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4 Charts To Watch Today: NK, OLED, SEDG, WTW

Published 12/30/2015, 11:18 PM
Updated 07/09/2023, 06:31 AM

It wasn’t a good day on Wednesday. It opened lower, consolidated, went down most of the day, and finished at the low for the day going away. We have a lot of stocks that we follow that are still acting well. Let’s take a look at some of them.

NantKwest (O:NK) may have broken out on Wednesday, up 1.29 to 1852, or 7.49%, on a little more than half a million shares. That was the best volume in about seven sessions. It has multiple tops, the OBV has been rising steadily, and It did pop across a line of resistance, which now gives a target of 21, 23, and then 20 at the top of the channel.

Universal Display (O:OLED) ran up to the first resistance level recently and backed off in a falling wedge. Now it’s broken out again on Wednesday, up 3.66 to 56.02, or 7%, on 1.6 million shares. That was very nice action as it popped above resistance. Right now the key level is 57.93 and Wednesday’s high was 57.20. Looking back, this stock has a major, multi-year base that could support a move to the 80, 90, 100 range on an intermediate- to long-term basis. For now, it has run up two waves, so we’ll be looking for three, four, and five waves up, which could eventually take it to the 75 zone. The short-term target is 64.

SolarEdge Technologies Inc (O:SEDG) has been doing really well, and on Wednesday, it jumped 1.10 to 28.63, or 4%, on 1.5 million shares. Since Nov it has gone from 15 to a high on Wednesday at 29.50, nearly doubling. The target going forward is 34. It has 4.8 days to cover.

Weight Watchers International Inc (N:WTW) is doing really well with Oprah on the air advertising its products, especially this time of the year. On Wednesday, it was up another 3.68 to 23.05, or 19%, on 19.3 million shares. It looks like it going to come back up and test the 27 1/2-28 zone. If it gets through that there will be a big move on this stock. It has 5 days to cover.

Other stocks on the long side included Achillion Pharmaceuticals Inc (O:ACHN), Akebia Ther (O:AKBA), Cempra Inc (O:CEMP), NantKwest, Inc. (NK), ProShares UltraShort Bloomberg Crude Oil (N:SCO), Solar3D, Inc. (O:SLTD), Vital Thera (O:VTL), and Vuzix Corp Cmn Stk (O:VUZI).

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