AMC Entertainment Holdings, Inc. (AMC) looks like a swing trade is finally emerging. Thursday, it popped from a low of about 17.20 to 18.45. That was the breakout I was looking for. It jumped up 40 cents, or 2%, and closed at 18.10, right at or around resistance. The volume picked up to 3.8 million. I think it’s about to emerge. Get up into a 20 1/2 – 21 zone for starters, then 25 plus.
Correvio Pharma Corp. (CORV) broke out of its flag type trading range over the last 2 weeks. With a thrust up 52 cents, or 11%, to 5.08, on 350,318 shares on Thursday. Volume picked up a little bit. I think we’re going to see the 6 – 6 1/2 zone.
Renewable Energy Group, Inc. (REGI), one of our old swings, has done very well with a big run up and a 2-month consolidation. We noted the breakout last week, a beautiful wedge, and now it’s accelerating. It popped 65 cents, or 3% on Thursday, to 22.40, on 747,711 shares. At the top of the channel it might pull back, but if it accelerates, this could be mid-20s, 25-26 short term.
Stitch Fix, Inc. (SFIX) swing trade is under way and working well. After breaking out, it’s extended. On Thursday, it was up 1.33, or 4%, to 34.16, on 1.8 million shares. I believe any move across he 35 1/2 range could lead to something near 39. That’s my swing target.
Stocks on the long side included AMC Entertainment Holdings, Inc. (AMC), ArQule, Inc. (ARQL), Correvio Pharma Corp. (CORV), Denali Therapeutics Inc. (DNLI), eHealth, Inc. (EHTH), Inspire Medical Systems, Inc. (INSP), Lifevantage Corporation (LFVN), Allscripts Healthcare Solutions, Inc. (MDRX), PetIQ, Inc. (PETQ), Plurasight, Inc. (PS), Renewable Energy Group, Inc. (REGI), Stitch Fix, Inc. (SFIX), Teladoc Health, Inc. (TDOC), Teva Pharmaceutical Industries Limited (NYSE:TEVA), Tandem Diabetes Care, Inc. (TNDM), Verastem, Inc. (VSTM), and Zscaler, Inc. (ZS).
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