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.
It was not a bad day on Wall Street on Monday, but kind of a mixed consolidation and topsy-turvy day. The bottom line is, I think a lot of our stocks did well. It looks like the marijuana stocks are emerging, so we’ll going to look at several those, and a new swing trade.
Aurora Cannabis Inc. (ACB) broke out four days ago and is still running. It popped 33 cents, or 3.43%, to 9.94, 80 million shares on Monday. It has resistance at 11.00 and then the target is at about 12 1/2-3/4 going forward.
Aphria Inc. (APHA), a marijuana stock, thrust 64 cents, or 6.67%, to 10.24, on 9 million shares on Monday. We’ve been in this stock since the 5 1/2-6 range. It exploded to the 11-dollar range at resistance, backed and filled in a beautiful coil. The next step could take it to 14, even 17, or better. Keep an eye on 10.68-.70, any kind of energy can make it explode.
HEXO Corp. (HEXO), a marijuana stock, which broke out with a thrust of 7.5 million shares, climbing 62 cents, or 10.15%, to 6.73 on Monday. It was up another 38 cents, or 5.65%, in after hours, so it has risen to about 7.15-20. The target is 8.00.
The Green Organic Dutchman Holdings Ltd. (TGODF) also broke out on Monday. It climbed 41 cents, or 12%, to 3.82, on 3.2 million shares, and popped out of the consolidation range. We can see that the extension might take it to 4.70, 5.30, and it might get up to the double-top area at around 7.95-8.00, eventually.
Village Farms International, Inc. (VFF) is one of the strongest stocks in the marijuana group, if not Wall Street. It has gone from 3.00 to 16.00 in two months. On Monday, it was up another 2.02, or 14%, to 16.33, on 3.4 million shares. That’s the biggest volume ever traded on this stock. It’s extremely overbought, volume is strong, so you might see it run up to 20. I would be very careful with this one.
Swingtrade Rigel Pharmaceuticals, Inc. (RIGL), coming into a major declining topsline over the last six months, looks like it wants to pop. On Monday, it was up 15 cents, or 5.79%, to 2.57, on 2.5 million shares. There’s double resistance at 2.57, but if it can get through it, 3.16 and 3.64 are my targets.
Stocks on the long side included Aurora Cannabis Inc. (ACB), Aphria Inc. (APHA), HEXO Corp. (HEXO), The Green Organic Dutchman Holdings Ltd. (TGODF), Village Farms International, Inc. (VFF), Emerge Energy Services LP (EMES), Hi-Crush Partners LP (HCLP), U.S. Silica Holdings, Inc. (SLCA), Axsome Therapeutics, Inc. (AXSM), Catabasis Pharmaceuticals, Inc. (CATB), Dermira, Inc. (DERM), HUYA Inc. (HUYA), Iridium Communications Inc. (IRDM), Luna Innovations Incorporated (LUNA), Mesoblast Limited (MESO), Puma Biotechnology, Inc. (PBYI), Rocket Pharmaceuticals, Inc. (RCKT), Rigel Pharmaceuticals, Inc. (RIGL), Rockwell Medical, Inc. (RMTI), Smart Sand, Inc. (SND), StoneCo Ltd. (STNE), Pareteum Corporation (TEUM), and VelocityShares 3x Lng Crude Oil ETN New (UWT).