Stock Charts To Watch - Thursday, September 3

Five Below, Inc. (FIVE) had a spectacular session on Thursday, exploding 10.80, or 8.6%, to 127.16, and at one point, reached all the way up to 129.50, on 3.9 million shares traded. Once more, it had a breakout of an ascending bull coil and exploded into the resistance zone. I suspect we may see some further upside if things go well and the market doesn’t completely fall apart. For now, though, it appears to be on its way to the next leg up.

Garrett Motion Inc. (GTX) got crushed lately, but reversed on Thursday, and moved up 97 cents, or 36%, to 3.67, with a session high of 3.82, on a monster volume of 16.5 million shares traded. I’ve never seen that kind of volume on this stock, except for IPO day. Now, with resistance ahead, that would be the potential target at the gap from the prior low at about 4 1/2. That’s my target going forward. Let’s see if it can get it up there.

Macy's, Inc. (M) had a big day on Thursday as well. It was a solid session, and although it did break out and back off, it finished up 56 cents, or 8%, to 7.61, with a session high of 7.98, on a whopping 81 million shares traded. That’s huge for this stock. It’s coming up to resistance, but additional overhead resistance is just ahead at 8 1/2-3/4. Should it get through there, my target is going to be 10 1/2.

SmileDirectClub, Inc. (SDC) popped on Wednesday, followed through on Thursday, but it did pull back with the market. It closed up 47 cents, or 4.8%, to 10.27, with a session high of 10.92, on 19.3 million shares traded. I wanted to show you that it took out a triple top. If it does advance further, I will have to give you targets around 12 and 15.

Sutro Biopharma, Inc. (STRO) also popped on Wednesday and followed through on Thursday, jumping 1.73, or 15.4%, to 13.00, with a session high of 13.85, on 2.6 million shares traded. That’s a big volume for that stock. If it breaks out over multiple tops, there’s additional resistance overhead just under 15, which is my near-term target going forward.

On the long side, stocks included Applied Genetic Technologies Corporation (AGTC), Five Below, Inc. (FIVE), Garrett Motion Inc. (GTX), Kensington Capital Acquisition Corp. (KCAC), Direxion Daily S&P Biotech Bear 3X Shares (LABD), Macy's, Inc. (M), SmileDirectClub, Inc. (SDC), ProShares UltraPro Short S&P500 (SPXU), ProShares UltraPro Short QQQ (SQQQ), Sutro Biopharma, Inc. (STRO), TRACON Pharmaceuticals, Inc. (TCON), ProShares Ultra VIX Short-Term Futures ETF (UVXY), and VivoPower International PLC (VVPR).

Stocks on the short side include Arvinas, Inc. (ARVN), BlackLine, Inc. (BL), GenMark Diagnostics, Inc. (GNMK), GSX Techedu Inc. (GSX), iRobot Corporation (IRBT), and The Children's Place, Inc. (PLCE).

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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