Stock Charts To Watch - Tuesday, March 31

Akero Therapeutics, Inc. (AKRO) had a big pop premarket Tuesday morning, then came down when the market opened, and consolidated, before finishing up 4.02, or 23.4%, to 21.20, reached a high of 22.39, on 1.6 million shares traded. It did back off from the declining topsline and lateral-price resistance. If it does extend, which I would be watching for on Wednesday, look for a take out the 22.40 range, and then make a move up to 24 1/2. Even 26 1/2 is a potential target if there is follow-through and I think there might be one.

Canadian Natural Resources Limited (CNQ) was definitely a reversal day, taking it from 8.95 to 11.00 on Monday, and then on Tuesday, it had another great day, jumping 2.42, or 22%, to 13.55, with a session high of 13.82, on 23.6 million shares traded, and adding another nickel to 13.60 in after-hours. That was five times the average volume. It really had a nice day. There’s a little bit of resistance coming forward at about 14.40. Targets are 15 3/4 and 18.

Granite Construction Incorporated (GVA) popped 1.62, or 12%, to 15.18, after reaching to a session high of 15.75, on 1.3 million shares traded. On the one-minute chart you can see that it close with a bang. It did really good late in the day, closing near the high. Perhaps there will be a follow-through if it can get over the 15.85 area. If it does, then we could see 17 and 18 1/2.

MagnaChip Semiconductor Corporation (MX), which had a sale of a major division for a bunch of cash on Tuesday, exploded 1.67, or 18%, to 11.05, with an early session high of 12.55, on 2.2 million shares traded, but closed poorly. I will leave that one to see if it consolidates in that zone before it moves up. However, the next target is 13.

SG Blocks, Inc. (SGBX), a provider of onsite point of contact medical care and code-compliant container-based construction, had a monster day on Tuesday, exploding, and then kept running all day, closing up 7.24, or 352%, to 9.30, after reaching a high at 9.78, on 19.6 million shares traded, and then added another 1.56 or 16% in after-hours that took it beyond Tuesday’s high to 10.72. That was 52 times average volume. I believe it had a reverse split that took off. Some resistance was taken out, so it will test about 11 as early as Wednesday morning. Be careful on this one, though, it’s extended.

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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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