Stock Charts To Watch - Tuesday, June 16

Video Length: 00:06:17

Accelerate Diagnostics, Inc. (AXDX) has a pattern I love. A V-bottom, platform, coil, breakout, retest of the trendline that was broken, and then off it goes. If formed an engulfing bar on Monday, and on Tuesday, it ran up 1.19, or 12%, to 11.29, after reaching a session high of 11.45, on 1.1 million shares traded. If it takes out 11.88, it might see a run that takes it all the way up to me mid-teens.

Bed Bath & Beyond Inc. (BBBY) broke out with a price-volume surge and breakaway gap on Tuesday, popping 1.27, or 15%, to 9.64, after making its way up to a session high of 9.78, on 17.6 million shares traded. I’m looking for a retest of the recent highs around the 10.15 zone, and then the target is 12 1/2-3/4.

iQIYI, Inc. (IQ) is looking good. On Tuesday, it made a big breakaway move, jumping 4.95, or 26%, to 24.10, with a session high of 26.45, on 71 million shares traded and another 10 cents in after-hours 24.20. Although it closed a little below mid-range, I’ll look for an extension on this one to test 27. There is some resistance there, but if it can get through that, it might make a run all the way up to the low-to-mid 30’s.

Net Element, Inc. (NETE) exploded for two days and pulled back on a nice reversal on Tuesday morning. But, still, it closed up on the day, gaining 86 cents, or 12 1/2%, to 7.76, after running up to a session high at 9.11, on 7 million shares traded. If it backs and fills, it may move higher. If it does, targets are 10-10 1/2, and then 13 1/2-14.

Wah Fu Education Group Limited (WAFU) popped, and then pulled back for a couple day, and on Tuesday, it went right back up, jumping 2.86, or 60.3%, to 7.60, with a session high of 8.70, on a solid 8.1 million shares traded. I would look for more upside to test the 11 and 15 range at some point.

United States Steel Corporation (X) had a nice trading day on Tuesday, advancing 95 cents, or 10%, to 10.47, with a morning session high of 10.70, on 18 million shares traded. It also popped with a breakaway gap, leaving a few-day island, reversal cluster. Target is near resistance at 11. If it gets through that, secondary target is 12 1/2.

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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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