CARS, GME, MDRX, YALA, ZM -- Stock Charts to Watch

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CARS, GME, MDRX, YALA, ZM -- Stock Charts to Watch

Charts of the Day video for Thursday October 15th, 2020

Cars.com Inc. (CARS) on Thursday jumped 2.05, or 25.6%, to 10.06, with a session high of 10.10, on 11 million shares traded. This stock may have been a swing if I looked at it carefully, because it had a breakout through a triple top and through a consolidation zone. Basically, it could be four waves up and wave five is coming, which could take it to 11 1/2, and then the 13 range.

GameStop Corp. (GME) is astounding everyone as it continues to push higher. It was a nice day trade for the tech traders on Thursday, have gone from 11.86 to 15.10, before backing off and closing up of 1.58, or 13%, to 13.83, on 40 million shares traded. Nevertheless, it reached my intraday, 15-dollar target. At the point, I’m looking for 17 and 19 1/2.

Allscripts Healthcare Solutions, Inc. (MDRX) popped 37 cents, or 3.4%, to 11.27, with a session high of 11.65, on 5.7 million shares traded. It exploded on Wednesday, and on Thursday it had a beautiful consolidation day, but an engulfing consolidation bar. That’s very bullish. I’m looking for 12, 13, and 14 as targets going forward.

Yalla Group Limited (YALA), a new IPO, on Thursday, was up 1.20, or 15.5%, to 8.96, with a session high of 8.99, on 1.5 million shares traded. Looking at an hourly chart, this stock came down hard, bounced, pulled back, filled a little gap, and then proceeded to come right back up again. There’s some promise of an extension, first to 9 1/2, and then to 11.

ZOOM Technologies, Inc. (ZOOM) on Thursday was up another 27.15, or 5.3%, to 536.40, with a session high of 540.05, on 16.3 million shares traded. After it broke out of a coil on Tuesday and pulled back on Wednesday, I’m convinced this stock has more to go. My target remains 600.00 plus.

On the long side, stocks included Alphatec Holdings, Inc. (ATEC), Cars.com Inc. (CARS), CBAK Energy Technology, Inc. (CBAT), Brinker International, Inc. (EAT), Eiger BioPharmaceuticals, Inc. (EIGR), GameStop Corp. (GME), ImmunoGen, Inc. (IMGN), Inspired Entertainment, Inc. (INSE), Kraton Corporation (KRA), Allscripts Healthcare Solutions, Inc. (MDRX), NIO Inc. (NIO), NantKwest, Inc. (NK), Nautilus, Inc. (NLS), Nano Dimension Ltd. (NNDM), Ocean Power Technologies, Inc. (OPTT), Replimune Group, Inc. (REPL), Sleep Number Corporation (SNBR), ReneSola Ltd (SOL), SPI Energy Co., Ltd. (SPI), Tupperware Brands Corporation (TUP), AgEagle Aerial Systems, Inc. (UAVS), Yalla Group Limited (YALA), and ZOOM Technologies, Inc. (ZOOM).