Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

6 Stocks To Watch: Avis, Essent, Gap, Macy's, NantKwest, Penn National Gaming

Published 05/27/2020, 11:56 PM
Updated 07/09/2023, 06:31 AM

1. Avis Budget Group

Avid Budget Group (NASDAQ:CAR) broke out on Wednesday, and jumped 3.36, or 18%, to 21.97, after reaching a session high of 22.10, and then another 18 cents to 22.15 in after-hours. It came out of a base pattern with a thrust on 13.3 million shares traded. That was a good move and I think this stock is headed to 27 at this point.

2. Essent Group

Essent Group (NYSE:ESNT) broke out of a base on Tuesday, and then followed through on Wednesday with a breakaway gap, taking it up 4.64, or 14%, to 37.42, with a session high of 37.81, on nearly 6 million shares traded. I wouldn’t be shocked to see a quick move to 38 1/2-39, and then 42 1/2.

3. The Gap

The Gap (NYSE:GPS) is running out of a base pattern, with a head and shoulders, then a double right shoulder, and a breakaway gap above a triple-top, gaining 1.64, or 18.4%, to 10.57, and closing just 3 cents off the session high at 10.60, on 21 million shares traded, and then another 18 cents to 10.76 in after-hours. It’s probably going to test 11.35 near-term, and then the secondary target would be upwards of 12 3/4.

4. Macy's

Macy's (NYSE:M), another retail group, probably moved on short covering. It broke out of a coil on Tuesday, gapped, and formed a breakaway run on Wednesday, with a move up of 1.21, or 19.6%, to 7.38, reaching a session high of 7.48, on 96 million shares traded, and then another 49 cents to 7.86 in after-hours. That is big volume for this stock, just short of 99 million shares traded a couple months ago. Nevertheless, this gap may be in play and I’m looking for a run-up to test 8.35.

5. NantKwest

NantKwest (NASDAQ:NK), in the healthcare sector, exploded late in the day, after an explosion midday, it coiled, and broke out again, with a move up of 2.13, or 39%, to 7.58, having reached a session high of 8.34, on 22.2 million shares traded. This is a stock to watch because I think, it will get a follow-through. Th spike-up from Jan 16 that took us to 9.90 could very well get tested.

6. Penn National Gaming

Penn National Gaming (NASDAQ:PENN), a swing trade of ours, formed a V-bottom mid-May, formed a platform swing trade, and has gone from 10 to 33. On Wednesday, it popped 3.10, or 10 1/2%, to 32.39, with a session high of 32.65, on 25.4 million shares traded. It has had a beautiful run. Any extension here could retest the highs at 39.

Stocks on the long side

Alcoa Corporation (NYSE:AA), Allegheny Technologies Incorporated (NYSE:ATI), Avis Budget Group, Inc. (CAR), Carnival (NYSE:CUK) Corporation (CCL), Coherus BioSciences, Inc. (CHRS), DraftKings Inc. (NASDAQ:DKNG), Essent Group Ltd. (ESNT), Evofem Biosciences, Inc. (NASDAQ:EVFM), The Gap, Inc. (GPS), U.S. Global Jets ETF (JETS), Lumber Liquidators Holdings, Inc. (NYSE:LL), Macy's, Inc. (M), Remark Holdings, Inc. (MARK), Mersana Therapeutics, Inc. (NASDAQ:MRSN), Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL), Nabors Industries Ltd. (NYSE:NBR), Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH), NantKwest, Inc. (NK), Penn National Gaming, Inc. (PENN), Royal Caribbean Cruises Ltd. (NYSE:RCL), Teva Pharmaceutical Industries Limited (NYSE:TEVA), Triumph Group, Inc. (NYSE:TGI), U.S. Concrete, Inc. (USCR).

Watch video here...

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.