Stock Charts To Watch - Tuesday, May 26

Altimmune, Inc. (ALT) exploded on Tuesday. When it broke out of the wedge a week ago, I showed you the pop and said this stock may not be done yet. It went from 3.00 to Tuesday’s multi-week and session high of 10.68, more than tripling, with a gain of 1.47, or 21%, to 8.42, on 36.3 million shares traded. It may need some consolidation, but momentum target is 12.40.

Avis Budget Group, Inc. (CAR) may be benefiting by the Hertz bankruptcy. It went from the V-bottom mid-March, formed a platform, had multiple tests, and on Tuesday, it jumped 1.89, or 11.3%, to 18.61, with a session high of 19.80, on 11.2 million shares traded, and is back up to resistance. A move through 20 and it could be on its way to mid to high 20’s, if not more.

MGM Resorts International (MGM), along with other gaming stocks, moved up 1.75, or 11%, to 17.65, with a late-afternoon session high of 27.97, on 38.8 million shares traded on Tuesday. It’s right at resistance, and with a gap and double-top, it might get up to 21, which is the next immediate target.

U.S. Global Jets ETF (JETS), as airlines are moving, it popped 1.61, or 12%, to 15.31, with a session high of 15.44, on 7 million shares traded, and another 21 cents to 15.52 in after-hours on Tuesday. That’s the first time it got to 15 since the plunge began and on huge volume for this stock. My trading targets are 17 and 18 1/2.

Ovid Therapeutics Inc. (OVID) is on the run. It ran 84 cents, or 14.4%, to 6.69, after reaching a multi-week and session high of 7.21, on 4.3 million shares traded and another 31 cents to 7.00 in after-hours on Tuesday, and is right at the gap and key-resistance level. It may cause a pullback. If it doesn’t pull back and fills the gap, the target is 9 1/2.

Valero Energy Corporation (VLO) is a swing that continues to give. It ran 40 points since the March low around 30. On Tuesday, it gained another 3.02, or 4.6%, to 68.70, with a session high of 70.15, on 4.8 million shares traded. And it doesn’t look done yet. I’m targeting 78-79 going forward.

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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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