DRI, JBL, KLDO, EDIT, MBUU, SHOP -- Stock Charts to Watch

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DRI, JBL, KLDO, EDIT, MBUU, SHOP -- Stock Charts to Watch

Charts of the Day video for Thursday September 24th, 2020

Darden Restaurants, Inc. (DRI), an old swing from back in April when I gave it to you in the 40’s, made it to almost 100 on Thursday, jumping 7.31, or 8.1%, to 97.31, with a with a session high of 99.60. It moved up another 1.09 in after-hours. It broke out on a big engulfing reversal day on multi-month volume of 7.2 million shares traded. Let’s see if it will extend going forward. Targets are 102, and then 115-118.

Jabil Inc. (JBL) on Thursday moved up 2.10, or 6.5%, to 34.41, with a session high of 35.14, on 4.4 million shares traded. It also had a big engulfing reversal day on good volume. It will have to get through resistance. Keep an eye on 35 3/4. If it gets above that, targets are 38 1/2 and 42 1/4.

Kaleido Biosciences, Inc. (KLDO) on Thursday exploded out of a long head-and-shoulder base that has lasted more than a year, and ran up 3.75, or 74%, to 8.84, with a session high of 9.35, on 4.4 million shares traded. It looks like, if it can pop, it can really explode. My target is 10. Beyond that, the intermediate target will be 13.

Stocks on the Short Side….

Editas Medicine, Inc. (EDIT) rolled over on Thursday, formed a massive head and shoulders, and broke down 2.37, or 8%, to 29.08, having gone from 28.65 to 31.04, on 1.25 million shares traded. It’s right on the neckline. If it gets under 28 1/2-3/4, it could see 25 and 22. Those are the targets going forward.

Malibu Boats, Inc. (MBUU) popped two days ago, had a big engulfing reversal day to the downside on Wednesday, followed through on Thursday, dropping 1.83, or 3.7%, to 47.80, with a session range of 47.49 to 50.35, on 329,239 shares traded. It’s right on support here and looks like a topping pattern as well. Moving average has rolled over slightly and technicals are coming down. A move on this one under 46, should lead to 42 and 35.

Shopify Inc. (SHOP) backed off the last couple days, formed a wedge, came down, and followed through on Thursday, dropping another 10.20, or 1.11%, to 908.61, with the day’s range going from 894.18 to 927.00, on 1.6 million shares traded. Targets going forward are 825, 795, and then 730.

On the long side, stocks included Sunworks, Inc. (SUNW), Bed Bath & Beyond Inc. (BBBY), Darden Restaurants, Inc. (DRI), Fluor Corporation (FLR), Jabil Inc. (JBL), Kaleido Biosciences, Inc. (KLDO), Invitae Corporation (NVTA), Owens & Minor, Inc. (OMI), Pacific Biosciences of California, Inc. (PACB), peck, Polar Power, Inc. (POLA), and Scientific Games Corporation (SGMS).

Stocks on the short side included CRISPR Therapeutics AG (CRSP), DocuSign, Inc. (DOCU), DexCom, Inc. (DXCM), Editas Medicine, Inc. (EDIT), Malibu Boats, Inc. (MBUU), Shopify Inc. (SHOP), and Wix.com Ltd. (WIX).