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6 Stock Charts to Watch: ALT, CAR, MGM, JETS, OVID, VLO

Published 05/26/2020, 11:35 PM
Updated 07/09/2023, 06:31 AM
SPY
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BLDP
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MGM
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DRI
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ATI
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APA
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VLO
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NBR
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DAL
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UAL
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CUK
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ALT
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MAXR
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CAR
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RCL
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NCLH
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VFF
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SRNE
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ERI
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EVFM
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WEED
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OVID
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MRSN
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TLRY
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DOOO
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ZYXI
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DKNG
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1. Altimmune (NASDAQ:ALT) exploded on Tuesday. When it broke out of the wedge a week ago, I showed you the pop and said this stock may not be done yet. It went from 3.00 to Tuesday’s multi-week and session high of 10.68, more than tripling, with a gain of 1.47, or 21%, to 8.42, on 36.3 million shares traded. It may need some consolidation, but momentum target is 12.40.

2. Avis Budget Group (NASDAQ:CAR) may be benefiting by the Hertz bankruptcy. It went from the V-bottom mid-March, formed a platform, had multiple tests, and on Tuesday, it jumped 1.89, or 11.3%, to 18.61, with a session high of 19.80, on 11.2 million shares traded, and is back up to resistance. A move through 20 and it could be on its way to mid to high 20’s, if not more.

3. MGM Resorts International (NYSE:MGM), along with other gaming stocks, moved up 1.75, or 11%, to 17.65, with a late-afternoon session high of 27.97, on 38.8 million shares traded on Tuesday. It’s right at resistance, and with a gap and double-top, it might get up to 21, which is the next immediate target.

4. U.S. Global Jets ETF (JETS), as airlines are moving, it popped 1.61, or 12%, to 15.31, with a session high of 15.44, on 7 million shares traded, and another 21 cents to 15.52 in after-hours on Tuesday. That’s the first time it got to 15 since the plunge began and on huge volume for this stock. My trading targets are 17 and 18 1/2.

5. Ovid Therapeutics Inc. (NASDAQ:OVID) is on the run. It ran 84 cents, or 14.4%, to 6.69, after reaching a multi-week and session high of 7.21, on 4.3 million shares traded and another 31 cents to 7.00 in after-hours on Tuesday, and is right at the gap and key-resistance level. It may cause a pullback. If it doesn’t pull back and fills the gap, the target is 9 1/2.

6. Valero Energy Corporation (NYSE:VLO) is a swing that continues to give. It ran 40 points since the March low around 30. On Tuesday, it gained another 3.02, or 4.6%, to 68.70, with a session high of 70.15, on 4.8 million shares traded. And it doesn’t look done yet. I’m targeting 78-79 going forward.

Stocks on the long side

Altimmune, Inc. (ALT), Apache Corporation (NYSE:APA), Allegheny Technologies Incorporated (NYSE:ATI), AVEO Pharmaceuticals, Inc. (AVEO), Ballard Power Systems Inc. (NASDAQ:BLDP), Avis Budget Group, Inc. (CAR), Carnival (NYSE:CUK) Corporation (CCL), Canopy Growth Corporation (NYSE:CGC), Delta Air Lines, Inc. (NYSE:DAL), DraftKings Inc. (NASDAQ:DKNG), BRP Inc. (NASDAQ:DOOO), Darden Restaurants, Inc. (NYSE:DRI), Eldorado Resorts, Inc. (NASDAQ:ERI), Evofem Biosciences, Inc. (NASDAQ:EVFM), Direxion Daily S&P (NYSE:SPY) Oil & Gas Exp. & Prod. Bull 2X Shares (GUSH), U.S. Global Jets ETF (JETS), Remark Holdings, Inc. (MARK), Maxar Technologies Inc. (NYSE:MAXR), MGM Resorts International (MGM), Mersana Therapeutics, Inc. (NASDAQ:MRSN), Nabors Industries Ltd. (NYSE:NBR), Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH), Ovid Therapeutics Inc. (OVID), Royal Caribbean Cruises Ltd. (NYSE:RCL), Renren Inc. (RENN), Sorrento Therapeutics, Inc. (NASDAQ:SRNE), Tilray, Inc. (NASDAQ:TLRY), United Airlines Holdings, Inc. (NASDAQ:UAL), U.S. Concrete, Inc. (USCR), Village Farms International, Inc. (NASDAQ:VFF), Valero Energy Corporation (VLO), an Zynex, Inc. (NASDAQ:ZYXI).

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