BA, FUV, GRAF, RAD, SOLO, WKHS -- Stock Charts to Watch

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BA, FUV, GRAF, RAD, SOLO, WKHS -- Stock Charts to Watch

Charts of the Day video for Monday June 29th, 2020

The Boeing Company (BA), on the 737 MAX testing on Monday, popped out of a wedge and jumped 24.48, or 14.4%, to 194.49, just a penny off the session high at 194.50, on 77 million shares traded. It looks like now the targets have to be about 208. A test of this level will take it to 234, or thereabouts.

Arcimoto, Inc. (FUV), in the recreational vehicle group, popped in April, coiled, popped and formed a wedge, and then popped again on Monday, jumping 1.16, or 26 1/2%, to 5.53, with a multi-month and session high of 5.85, on 2.7 million shares traded. That’s strong volume for that stock. The next target is 7.00.

Graf Industrial Corp. (GRAF), a special purpose acquisition company, which is in negotiations relating to a potential business, popped three days in a row, taking this stock from under 11 to nearly 18. Monday it popped 1.73, or 11 1/2%, to 16.75, with a session high of 17.93, on 2.6 million shares traded. It may have some momentum to get it to 19.

Rite Aid Corporation (RAD) popped two days in a row, pulled back on Friday, and exploded back up on Monday, jumping 2.22, or 14.7%, to 17.31, with a session high of 17.49, on 10.3 million shares traded. It looks like this one just broke out. My targets now are 20 and 24.

Electrameccanica Vehicles Corp. (SOLO) popped a wedge on Monday, and gained 73 cents, or 40%, to 2.56, just pennies off the session high at 2.60, on 44 million shares traded, and broke out of a coil. I’m looking for a test quickly of 3.00. If it gets through that, it may rocket to the 5-range.

Workhorse Group Inc. (WKHS) is a monster, literally, and has gone from just the last two or three weeks from 2.44 to 15.41, a 7-fold increase. It’s like its way beyond itself. On Monday, it jumped 4.62, or 46 1/2%, to 14.51, with a session high of 15.41, on 125.3 million shares traded. Be careful up here. Although its 69 cents in after-hours, and may get one more blow off into the high teens, I would be a seller on this one.

On the long side, stocks included The Boeing Company (BA), Bed Bath & Beyond Inc. (BBBY), Ballard Power Systems Inc. (BLDP), blnk, CytoDyn Inc. (CYDY), Daqo New Energy Corp. (DQ), Fluidigm Corporation (FLDM), Arcimoto, Inc. (FUV), Graf Industrial Corp. (GRAF), iBio, Inc. (IBIO), Kandi Technologies Group, Inc. (KNDI), Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL), NantKwest, Inc. (NK), Novavax, Inc. (NVAX), Invitae Corporation (NVTA), PDS Biotechnology Corporation (PDSB), Plug Power Inc. (PLUG), Purple Innovation, Inc. (PRPL), Rite Aid Corporation (RAD), Tortoise Acquisition Corp. (SHLL), Electrameccanica Vehicles Corp. (SOLO), Triumph Group, Inc. (TGI), Workhorse Group Inc. (WKHS), Wrap Technologies, Inc. (WRTC), and Waitr Holdings Inc. (WTRH).