Funny day in the markets today with the Nasdaq strong most of the day yet the Dow off 250 points. It was difficult to trade that is for sure but we did nail a nice short out the gate this morning on ACHV.
CRNT: Stock is in a steeply rising channel and today broke through and closed above lateral resistance at $2.75. If this momentum continues and the stock can get through $2.95 we should see $3.50 and maybe $4.25.
DRNA: A stock I wrote about last night for the break over $11.00 with $12.00 as the target. It did trade to $12.01 and closed at $11.82. I would look to go long over $12.01 with $14.00 and $17.00 as the price targets. Short ratio, 3.6 days to cover.
HTGM: Stock made a nominal new high today yet pulled back and closed only $.07 up on the day. It was a disappointing trade for me as I thought it would go on the break out. But it is flagging in here and over today's high we could see the stock to $7.50. Short ratio 3.8 days to cover.
ROKU: After breaking the descending tops line a few weeks ago the stock is moving off its base. Today it traded up to lateral resistance at $51.75 and closed at $51.18. Through $51.75 and this stock is on its way to $59.00.
TDOC: After 6 months of consolidation the stock broke through a multi top resistance level trading up to $39.40 before closing at $37.75. I like this stock as a swing trade in this area with a price target of $45.00. Short ratio, 17.2 days to cover.
VKTX: Stock is right at the apex of a coil and was up $.26 today closing at $6.44. There is momentum for this stock and I think it resolves to the upside. It needs to get through $7.00 and then $8.00 and $10.00 are my targets.
VYGR: Big pop today as stock broke through two levels of resistance at $20.00 and the $23.50 closing at $23.66. I'll be watching for a trade over $24.85 with price targets of $26.00 and $30.00.
ZN: Though I think this play is purely a pump and dump type play, the stock is forming a bull flag in here after its big pop from the low $2.00 range. If the promoters get this going and it trades over $5.00 they could get it to $7.00. Short ratio 3.2 days to cover.
GES: Stock dropped sharply from high $19s down to $14.18. It has had a weak bounce and formed a bear wedge. Today it broke to the down side of that wedge trading a slow as $14.39 before closing at $14.58. If this breaks below $14.18 my price target is $12.00 and then $10.00. Short ratio, 6.1 days to cover.
SNHY: After getting crushed from over $70 the stock traded down to $50.00 and then formed a bear wedge. It looks like ti failed today and broke out of that wedge formation closing near the low for the day at $54.14. I would look to short it in this area with $50.00 and $45.00 as price targets. Short ratio 8.4 days to cover.