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TLRY, MTLS, CPRT, PII — Stock Charts to Watch

Charts of the Day video for Tuesday December 18th, 2018

TLRY, MTLS, CPRT, PII

Tilray, Inc. (TLRY) is one that I want to show you because it had that big 5-wave decline, and on Tuesday it snapped back ten points, jumping 10.61, or 16%, to 76.50, on 5.6 million shares. That’s the biggest volume in two months but is it enough. I think that if it gets through 86, maybe it will get to 100 again. Be careful with that one.

Materialise NV (MTLS) had a spectacular move off of the consolidation range. It’s been in that zone for two years. On Tuesday it exploded 2.72, or 17%, to 18.51, on 1.2 million shares. Where does this go on a long-term basis? The only way you could gage that move potentially is by creating parallel channels to that move, which gets it somewhere in the high 20’s. I’m not saying it’s going 10 more points, but we could, short-term, see something up in the 22-24 range.

Stocks on the Short Side…..

Copart, Inc. (CPRT) looks like it’s on the brink of a precipice of a rollover and slam-dunk, down another 23 cents, to 46.96, on 2.66 million shares on Tuesday. If it gets below 45.96 on Wednesday, or anytime in the next few days, it could come down to 42, even 39.

Polaris Industries Inc. (PII) dropped 60 cents, to 77.61, on 604,533 shares traded on Tuesday. This stock is a steady decliner. The rising wedge is broken. Five-waves down and it did touch support. It might pull in this zone, but my target remains 70.




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