Harry has posted Charts of the Day video on NUGT at TheTechTrader site noting: The Direxion Daily Gold Miners Bull 3X ETF (NUGT) had another spectacular move on Thursday, up 8.41 to 54.72, or 18%, on 12.5 million shares. There’s resistance at the next target at 69-70, and then 85-87. Look for it to get to the low to mid 60’s on Friday.
Harry has posted Charts of the Day video on ANF at TheTechTrader site noting: Abercrombie & Fitch Co. (ANF), one of our swing trades, earlier this year pulled back in a 3-wave corrective move right to the breakout point. The move in the last. week is almost vertical from 23 1/2 to 26.81. OBV is making steady progress. It has four waves up. The fifth wave should take it to the 33-34 zone.
Harry has posted Charts of the Day video on RGLS at TheTechTrader site noting: Regulus Therapeutics Inc. (RGLS) had a fantastic day on Wednesday. It popped 1.21 to 7.49, or 19%, on 10.6 million shares. This stock had a big run up a year ago, and that one-day pop extended nicely. Today’s pop may extend as well. Look for it to make a run at 10 1/2, and then near 12.
Harry has posted Charts of the Day video on SWFT at TheTechTrader site noting Swift Transportation Company (SWFT) continues to form in a steady wedge that looks intriguing. After the recent breakout, and the moving averagescrossing over, it’s consolidating nicely. On Wednesday, it was up 15 cents to 17.43, on 2.1 million shares. Look for it to run up to 20 1/2-3/4, followed by 24-24 1/2.
Harry has posted Charts of the Day video on OCUL at TheTechTrader site noting: Ocular Therapeutix, Inc. (OCUL) broke out with an explosive move on Wednesday on 5.6 million shares, which is historic volume for this stock. It jumped 2.41 to 8.67, or 38 1/2%. This stock has come from the 40’s down to the 5.00 range, and after almost a year it broke out with a breakaway gap. It did pull back, break through the declining topsline, above the 50, and above the gap. Watch this one going forward, because if it doesn’t make the move up, it could slip back to below 8.00, or slip into the gap and have a deeper retest, perhaps down toward the prior high at 7.35. I like this for a move up to 11, and then 14.
Harry has posted Charts of the Day video on FN at TheTechTrader site noting: Fabrinet (FN) has a really nice chart. It had a breakaway gap about two weeks ago, it pulled down gently over a five-day period, the volume got quiet, and in the last three days it moved up again, holding the gap support. It broke out above the prior high at 29.68, and on Wednesday, it reached a high of 29.90, closing up 63 cents to 28.08, or 2%, on 441,700 shares traded. Volume was good, but not great. Look for it to run up to 331/2, roughly, on a swing trade.
Harry has posted Charts of the Day video on OME at TheTechTrader site noting: Omega Protein Corporation (OME), which we put a swing trade on Tuesday, because I like the overall structure; left shoulder-head-right shoulder, which is the neckline zone. If it gets moving at all, look for a test of 25, and then 28 going forward. It was up 1.26 to 22.83, or 5.8%, on nearly 500,000 shares traded. It has 2.53 days to cover.
Harry has posted Charts of the Day video on FN at TheTechTrader site noting: Fabrinet (FN) is one of the Top 20 picks for this week and is acting great. It popped, pulled back, is holding the gap nicely, and snapped back. If it can get above the 29.58 area, the target is 33.
Harry has posted Charts of the Day video on CREE at TheTechTrader site noting: Cree, Inc. (CREE) has been acting well. The pattern shows a pop, a wedge, a pop, a pullback retest, and then the breakout on Tuesday, up another 1.39 to 30.67, or almost 5%, on 1.6 million shares. Both the volume and OBV look strong. It looks like it’s going to test the 31 3/4 zone, maybe as early as Wednesday, but the swing target on it is 36 followed by 40.
Harry has posted Charts of the Day video on CRAY at TheTechTrader site noting: Cray Inc. (CRAY) had an amazing day on Tuesday, up 6.61 to 40.24, or nearly 20%, on 2.4 million shares. It looks like we could see this stock move. Perhaps, longer-term, it could take out an entire range from 2014 to present, and move into the 50’s. Keep your eye on this stock on Wednesday to see if there’s a follow-through, possibly a day trade.
