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Charts To Watch: BBBY, IMGN, INMD, KLXE, MCF, PCG, REGI

Published 12/18/2019, 12:34 AM
Updated 07/09/2023, 06:31 AM

  • Bed Bath & Beyond Inc. (NASDAQ:BBBY) exploded on Tuesday, jumping 1.70, or 11%, to 16.88, with a high of 17.15, and trading a hefty 14.1 million shares, the biggest volume in two months. This swing trade continues to act well. After pulling back to test the 50-day and the trendline late Nov, it exploded off of it, backed off to resistance, broke through, consolidated, and then exploded on Tuesday. That was a nice move. It looks like it’s headed higher. Mid-channel target is 18 1/2-19, secondary target is 21-22.

  • ImmunoGen , Inc. (NASDAQ:IMGN) exploded the last two days, coming out of a falling wedge, popping 73 cents, or 19%, to 4.62, with a high of 4.72, on a heavy 14.4 million shares traded. It was a nice breakout day. Now, I’m looking for a move that takes it up to 6.00, and see if it goes beyond that.

  • InMode Ltd . (NASDAQ:INMD), which I issued a new swing on Tuesday, gained 1.38, or 3.3%, to 43.20, with a high of 44.49, on a solid 2 million shares. I’m a believe that wave five is about to start. I need a follow-through though. If it will punch up through 44.49 and take it up three or four points, then mid-term we’re looking at the 57-59 zone. Long-term it may potentially reach low to mid 70’s, maybe even high 80’s eventually.

  • KLX Energy Services Holdings, Inc. (NASDAQ:KLXE) recently dropped from the mid-20’s down to 4.00, had an accelerated climax, a breakaway spike-up, broke out through resistance, followed-through, formed a coil, and on Tuesday, it popped 34 cents, or 5.24%, to 6.73, reaching a high of 6.94, on 492,422 shares traded. I think it’s coming out of this coil, and about to go to the 7 1/2-3/4 zone. Stay tuned.

  • Contango Oil & Gas Company (NYSE:MCF), another junior oil stock, exploded on Tuesday for 53 cents, or 17%, to 3.63, with a high of 3.63, on 528,038 shares traded, and took out resistance. Now, I’m looking for a test of 4.05, followed by about 4.50. Those are my targets.

  • PG&E Corporation (NYSE:PCG) snapped back beautifully on Tuesday, after taking the big dip on Monday, and ran up 1.24, or 13%, to 10.91, with a high of 11.13, on 33 million shares. It formed a nice reversal bar. I’m now looking for a retest of 12, and if it gets some energy, then 13, 14, and 15.

  • Renewable Energy Group, Inc. (NASDAQ:REGI) has absolutely gone bonkers the last two days, going from 17 3/4 to 28 1/2, more than 10 points in just two days. Tuesday, it was up 5.32 of those 10 points, or 27%, to 25.08, reaching a high of 28.44, on 5.2 million shares. It formed a massive breakaway gap. Now, you can see why I gave you a swing on this one. It’s a beautiful chart, and it did make it to my target on Tuesday at the 28-9 zone. The next target is 32-33, if it has momentum, which I think it does.

Stocks on the long side included Acasti Pharma Inc. (ACST), Ardelyx, Inc. (ARDX), Arlo Technologies, Inc. (ARLO), Alphatec Holdings, Inc. (ATEC), Aurinia Pharmaceuticals Inc. (AUPH), Bed Bath & Beyond Inc. (BBBY), Big Lots, Inc. (NYSE:BIG), Coda Octopus Group, Inc. (CODA), InflaRx N.V. (IFRX), ImmunoGen, Inc. (IMGN), InMode Ltd. (INMD), IVERIC bio, Inc. (ISEE), KLX Energy Services Holdings, Inc. (KLXE), Eastman Kodak Company (KODK), Contango Oil & Gas Company (MCF), NantKwest, Inc. (NK), Neoleukin Therapeutics, Inc. (NLTX), Ovid Therapeutics Inc. (OVID), PG&E Corporation (PCG), Provention Bio, Inc. (PRVB), Renewable Energy Group, Inc. (REGI), comScore, Inc. (SCOR), TravelCenters of America LLC (TA), Workhorse Group Inc. (WKHS), and Zogenix, Inc. (ZGNX).

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Latest comments

Inmode taking off again. Just like you said.
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