BLDP, DDD, FCX, NNOX, SPWR -- Stock Charts to Watch

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BLDP, DDD, FCX, NNOX, SPWR -- Stock Charts to Watch

Charts of the Day video for Wednesday October 7th, 2020

Ballard Power Systems Inc. (BLDP), after coming down through a 5-wave corrective truncated fifth-wave wedge, broke out last week and is continuing. On Wednesday it popped 1.26, or 7.3%, to 18.60, with a session high of 18.88, on 4.9 million shares traded. If it takes out 21, it may be headed to mid-20’s, even low 30’s next.

3D Systems Corporation (DDD) exploded on Wednesday on 24 million shares traded, which is huge for this stock, and popped 99 cents, or 18.4%, to 6.36, with a session high of 6.49. I haven’t seen a bar that big in volume going back two years. For me, this is an explosive, breakaway day through the moving average, lateral-price resistance, declining topsline, and up to secondary position. My target now is 7. If it gets through that, you might see this stock make a run to 8 or 9.

Freeport-McMoRan Inc. (FCX) swing trade exploded on Wednesday and broke out, trading up 1.33, or 8.5%, to 17.06, with a session high of 17.70, on 32 million shares traded. I think it’s headed toward 20.

Nano-X Imaging Ltd. (NNOX), after pulling back one day, stopped, and on Wednesday, moved up 4.87, or 14%, to 39.72, with a session high of 40.48, on 3.5 million shares traded. It’s not enough volume, but I like the look of it. I’m looking for a run to 45 near term.

SunPower Corporation (SPWR) has now been up for nine days in a row, and on Wednesday, it jumped 1.72, or 11%, to 17.33, with a session high of 18.16, on 18.5 million shares traded. It looks to me like this stock is at or above resistance. It had quite a move from the 2 1/2 range all the way up to 18 plus. It may be extended near term, but it has strong momentum.

On the long side, stocks included Bloom Energy Corporation (BE), Builders FirstSource, Inc. (BLDR), Chicken Soup for the Soul Entertainment, Inc. (CSSE), 3D Systems Corporation (DDD), Elanco Animal Health Incorporated (ELAN), Freeport-McMoRan Inc. (FCX), GrowGeneration Corp. (GRWG), NantKwest, Inc. (NK), Nikola Corporation (NKLA), Nano-X Imaging Ltd. (NNOX), Perion Network Ltd. (PERI), Plug Power Inc. (PLUG), Purple Innovation, Inc. (PRPL), Quanterix Corporation (QTRX), Cassava Sciences, Inc. (SAVA), Soliton, Inc. (SOLY), SPI Energy Co., Ltd. (SPI), SunPower Corporation (SPWR), Sorrento Therapeutics, Inc. (SRNE), Invesco Solar ETF (TAN), United Microelectronics Corporation (UMC), Vista Outdoor Inc. (VSTO), VivoPower International PLC (VVPR), and YRC Worldwide Inc. (YRCW).