CRON, SRNE, NTRI, TSRO -- Stock Charts to Watch

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CRON, SRNE, NTRI, TSRO -- Stock Charts to Watch

Charts of the Day video for Wednesday February 28th, 2018

Cronos Group (CRON), one of the marijuana stocks, did good as it got listed on the Nasdaq on Wednesday. It popped out of a right-handed, extended V, and jumped 1.55, or 20%, to 9.17, on 9.9 million shares traded, which is huge volume for this stock. We’ll be watching to see if it gets through 9 1/2 on Thursday, and if it does, the next target will be 12.

Sorrento Therapeutics, Inc. (SRNE) had a big day on drug approval on Wednesday, popping 1.50, or 18%, to 9.95, on 7.5 million shares traded. That’s the biggest volume since the pop it had back in Oct. If it accelerates here, this could be a high-teen stock. Targets are 13, and then 18-19 going forward.

Stocks on the Short Side….

Nutrisystem, Inc. (NTRI) is a Boxer Swing short. It got hammered on Tuesday and dropped another fraction on Wednesday, down another 55 cents, or 2%, to 30.75, on 2.9 million shares traded. The next target has to be down around 27, and then 23.

Tesaro, Inc. (TSRO) has been dropping steadily for a year now, going from 193.00 to Wednesday’s close at 55.23, down 6.32, or 10%, to 55.23, on 4.7 million shares traded. There’s some lateral support at 55.23, but if it gets any lower than that it could fall apart and get down to the low 40’s.

On the long side, stocks included Axon Enterprise, Inc. (AAXN), Ceragon Networks Ltd. (CRNT), Cronos Group (CRON), Endocyte, Inc. (ECYT), Enphase Energy, Inc. (ENPH), Direxion Daily Energy Bear 3X ETF (ERY), Etsy, Inc. (ETSY), Intelsat S.A. (I), Myomo Inc. Common Stock (MYO), Sorrento Therapeutics, Inc. (SRNE), Teladoc, Inc. (TDOC), Pareteum Corporation (TEUM), Talend S.A. (TLND), TriNet Group, Inc. (TNET), VelocityShares Daily 2x VIX ST ETN (TVIX), ProShares Ultra VIX Short-Term Futures (UVXY), Urogen Pharma Ltd. (URGN), and Veeva Systems Inc. (VEEV).

On the short side, stocks included Advanced Energy Industries, Inc. (AEIS), Albemarle Corporation (ALB), goos, Nutrisystem, Inc. (NTRI), PCM, Inc. (PCMI), The Scotts Miracle-Gro Company (SMG), Sun Hydraulics Corporation (SNHY), Triton International Ltd (TRTN), and Tesaro, Inc. (TSRO).