Stock Charts To Watch - Monday, March 23

ADMA Biologics, Inc. (ADMA), in the biotech group, has had three strong days in a row, exploding from 1.50 to 3.50 before backing off, Monday alone gaining 81 cents, or 36%, to 3.06, on a heavy 14.6 million shares traded, and then another 14 cents, or 4.58%, to 3.20 in after-hours. There’s a dividing tops line that it reached and a 50-day moving average right there at the high for the day. If it backs and fills, and sets up a right-angle extended V, this might run up to 4 1/2-3/4.

Coty Inc. (COTY) had a big day on Monday, and the last three days as well, gaining 67 cents, or 15%, to 5.15, with a high of 5.48, on 10.4 million shares traded on Monday. The market is coming down and this stock rallies right back up again. I like the overall look of it, but there’s going to be some resistance at 6 1/4. If it gets through there, the target is 7 1/2.

Inogen, Inc. (INGN) has had a very big pop in the last three days, on Monday taking it up 8.36, or 21%, to 48.36, after reaching a morning high of 50.66, on 877,733 shares traded, and another 1.53, or 3%, to 49.89 in after-hours. It had gotten slammed from nearly 300 in Sept 2019, all the way down 90% to 31.21. In the last three days, it exploded back up to 50. There may be some backing and filling, but it would be the perfect set-up for a move up to 60.

Planet Fitness, Inc. (PLNT) is also coming off the low with a sharp pop of 3.54, or 10.43%, to 37.47, with a high of 38.46, on 3.5 million shares traded. That’s a big volume for this stock. There’s some resistance here, so it might consolidate. But that’s an engulfing-bullish reversal day, so it might make a move to 45 before pulling back.

Red Robin Gourmet Burgers, Inc. (RRGB) came off the low in three explosive days. On Monday, the third of the three days, it was up 2.15, or 33%, to 8.70, with a high of 8.84, on 1.35 million shares traded and another 31 cents, or 3 1/2%, to 9.01 in after-hours. The gap may be tested shortly around 10.40. The secondary target is 14, but I’m not sure if there’s going to be a consolidation.

Zillow Group, Inc. (ZG) also made a massive move off the low, jumping 3.57, or 13 1/2%, to 30.06, after reaching a high of 30.40, on 1.4 million shares traded, and another 1.29, or 4.30%, to 31.35 in after-hours on Monday. In three days, it has gone from 18.65 to over 30. There’s resistance in that zone, but ultimately, I think this might be a 40-dollar stock. It might hold here and/or extend and consolidate.

Stocks on the long side included ACM Research, Inc. (ACMR), ADMA Biologics, Inc. (ADMA), Amneal Pharmaceuticals, Inc. (AMRX), Blue Apron Holdings, Inc. (APRN), Avis Budget Group, Inc. (CAR), Hertz Global Holdings, Inc. (HTZ), Coty Inc. (COTY), Eldorado Resorts, Inc. (ERI), Penn National Gaming, Inc. (PENN), Inogen, Inc. (INGN), Performance Food Group Company (PFGC), Dave & Buster's Entertainment, Inc. (PLAY), Planet Fitness, Inc. (PLNT), Royal Caribbean Cruises Ltd. (RCL), Roku, Inc. (ROKU), Red Robin Gourmet Burgers, Inc. (RRGB), Teladoc Health, Inc. (TDOC), Vapotherm, Inc. (VAPO), Slack Technologies, Inc. (WORK), Zillow Group, Inc. (ZG), and ZOOM Technologies, Inc. (ZOOM).

Disclaimer: Mr. Boxer's commentaries, trading ideas and model trades represent his own opinions and should not be relied upon for purposes of effecting securities transactions or other investing ...

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