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Canopy Growth Corporation (CGC), in the marijuana group, which we put trades on Monday, worked well. It had a breakout of 2.15, or 11.45%, to 20.93, with a session high of 21.67, on 15.6 million shares traded, that took out key resistance. It might be headed, now, to the spike high in May that is all the way up to 22.19. If it gets through there, we’re looking at 26.
Cronos Group Inc. (CRON), also in the marijuana group, is not quite as strong as CGC, and is developing a big base pattern. Monday’s pop of 73 cents, or 13.6%, to 6.01, with a session high of 6.12, on 8.2 million shares traded, got it right up to resistance. If it does follow through, 6.65 and 7.20 are the next targets.
Li Auto Inc. (LI) on Monday, popped, surged, and jumped 2.71, or 13.44%, to 22.88, with a session high of 24.48, on 24.8 million shares traded. It is now probably going to test the 24 range on Tuesday. If it gets through that, we could see high 20’s on this stock.
Lumber Liquidators Holdings, Inc. (LL) popped on Monday, and jumped 3.63, or 16.4%, to 25.75, having gone from a low of 22.70 to the session high at 27.00, on 1.8 million shares traded. That is the biggest volume traded in three months. Now it has to test and take out the 28 range.
Scholar Rock Holding Corporation (SRRK), which exploded for two days and then settled down, reversed again on Monday and moved up 5.36, or 13.78%, to 44.26, with a session high of 45.37, on 6 million shares traded. If it gets up to 46.50, I am looking for 50 and 55 going forward.
On the long side, stocks included Canopy Growth Corporation (CGC), Cronos Group Inc. (CRON), Community Health Systems, Inc. (CYH), Digital Ally, Inc. (DGLY), FLIR Systems, Inc. (FLIR), Farfetch Limited (FTCH), GrowGeneration Corp. (GRWG), Jumia Technologies AG (JMIA), Li Auto Inc. (LI), Lumber Liquidators Holdings, Inc. (LL), Livent Corporation (LTHM), NIO Inc. (NIO), Niu Technologies (NIU), Ocular Therapeutix, Inc. (OCUL), Plantronics, Inc. (PLT), Plug Power Inc. (PLUG), Snap Inc. (SNAP), ReneSola Ltd (SOL), Scholar Rock Holding Corporation (SRRK), Tronox Holdings plc (TROX), and VOXX International Corporation (VOXX).