Closing Analysis

Mixed Consolidation Day

Closing Technical Market Analysis for Tue April 2nd 2019

The stock market was very mixed on Tuesday as the Dow and S&P 500 gapped down at the opening and the Nasdaq 100 gapped up, pulled back early morning, rallied, consolidated, and then around the noon hour, took off and ran for the rest of the day, only to pull back at the close to close slightly off the highs for the session.

Net on the day, the Dow was down 79.29 at 26,179.13. The S&P 500 was up 0.05 at 2867.24, barely moving on Tuesday, had the lightest volume on a full day of trading since August. The Nasdaq 100 was up 21.22 at 7499.65.

Advance-declines were 271 issues negative on the New York Stock Exchange, and 62 issues positive on the Nasdaq. New York total volume 3 billion shares traded. The Nasdaq traded 1.9 billion shares. board was mixed and very volatile on Tuesday. Alphabet Inc. (GOOG) was up 6.06 to 1200.49, Apple Inc. (AAPL) up 2.78 to 194.02, and Facebook, Inc. (FB) 5.50 to 174.20.

The Direxion Daily S&P Biotech Bull 3X ETF (LABU) jumped 2.52 to 62.01, Exact Sciences Corporation (EXAS) up 1.61 to 91.86, Voyager Therapeutics, Inc. (VYGR) up 1.46 to 21.25, Esperion Therapeutics, Inc. (ESPR) 3.23 to 43.42, CRISPR Therapeutics AG (CRSP) 2.45 to 37.90, and Rubius Therapeutics, Inc. (RUBY).

Other stocks to the upside included Teladoc, Inc. (TDOC) to 1.89 to 55.52, DocuSign, Inc. (DOCU) up 1.58 to 53.72, Etsy, Inc. (ETSY) 1.52 to 69.73, Delta Air Lines, Inc. (DAL) 3.15 to 55.33, Wynn Resorts, Limited (WYNN) 5.69 to 135.03, Twilio Inc. (TWLO) 2.12 to 129.79, marijuana stock, Charlotte's Web Holdings, Inc. (CWBHF) 1.52 to 22.66, 1.21 to 19.63, and AbbVie Inc. (ABBV) 2.29 to 83.07.

To the downside,, Inc. (AMZN) was down 21 cents to 1813.98, and Tesla, Inc. (TSLA) dropped 3.30 to 285.88.  

Checking percent-gain leaderboard, ADMA Biologics, Inc. (ADMA) advanced 99 cents, or 24%, to 5.06, on 25 million shares. Castor Maritime Inc. (CTRM) gained 70 cents, or 13%, to 5.96, on 2.8 million shares. Riot Blockchain, Inc. (RIOT) popped 80 cents, or 4.34, on 10.7 million shares. Akoustis Technologies, Inc. (AKTS) bounced 61 cents, or 10 1/2%, to 6.40.

EDAP TMS S.A. (EDAP) moved up 1.26 or 42%, to 4.25, on 4.6 million shares. MediciNova, Inc. (MNOV) claimed 1.26, or 15%, to 9.55. Zynerba Pharmaceuticals, Inc. (ZYNE) snapped back 1.08, or 20%, to 6.48, on 4.1 million shares.

Sangamo Therapeutics, Inc. (SGMO) climbed 2.76, or 29%, to 12.29, on 22 million shares. Safe-T Group Ltd (SFET) spiked to 3.34, before pulling back and closing up 27 cents, or 11%, to 2.75, on 1.455 million shares. AudioCodes Ltd. (AUDC) climbed 1.44, or 10%, to 15.69. AmeriGas Partners, L.P. (APU) pushed forward 3.27, or 10 1/2%, to 34.40, on 8.9 million shares.

Among other gainers, Carvana Co. (CVNA) was up 3.88 to 62.82, Kornit Digital Ltd. (KRNT) up 1.33 to 25.40, Atlassian Corporation (TEAM) 1.73 to 115.60, Radius Health, Inc. (RDUS) 1.16 to 21.60, and Kirkland Lake Gold Ltd. (KL) 1.38 to 31.01.

Let’s see what happens tomorrow.

Good Trading! 


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