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KNX, OSTK, PAAS, PAYS, SSYS, XPO — Stock Charts to Watch

Charts of the Day video for Tuesday July 16th, 2019


Knight-Swift Transportation Holdings Inc. (KNX), in the trucking sector, popped 2.14, or 6.34%, to 35.89, on 4.9 million shares on Tuesday. That’s the biggest volume in about 6 months. It looks to me like a massive left shoulder with a double left shoulder-head-right shoulder. Tuesday’s high at 36.46 is right at the neckline. If it breaks through that, we’re looking at 39-40, and then 44.

Overstock.com, Inc. (OSTK) continues ramping up. On Tuesday it was up another 54 cents, or 3.14%, to 17.76, on 6.3 million shares. The swing trade we put on it at 14.83 ran up to near 20 two days ago at 19.75, and pulled back a little bit. But look at the overall structure of its channel. It still looks like it’s in order. Obviously, if it reaches 16.60, you may want to consider a stop. If this has just been consolidating for the last five days, it may explode again to 19 3/4-20. If it does, the next target is 22 3/4-23, and then 26 1/2.

Pan American Silver Corp. (PAAS), one of the leaders in the silver group, popped 82 cents, or 6.3%, to 14.01, on 7.6 million shares on Tuesday. You can see that the year-and-a-half long declining topsline was taken out recently, with a V-bottom as well. Wedge consolidation was broken with the 82-cents pop. My target is up at the multiple tops at 15 1/2. We’ll see where it goes beyond that.

PaySign, Inc. (PAYS) jumped 1.01, or 6.3%, to 17.01, on 2.4 million shares traded. It has been on my list for a year now and is on my Top 30 list. It has accelerated its angle and broke through at the top of its channel, leading me to believe we’re going to see 19 1/2-20 coming up.

Stratasys Ltd. (SSYS) had a little pop and pullback on Tuesday, gaining 59 cents, or 2%, to 29.88, on 926,596 shares traded. I have a feeling that the ascending wedge, or flag, is going to explode to 34, which is my next target.

XPO Logistics, Inc. (XPO), another company in the trucking logistics industry, popped out of its declining topsline and lateral resistance on Tuesday, gaining 3.30, or 5.6%, to 62.21, on 2 million shares. I think it’s going to extend short-term to the double-top from April coming in about 68 1/2, and then we’re looking at 79-80 as targets going forward.

Stocks on the long side included First Majestic Silver Corp. (AG), AVROBIO, Inc. (AVRO), Bio-Path Holdings, Inc. (BPTH), Beyond Meat, Inc. (BYND), Avid Bioservices, Inc. (CDMO), Energy Recovery, Inc. (ERII), Knight-Swift Transportation Holdings Inc. (KNX), Overstock.com, Inc. (OSTK), Pan American Silver Corp. (PAAS), PaySign, Inc. (PAYS), Perion Network Ltd. (PERI), Pieris Pharmaceuticals, Inc. (PIRS), Roku, Inc. (ROKU), Stratasys Ltd. (SSYS), and XPO Logistics, Inc. (XPO).




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