. If it does break here, targets could be 51, and then 47.

Everbridge, Inc. (EVBG) broke, and broke hard the last two days, rolling over from the 85-6 range down to 66 range. That’s a big drop, folks, 20 points straight down. On Monday, it closed down 4.23, or 5.7%, to 69.92, on 2.1 million shares. The angle of decent is showing a new angle that might be at the bottom at wave 3, and then support. You may want to cover it. It could bounce off the low, getting to 66-70. Any rally back to what could be wave four, could result in a downward movement and take this all the way down to 58.

Intuitive Surgical, Inc. (ISRG), which I’ve been talking about and showing you for months now. On Monday, it was down another 8.57, or 1.7%, to 496.69, on 528,718 shares. traded. If it rolls over and breaks the wedge, I’m looking for 455 and 433 as the next targets.

Stocks on the long side included ACADIA Pharmaceuticals Inc. (ACAD), Ardelyx, Inc. (ARDX), Activision Blizzard, Inc. (ATVI), California Resources Corporation (CRC), Comstock Resources, Inc. (CRK), Freddie Mac (FMCC), Federal National Mortgage Association (FNMA), At Home Group Inc. (HOME), Hovnanian Enterprises, Inc. (HOV), InMode Ltd. (INMD), The Michaels Companies, Inc. (MIK), Nutanix, Inc. (NTNX), Overstock.com, Inc. (OSTK), Paratek Pharmaceuticals, Inc. (PRTK), Tenneco Inc. (TEN).

On the short side, stocks included Axon Enterprise, Inc. (AAXN), Cerner Corporation (CERN), Lennox International Inc. (LII), Omnicell, Inc. (OMCL), and Workday, Inc. (WDAY).




©2001-2019 TheTechnicalTrader (www.thetechtrader.com), a publication of AdviceTrade, Inc. All rights reserved.