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.
Alphatec Holdings, Inc. (ATEC) on Thursday exploded 2.54, or 37%, to 9.42, with a session high of 9.55, on 11.2 million shares traded out of a breakaway gap. It is now at the highest level this stock has been since 2016. That’s four years. We’re at resistance. Any further upside and it will probably make a run somewhere around the 16-17 zone.
Bausch Health Companies Inc. (BHC) on Thursday had a nice explosive move, jumping 1.96, or 12%, to 18.04, with a session high of 18.34, on 11.4 million shares traded. It broke out through a couple resistance levels and above the 50 day. I’m now looking for a test of the 20 zone, followed by 22 1/2. Those are the near-term resistance and targets.
Canopy Growth Corporation (CGC) is another marijuana stock that exploded on Thursday, taking it up 2.69, or 17%, to 17.63, with a session high of 17.69, on 14 million shares traded, and another 82 cents in after-hours. It looks to me like it wants to blow. The next target is 19 1/2. If it gets through that, we’re looking at 21.
ON Semiconductor Corporation (ON) had a breakout on Thursday out of a multi-month consolidation after a spike and run off the March low and moved up 2.69, or 11.5%, to 26.04, with a session high of 26.06, on 21.7 million shares traded and an additional 49 cents in after-hours taking it to 26.53. Now, it is breaking through key resistance and testing the early 2018 high at 26.40. If it gets through this level, we could see 30-32 next.
Switchback Energy Acquisition Corporation (SBE) on Thursday traded up 1.01, or 7.37%, to 14.73, with a session high of 15.38, on 4.9 million shares traded, and another 50 cents to 15.10 in after-hours. It popped from a wedge or falling channel, holding the 21-day moving average and trendline. Targets now are 16 and 18 going forward.
On the long side, stocks included Aphria Inc. (APHA), AquaBounty Technologies, Inc. (AQB), Alphatec Holdings, Inc. (ATEC), Bausch Health Companies Inc. (BHC), Canopy Growth Corporation (CGC), Cornerstone Building Brands, Inc. (CNR), Coty Inc. (COTY), Cardiff Oncology, Inc. (CRDF), Denali Therapeutics Inc. (DNLI), Endo International plc (ENDP), Extreme Networks, Inc. (EXTR), GameStop Corp. (GME), ibm, Jumia Technologies AG (JMIA), NCR Corporation (NCR), Ocular Therapeutix, Inc. (OCUL), Orion Energy Systems, Inc. (OESX), Owens & Minor, Inc. (OMI), ON Semiconductor Corporation (ON), Pacific Biosciences of California, Inc. (PACB), Perion Network Ltd. (PERI), Switchback Energy Acquisition Corporation (SBE), Origin Agritech Limited (SEED), Sientra, Inc. (SIEN), Tilray, Inc. (TLRY), U.S. Concrete, Inc. (USCR), and Veritone, Inc. (VERI).