Harry has posted Charts of the Day video on UVXY at TheTechTrader site noting:The ProShares Ultra VIX Short-Term Futures (UVXY) jumped 3.45 to 39.80, or 8.3%, on 33.4 million shares traded. It has exploded from the 26 range all the way up to 59, and the pullback last week from the market rally has taken it back down near 40. It reversed sharply on Wednesday from 39.80 to 46.22. 33.4 million shares is the best volume in four sessions. If it gets through 46 on Thursday, which it could at the opening, the target is in the 50’s, maybe 58-59.
Harry has posted Charts of the Day video on LABD at TheTechTrader site noting: The Direxion Daily S&P Biotech Bear 3X ETF (LABD) is rockin’ it. After forming a base, breaking out and retesting the trendline, it looks like the spike up of 8.16 to 68.07, or 13.6%, on 595,300 shares traded could extend. If it goes down on Thursday, it could get the momentum necessary to get it up into the mid 70’s. The target is 74-74 1/2.
Harry has posted Charts of the Day video on CRAY at TheTechTrader site noting: Cray Inc. (CRAY) has a really nice chart, and possibly a good swing trade if it gets to 42. This stock moved up in the face of a declining market on Wednesday, 1.19 to 38.46, or 3%, on 871,700, and closed near the high for the day. That is absolute, excellent action for this stock. Support is at 36, target is 42. It has 11.62 days to cover.
Harry has posted Charts of the Day video on XON at TheTechTrader site noting: Intrexon Corporation (XON) has four waves with a long fifth wave down, ending at the spike low, it had a big reversal, two-day follow-through, got to resistance, backed off and retested, bounced right back again, only to finish off the highs because of the declining topsline and moving averages. On Thursday, it was up 28 cents to 26.51, on 2 million shares. It needs to get going with a follow-through. The targets are 32, 34, and eventually 39.
Harry has posted Charts of the Day video on PACB at TheTechTrader site noting:Pacific Biosciences of California, Inc. (PACB) held the 50-day, even with the market pullback, it bounced, retested on Wednesday, and on Thursday, it jumped 70 cents to 12.99, or 5.7%, on nearly 2 million shares. It looks like it formed a nice consolidation, and if it takes off, the target is in the 17-18 zone. It has 7.5 days to cover.
Harry has posted Charts of the Day video on EGHT at TheTechTrader site noting: 8x8 Inc. (EGHT) had a swing put on it on Thursday. It has a nice base pattern, a run up from 7.25 to 12.40, about 5 points, it pulled back, had a 3-wave corrective move, reversed to the upside, and on Thursday, it was up 14 cents to 11. 16, or 1.3%, on nearly a million shares. Look for it to move to 11 3/4-12 and then run. Based on the merger move the next target is 15.
Harry has posted Charts of the Day video on CREE at TheTechTrader site noting: Cree, Inc. (CREE) has been forming a nice base for six months, and after it looked like it was going to break out a couple of places, it came down with the market, but held the neckline on the support line at 23 1/2, and exploded off of that to get to 28 on Thursday. So it needs to get to 29. Keep an eye on resistance here. There is a declining topsline and lateral resistance, and it’s above the two moving averages. If it gets above 29, this stock could very well get to 31, 34, and maybe even as high as 36. It was up 1.40 to 27.71, or 5.3%, on 2.6 million shares on Thursday, and has 17.94 days to cover.
Harry has posted Charts of the Day video on W at TheTechTrader site noting: Wayfair Inc. (W) had a nice reversal off the trend line at the bottom of the channel on Wednesday, up a whopping 3.74 to 42.15, or 9.7%, on 2.2 million shares. t had a 6-point reversal and closed not far off the high at 42.49. It has 13.6 days to cover. Look for a retest of 49-50, and if it gets through that, then look for it to head up to the mid 50’s.
Harry has posted Charts of the Day video on ERII at TheTechTrader site noting: Energy Recovery, Inc. (ERII), after dropping out of a wedge and pulling down into the gap, reversed sharply on Thursday, going from 5.90 to 6.70, and closed up 77 cents to 6.67, just three cents off the high, or 13%, on 726,000 shares traded. With 7 days to cover and that kind of volume, we need to watch to see if 7-7 1/4 is taken out. That would be a major mover for it. Something to watch. Thursday was a really good day for it.
Harry has posted Charts of the Day video on EGHT at TheTechTrader site noting: 8x8 Inc. (EGHT) is one of our favorites. It has a beautiful, inverse head-and-shoulders, a retest, it broke out with a big run up, came down in a 3-wave corrective pullback, and is now in a big consolidation pattern that may set up a move that takes it to 14 1/2-15, eventually, if there is a cooperating market. There is some resistance up around 11 3/4-12 and the 12.40 range, but if it can get up through the declining topsline, it could lead to a really nice move. We may put another swing on this one.