Harry has posted Charts of the Day video on CTL at TheTechTrader site noting: CenturyLink, Inc. (CTL) had a big day on Thursday. This is a stock that was in the mid 40’s, came all the way down to 22 in a very nice, orderly falling channel, formed a little left shoulder-head-right shoulder, and then it spiked up on Thursday, up 2.70 to 27.29, on 15 million shares, the biggest volume on an up day ever. It could portend that Thursday was a key breakout as it broke its major declining topsline, 50-day moving average, and created an inverse head-and-shoulder neckline. The move from the low at the bottom of the inverse head-and-shoulder neckline to resistance could get this stock up to the 31-2 range short-term. That’s the target on this one.
Harry has posted Charts of the Day video on UVXY at TheTechTrader site noting: The ProShares Ultra VIX Short-Term Futures (UVXY) has a similar pattern to UVXY, very choppy, indeed. This stock is already up in the resistance zone. It was up a whopping 6.26 to 58.04, 12%, on 40 million shares. The target on this one is in the low 70’s, maybe 71-2.
Harry has posted Charts of the Day video on SYMBOL NUGT at TheTechTrader site noting: The Direxion Daily Gold Miners Bull 3X ETF (NUGT) has been having an incredible ride. It was at 17 mid Jan, and on Thursday, less than a month, it is at 54.80. It had a target here and reached it. There’s a little bit of resistance up at 58.80. That could happen on Friday. But anything up in the high 50’s, I’m going to pull back on. It needs a set-up consolidation, and if it gets a major, 5-wave long-term, move down, this could be leg one. Let’s look for two, and set up for three, four, and five.
Harry has posted Charts of the Day video on JNUG at TheTechTrader site noting: The Direxion Daily Jr Gold Miners Bull 3X ETF (JNUG) has gone from 21 1/2 to 57 on Thursday in less than a month. Resistance and a target are up in the low 60's at 62,3,4, maybe even 65, if there is any kind of extension. That would be a good place to take profits.
Harry has posted Charts of the Day video on TVIX at TheTechTrader site noting: The VelocityShares Daily 2x VIX ST ETN (TVIX) had a big spike up on Thursday, and had a solid close at the highs for Sept, up 1.40 to 12.74, or 12.4%. A spike up to 14 may be tested short-term. Even as high as 15 1/2-3/4. Getting up in that zone this stock has to be extended. The angle of ascent shows the possibility that if this really rips, it could see 16 or 17. I wouldn’t get too carried away yet, though.
Harry has posted Charts of the Day video on AFOP at TheTechTrader site noting: Alliance Fiber Optic Products Inc. (AFOP), after 5-waves down ran up and formed a bear flag, and it’s right at resistance. On Wednesday, it was up six cents to 14.33. I think it’s the longest trade on the short side. If it’s not going to work, it will run up past 15 where it can be stopped, and test the 16 1/4 level. Then it’s broken the declining topsline. But if it fails here, and starts to roll over, keep an eye on it. I’m looking for this stock to maybe make a substantial move lower that gets it down toward 11.00.
Harry has posted Charts of the Day video on SWFT at TheTechTrader site noting: Swift Transportation Company (SWFT) is looking well. It has a right shoulder-head-left shoulder forming, and I may be early on this. It had a reversal downward on Wednesday, taking it down seven cents to 17.19, after being up all day. Look for it to reverse and run up to 20 1/2, and then 24.
Harry has posted Charts of the Day video on AKAM at TheTechTrader site noting: Akamai Technologies, Inc. (AKAM), which has been in a terrible down trend, was a Boxer Short for a while, but on Wednesday, it reversed huge, jumping 8.39 to 47.96, or 21%, on 14.3 million shares. That’s huge volume for this stock. Sometimes when there’s a breakaway gap above moving averages, you get the feeling that it’s the beginning of a big move. It closed at the upper end of the range, not at the top of the range. It still looks like it will reach higher levels going forward in the mid 50’s. Keep an eye on this one.
Lumentum Holdings I
Harry has posted Charts of the Day video on PZZA at TheTechTrader site noting: Papa John's International Inc. (PZZA) lost another 85 cents to 46.44, or 1.8%, on 700,000 shares traded. This has been a good stock for us on the short side. I gave a short on this stock at the 57-8 range. It dropped down to the low 40’s to 44, and it’s sliding and looking a lot lower.
If it doesn’t hold at the next support level, I could see this being a high 30’s stock.
Harry has posted Charts of the Day video on SWFT at TheTechTrader site noting: Swift Transportation Company (SWFT) had a pretty good day on Tuesday, up 69 cents to 17.26, or 4%, on 3.9 million shares. The transportation sector, trucking, railroads, airlines, etc, are really picking it up, and could lead the market higher. Swift has gone from 11 3/4 up into the 16-17 zone and consolidated. If it gets through the 17 3/4 range, it should see 20 1/2-21, and maybe as high as 24-5. Those ar