Harry Boxer's Charts of the Day stock chart videos are available nightly to members of TheTechTrader. Members please login and see Charts of the Day in the "Videos" menu dropdown.
Arbutus Biopharma Corporation (ABUS) is a swing trade we’ve been talking about. Up 75 cents, or 6 3/4%, on Wednesday, to 11.85, on 450,467 shares. You can see the run up it had, now this nice consolidation. Support around 10.30, resistance around 12, 12-05. If we get through that level, and blow through that line, that major trend shallow top, we could explode right to 15. This looks interesting. Keep an eye on it.
PolarityTE, Inc. (COOL) is up 10 cents, or 44%, on Wednesday, to 22.89, on 478,000 shares. After the big pop, the resistance, and pull back, a little coil developed. It broke out 2 days in a row, up again, not much today, but enough for me to say I think it’s got momentum to get it up to test and take out 26 1/4. If that occurs, 29 and 33 are targets.
Endocyte, Inc. (ECYT) swing trade continues to work. From about the April range when it was about 9 or 10, its moved up to as high as the high teens, near 18, 17.69. Up 96 cents, or 6%, to 16.28, on 1 million shares. It pulled back, tagged the top bottom of the channel, and snapped back. It had a nice tail on Tuesday and another follow through day on Wednesday. I like it. A little bit of resistance now, about 17, and the double top at 17 3/4. These are the levels you want to watch going forward. If we get through that, I’m looking for 19 and 21.
Turtle Beach Corporation (HEAR) is up another 96 cents, or 3 1/2%, to 28.15, on 1.5 million shares on Wednesday, but more importantly, it’s had a 6-day high. I think it might challenge the recent high of 30 and take that out and run up to 32 – 2 ½. Long term though, mid 40’s.
Stocks on the long side included Arbutus Biopharma Corporation (ABUS), Endocyte, Inc. (ECYT), ArQule, Inc. (ARQL), SodaStream International LTD. (SODA), Paycom Software, Inc. (PAYC), Kirkland Lake Gold Ltd. (KL), Tandem Diabetes Care, Inc. (TNDM), PolarityTE, Inc. (COOL), Libbey Inc. (LBY), Turtle Beach Corporation (HEAR), The Container Store Group, Inc. (TCS), CAI International, Inc. (CAI), Nanometrics Incorporated (NANO), Health Insurance Innovations, Inc. (HIIQ), Intelsat S.A. (I), Natera, Inc. (NTRA), CareDx, Inc. (CDNA), NII Holdings, Inc. (NIHD), and Unisys Corporation (UIS).