Harry has posted Charts of the Day video on CRR at TheTechTrader site noting: CARBO Ceramics Inc. (CRR) was on our short list when it was up in the 90’s and went all the way down to the 25 area in a massive 5-wave decline. It did very well for us. After forming a little base, it looked like it was breaking out and I took it off my list and discontinued following it. Unbeknownst to me, it went from 47 all the way down to 15. However, on Thursday, it jumped 3.70 to 19.49, or 24%, on 1.6 million shares. It hasn’t had that kind of volume since Aug, and it was the second biggest volume since April. That was a very big move. It took out all three moving averages, the declining topsline, and lateral resistance. There’s 14.7 days to cover. It may very well get a follow-through on Friday that test 19.85-20. If it can get through that, the target is 22 1/2, and ultimately 26.
Harry has posted Charts of the Day video onEGHT at TheTechTrader site noting: 8x8 Inc. (EGHT) continues to act well. The overall structure is a base, a breakout, 3-wave corrective pattern, it made a nominal new low at the trendline, held it, and then exploded on Tuesday 75 cents to 11.08, or 7 1/4%, on 945,000 shares traded, closing just three cents off the high. With 4.2 days to cover it may run up 113/4-12, and if it gets through that, the swing target is 14 1/2-3/4 range.
Harry has posted Charts of the Day video on SGI at TheTechTrader site noting: Silicon Graphics International Corp. (SGI) had a big pop on Tuesday, up 1.50 to 6.24, or 31.5%, on 2.9 million shares. It was a good day trade for our group, particularly at the end of the day when it made a nice move. It broke out of a coil, ran up, pulled back and closed up on the day. The next directive would be to take out 6.65, which could happen as early as Wednesday. Ultimately, this is a stock that can get to 8.00. A thrust like this, with 8.74 days to cover, and 2.9 million shares, it may follow through.
Harry has posted Charts of the Day video on ORBC at TheTechTrader site noting: ORBCOMM, Inc. (ORBC), a swing trade of ours, is acting well, up 19 cents to 7.50, or 2.6%, on 749,000 shares traded on Tuesday. The key to this stock is, looking at the long-term consolidation, two years in the making, it’s acting like it wants to blow through it. It already made it through the June high. It still has the Feb-Mar highs from 2014, which, if taken out, would be a test of the 8.00-8.10 range, which is the short-term target. Long-term it may have a chance at 9.00.
Harry has posted Charts of the Day video on DMRC at TheTechTrader site noting: Digimarc Corporation (DMRC) is doing great. The inverse head-and-shoulders was broken with a breakaway gap and thrust to close at the high end of the range on Tuesday, up 6.84 to 41.78, or 20%, on 257,100 shares traded. It was a nice day trade for us. With 15.32 days to cover, it could easily test the July high at 49.25. Look for a follow-through to get it to 46-47 first.
Harry has posted Charts of the Day video on AMSG at TheTechTrader site noting: AmSurg Corp. (AMSG) dropped another 68 cents to 71.89 on Monday, but at one point it was down 1.50. If it comes down to the bottom of the wedge, still the target is at 67.00, and then 63.00.
Harry has posted Charts of the Day video on SIEN at TheTechTrader site noting: Sientra, Inc. (SIEN) completed a head-and-shoulder pattern, consolidated, moved up, pulled back, closed poorly on Friday, and then on Monday it had an inside day, but a positive one, jumping 1.36 to 7.94, or 21%, on 2.3 million shares. The gap may be tested as early as Tuesday at 8.85. If it gets through that the target is 11 1/2.
Harry has posted Charts of the Day video on NVRO at TheTechTrader site noting: Nevro Corp. (NVRO) popped out of a 4-week flag pattern on Monday, up 3.82 to 68.50, or 5.9%, on 1.1 million shares, but traded as high as 72.51. Look for it to reach the mid to high 80’s.
Harry has posted Charts of the Day video on LMAT at TheTechTrader site noting: LeMaitre Vascular, Inc. (LMAT), which is one of our swing trades, after pulling back to the trendline, 50, and price support, bounced nicely on Monday, up 67 cents to 15.76, or 4.4%, on 219,600 shares traded. In the midst of the morning market it was up, too. That’s not heavy volume, but okay for this stock. Eventually it will get up into the 20 range, but the target is 18 1/2.
Harry has posted Charts of the Day video on UNG at TheTechTrader site noting: United States Natural Gas Fund, LP (UNG), with natural gas being back up again, this stock went from the mid-teens all the way down to under 7.00, but in the last couple weeks, it’s had a run up, pulled back and flagged for four days, and on Thursday it was up again, 40 cents to 8.87, or nearly 5%, on 16 million shares. With 3.2 days to cover, and holding above the 50, if it gets to the 9.11 range it could easily reach 10.00. So, keep your eyes on this one.