Stock Charts To Watch - Wednesday, May 6

Cars.com Inc. (CARS) broke out of a base on Wednesday. It came down from 14 to 3, and change, formed a nice base, popped, failed to go to the 50-day, backed off, and then on Wednesday, it exploded 2.39, or 53%, to 6.91, after reaching a session high of 7.40, on 21.7 million shares traded. That is huge volume on a breakout. I am looking for a run to the 8-9 zone short-term.

Daqo New Energy Corp. (DQ), a Chinese semiconductor stock, exploded out of a big wedge pattern through resistance at 55 1/2, and up 6.60, or 13.5%, to 55.53, with a session high of 56.84, on a light 281,743 shares traded. I think a follow-through will get it to 62, and then 68-69.

LivePerson, Inc. (LPSN), on earnings, exploded 9.43, or 40.3%, to 32.82, with a session high of 33.99, and another 13 cents in after-hours on a huge volume of 10.3 million shares traded, which is unheard of for this stock. This may have set it off to a new up-trend. The gap at resistance at 38 might be the new target.

Overstock.com, Inc. (OSTK) on Wednesday popped 2.15, or 15 1/4%, to 16.25, with a session high of 16.40, on 5.9 million shares traded and extended its beautiful move. It has gone from 2 1/2 to 16 1/4 in two months. There is some resistance at 17. It may run up there on Thursday, but be careful, it is due for a pullback.

Sea Limited (SE) broke out on Tuesday and followed through on Wednesday with a move up of 3.76, or 6.5%, to 61.69, reaching a multi-week and session high of 62.56, on 8.2 million shares traded and an additional increase of 76 cents in after-hours. It has gone from 20 to over 60 in the last 7-8 months, more than tripling. It still looks higher.

Virgin Galactic Holdings, Inc. (SPCE), on earnings, broke out of a flag on Wednesday coming off the bottom of a channel, and popped 1.88, or 11.3%, to 18.50, with a session high of 18.95, on 23.6 million shares traded. I’m looking for a retest of 20 3/4, and then a run to 25.

Stocks on the long side included Adverum Biotechnologies, Inc. (ADVM), Applied DNA Sciences, Inc. (APDN), Beyond Meat, Inc. (BYND), Cars.com Inc. (CARS), Co-Diagnostics, Inc. (CODX), Cytosorbents Corporation (CTSO), VelocityShares 3x Inverse Natural Gas ETN Linked to the S&P GSCI Natural Gas Index ER (DGAZ), Daqo New Energy Corp. (DQ), Dynavax Technologies Corporation (DVAX), Enphase Energy, Inc. (ENPH), Horizon Therapeutics Public Limited Company (HZNP), Kala Pharmaceuticals, Inc. (KALA), LivePerson, Inc. (LPSN), Livongo Health, Inc. (LVGO), Medigus Ltd. (MDGS), MacroGenics, Inc. (MGNX), OneSpan Inc. (OSPN), Overstock.com, Inc. (OSTK), OraSure Technologies, Inc. (OSUR), Retractable Technologies, Inc. (RVP), Sea Limited (SE), Virgin Galactic Holdings, Inc. (SPCE), TG Therapeutics, Inc. (TGTX), Twist Bioscience Corporation (TWST), Vapotherm, Inc. (VAPO), Meridian Bioscience, Inc. (VIVO), and Wayfair Inc. (W).

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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