ABEO: After running up to over $10.00 in July the stock has been in an orderly decling channel finding support at around $7.00. Last week it broke to the upside from that channel, ran up to resistance at $9.00 and then back tested back to support at the channel line. Today it popped up trading as high as $8.95 closing at $8.70. If it can get through resistance at $9.00 then my price target is $10.50 and $11.50. Short ratio, 7.3 days to cover.
ARRY: Back in February the stock had a nice move up to $13.50 and then pulled back. Since April it has been forming a basing pattern with resistance in around $9.00 Today, it broke through that lateral resistance and traded up as high as $10.00 before closing at $9.54. It needs to get through the $10.30 area with $12.00 and $13.50 as price targets. Short ratio, 8.6 days to cover.
FENG: Chinese stocks have been trading well the past few weeks and this stock is no exception. After popping out of its base last week it is now in a short term up trending channel. Today it traded as high as $5.25 before closing at $4.92. If this momentum can continue then $6.00 is the price target.
IMMU: Stock is in a strong up trending channel making an orderly pull back from its recent high of $9.50. The last 5 days it has been straight up trading as high as $9.81 before closing at $9.72. If this momentum can continue I would have price targets of $11.00 and $15.00. Short ratio, 19.3 days to cover so should add to the momentum of the trade.
TSEM: This semiconductor stock made a new high today at $28.30 before closing at $28.07. It is mid channel of a strong up trending channel. A trade over today's high and my price target is $32.00 and $35.00.
VERI: New IPO back in May in the AI space. After falling in a declining channel to $8.00 the stock has rocketed back up in 3 days trading as high as $13.52 closing at $13.49. There is resistance at $14.00 and $15.00. Above that it is wide open space. Short ratio 6.6 days to cover.
AFAM: After gapping down from $55.50 to $44.40 the stock has been forming a bear wedge. Today it broke to the down side of that wedge near the apex. If markets are soft tomorrow this stock could drop quickly. Price targets of $44.50 and $39.00.
CATM: Stock continues to decline non stop and looks to go lower. Price target $22.50.
GKOS: Stock has been forming bear flag after bear flag and today is no exception. It broke below the trend line of the bear flag/wedge through support at $37.00. I would look to go short on any pops back to $37.00 or below today's low of $35.48. Price target $34.00 and $30.00. Short ratio, 11.9 days to cover.
PCMI: I gave this short trade back in July when it was forming the bear wedge at $19.00 It drop sharply at the end of July to a low of $11.70ish. Since then it has been flagging sideways. If this is the best of a bounce it can do, this stock is headed much lower. It looks like it is forming wave 4 of a 5 wave pattern and a break below $11.68 and this stock is headed (in wave 5) to $10.00 and then $9.00 (but most likely $7.00).
VRTV: Stock recently dropped sharply from $39.00 range to $30.00. Since then the best it can do is form a descending flag pattern. Today a triple bottom was taken out and it traded into all new low territory. Watch for a good entry level to go short as this stock is headed for $23.50 and $20.00. Short ratio, 4 days to cover.
Thank you for the time you put into these amazing watch lists, Bob!
My pleasure
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