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Advanced Micro Devices, Inc. (AMD) on Thursday jumped 1.40, or 1.6%, to 86.71, with a session high of 86.98, on 53 million shares traded. This stock has been a monster since we gave you a second or third swing on it. This time when it broke out across 60, we gave you a swing on it and it has made it all the way up to my target, reaching almost 87 on Thursday at the top of the channel. It might have some momentum getting into low-to-mid, even upper, 90’s. For now, be careful and peel some back up in this zone.
Freeport-McMoRan Inc. (FCX), a new swing of ours, broke out of the 4-week consolidation and did it on volume with a breakaway gap. On Thursday it followed through and was up 59 cents, or 4.2%, to 14.56, with a session high of 14.76, on 31.3 million shares traded. I think it will move higher. Targets are 16 and 18.
Inovio Pharmaceuticals, Inc. (INO) dropped on Thursday and was down 1.46, or -6.7%, to 20.33, with a session high of 21.84, on 15.4 million shares traded. It may not be ready yet. It is consolidating but holding the moving averages at support at 18 1/2-3/4. I want to see that it is not broken down. That would be a stop for me. If it does pop, 27, 33, and much more may be doable.
SunPower Corporation (SPWR) is looking really good, although it did give back 34 cents, or -3%, to 11.16, with a session high of 11.89, on 5.2 million shares traded on Thursday. This stock looks like it is breaking out of a long base at resistance and might make it to the next target at 13 3/4-14 and 16.
First Solar, Inc. (FSLR) has been ripping it, but it did move down -1.27, or -1.9%, to 64.46, with a session high of 65.36, on 1.5 million shares traded on Thursday. It has been in a beautiful rising channel and a leader in the solar group, which has gone from the March low at 28, and change, to the mid-60’s. I think it is not done yet. I’m targeting 68 and 75.
On the long side, stocks included Acacia Research Corporation (ACTG), AIM ImmunoTech Inc. (AIM), Advanced Micro Devices, Inc. (AMD), Blink Charging Co. (BLNK), Co-Diagnostics, Inc. (CODX), Cardiff Oncology, Inc. (CRDF), Freeport-McMoRan Inc. (FCX), Fulgent Genetics, Inc. (FLGT), Grayscale Bitcoin Trust (BTC) (GBTC), Inovio Pharmaceuticals, Inc. (INO), Owens & Minor, Inc. (OMI), Perion Network Ltd. (PERI), Quanterix Corporation (QTRX), Riot Blockchain, Inc. (RIOT), Origin Agritech Limited (SEED), SunPower Corporation (SPWR), First Solar, Inc. (FSLR), U.S. Concrete, Inc. (USCR), SolarWindow Technologies, Inc. (WNDW), Wrap Technologies, Inc. (WRTC) and YRC Worldwide Inc. (YRCW).