Excellent day on Wall Street. It has almost retraced all of the sharp correction 3 days ago. But the indices are now back at resistance. So it will be interesting to see what happens tomorrow as it approaches the old high.
CAMT: Stock has been in a slowly rising channel since last February 2016 and recently gapped up over the $4.00 resistance level. Today it was up strongly breaking through both the upper channel line and lateral resistance at $5.00. The stock traded as high as $5.53 before closing at $5.46. Stock is now at a multi-year high. I would look to go long over $5.53 with $6.50 and then $8.00 as targets.
CARA: Stock is building a nice chart pattern in here. It double topped at lateral resistance today of $17.80 and closing at $17.59. I would look to go long above $17.80 with $19.00 and $21.00 as price targets.
COOL: Stock has a habit of multi day runs when it gets going. Last Friday it popped through lateral resistance at $13.00 and traded today as high as $17.03 before closing at $16.78. Its last spike high was nearly $19.00. So if it trades over today's high then I would expect it to test the $19.00 top and then $21.00.
FOLD: Stock broke out through lateral resistance today trading as high as $8.43 closing at $8.41. I would look to go long this stock over today's high with $9.50 as my target. Short ratio, 22 days to cover so it could add a lot of momentum to the trade.
NVMI: Stock has been on a tear of late when I wrote about it at around $22.00. It traded up to $26.30 today closing at $26.04. The high today was a double top. If it can get through that level then this stock is headed to $30.00
SORL: Stock has been super strong the last week and today was no exception. Stock broke through lateral resistance at $8.00 today trading as high as (.50 before closing at $8.74. It seems to be quite extended now. But if it breaks through today's high then $12.50 is the price target.
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Thanks again Bob, good news as I am long o/n on $SORL hoping for a further run up tomorrow! Always appreciate your watch lists and posted videos and trades. Good luck tomorrow!
Bob, do you think CAMT can run to your PT in 1 day, or do you usually swing this slower movers? Thank you.
SWING TARGETS
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