FMCI, NNOX, SHLL, UTZ, WKHS -- Stock Charts to Watch

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FMCI, NNOX, SHLL, UTZ, WKHS -- Stock Charts to Watch

Charts of the Day video for Tuesday September 8th, 2020

Forum Merger II Corporation (FMCI) exploded on Tuesday after pulling back for two days, and moved up 1.96, or 9.3%, to 22.96, with a session high of 23.50, on 2.3 million shares traded. It is at resistance. If it gets through 23 3/4, I’m looking for 27-28 next.

Nano-X Imaging Ltd. (NNOX), recent IPO and swing trade, had a spectacular reversal on Tuesday, moving up 4.45, or 12%, to 40.85, with a session high of 42.00, on 2.3 million shares traded. Nice pop and highest close since the IPO. If it gets through 43 1/2, I will be looking for high 40’s, 48 maybe.

Tortoise Acquisition Corp. (SHLL), which we first discovered at 16 3/4 back in June, on Tuesday ran up 2.95, or 5.9%, to 53.30, with a session high of 56.00, on 10 million shares traded. It got up to as high as 58.66 last Wednesday. Thursday and Friday were pullback days, with a reversal on Friday and a follow-through on Tuesday. If it can get up through 58 1/2, I would look for mid-60’s, even low-70’s next.

Utz Brands, Inc. (UTZ) exploded from nearly 13 1/2 in late August to 19, and then backed off. It was back up on Tuesday, popping 89 cents, or 5 1/4%, to 17.86, with a session high of 18.27, on 1.9 million shares traded. If it can get it up through 19.40, I’m looking for 21-22 going forward.

Workhorse Group Inc. (WKHS) is doing great! It exploded on Tuesday 1.67, or 8.5%, to 21.38, with a session high of 23.85, on a whopping 60 million shares traded. That’s the best volume for this stock since late June, early July. Now, thinking it’s breaking out, I have a target in the 23-25 range, and then 28-30.

On the long side, stocks included Albireo Pharma, Inc. (ALBO), Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares (DRIP), ProShares UltraShort Bloomberg Crude Oil (SCO), Forum Merger II Corporation (FMCI), Graf Industrial Corp. (GRAF), Landcadia Holdings II, Inc. (LCA), Nikola Corporation (NKLA), Nano-X Imaging Ltd. (NNOX), Peloton Interactive, Inc. (PTON), Tortoise Acquisition Corp. (SHLL), Direxion Daily Semiconductor Bear 3X Shares (SOXS), ProShares UltraPro Short QQQ (SQQQ), Spero Therapeutics, Inc. (SPRO), ProShares UltraPro Short S&P500 (SPXU), Surface Oncology, Inc. (SURF), TRACON Pharmaceuticals, Inc. (TCON), Trillium Therapeutics Inc. (TRIL), Utz Brands, Inc. (UTZ), and Workhorse Group Inc. (WKHS).

On the short side stocks included BlackLine, Inc. (BL), Chegg, Inc. (CHGG), Cree, Inc. (CREE), Citrix Systems, Inc. (CTXS), F5 Networks, Inc. (FFIV), Fastly, Inc. (FSLY), Fortinet, Inc. (FTNT), GSX Techedu Inc. (GSX), II-VI Incorporated (IIVI), Inphi Corporation (IPHI), iRobot Corporation (IRBT), Lumentum Holdings Inc. (LITE), The Children's Place, Inc. (PLCE), Quidel Corporation (QDEL), Tactile Systems Technology, Inc. (TCMD), Teladoc Health, Inc. (TDOC), Twilio Inc. (TWLO), and Ltd. (WIX).