The markets had a positive session after starting out sloppy. A lot of stocks we follow did well. We’ve added some new ones. Let’s take a look at a few swing trades here.
Adient plc (ADNT)
Adient (NYSE:ADNT) popped 1.50, or 6.9%, to 23.21, on 2 million shares on Tuesday. I like this chart so much that I’ve been watching it continuously, and I decided on Tuesday, after breaking the falling wedge with some energy and good volume, I would put a swing on it. Now, I’m looking for a move to the 26 range, a gap-fill to 27 1/2, and then a run to 32-33.
AudioCodes Ltd. (AUDC)
AudioCodes (NASDAQ:AUDC) a stock we’ve been following for a couple years, which I put a swing on back in Oct/Nov 2017, has down very well over the last year and a half. On Tuesday, it made a new multi-year high, jumping 1.64, or 10%, to 18.09, on 1.4 million shares, reaching a high of 18.45. That’s the highest level in 20 years. The next target is 25.
IRadimed Corporation (IRMD)
Iradimed (NASDAQ:IRMD) also popped on Tuesday, gaining 75 cents, or 4.08%, to 19.14, on 73,010 shares traded, with a high of 19.40. It got up to resistance. Let’s see if it can get through this level at 26.16. My next target is 28 1/4. If it gets through that, we could see a run to the top of the channel that comes in about 33-33 1/2.
Luckin Coffee Inc. (LK)
Luckin Coffee (NASDAQ:LK) is doing well. It exploded on Monday and had a nice follow-through on Tuesday, running up 1.78, or 8.23%, to 23.40, on 9.4 million shares traded. I’m looking for a run to the all-time high at 25.96 and take it into the high 20’s.
Microbot Medical Inc. (MBOT)
Microbot Medical (NASDAQ:MBOT) had a big pop on Tuesday, moving up 1.67, or 32%, to 6.95, on 232,734 shares traded. That takes it out of a 2-month base but leaves it at resistance. If it can get up through the next target at 8 1/2, which is my near-term target, it could very well fly.
Qudian Inc. (QD)
Qudian Inc (NYSE:QD) held the trendline and moving averages on Tuesday, and then popped 66 cents, or 8.4%, to 8.52, on 6.3 million shares. I’m looking for a move to 9.15 for it to get to 11.00.
Stocks on the long side
Included Achillion Pharmaceuticals, Inc. (ACHN), Adient plc (ADNT), AutoNation, Inc. (NYSE:AN), AudioCodes Ltd. (AUDC), Beyond Meat, Inc. (BYND), Chiasma, Inc. (CHMA), Hasbro, Inc. (NASDAQ:HAS), Iridium Communications Inc. (IRDM), Luckin Coffee Inc. (LK), Microbot Medical Inc. (MBOT), Polaris Industries Inc. (PII), Qudian Inc. (QD), Snap Inc. (NYSE:SNAP), TerraForm Power, Inc. (TERP), and YETI Holdings, Inc. (YETI).