Slope of Hope Blog Posts

Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.

Four Movers to Watch

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Here are four stocks with strong technical momentum moving higher on news.

Aphria Inc. (APHA) gained 44 cents to $10.15 Wednesday on 7.8 million shares.  Last Friday the Canadian cannabis producer said a probe of acquisitions in Latin America found certain board members had conflicts, but that the price paid was comparable to rival deals.  The stock, which had pulled back from resistance at the top of its rising channel, has since bounced off the channel bottom towards a retest of its early February high. A move through that high near $11 could accelerate the stock towards $14.

Everbridge, Inc. (EVBG) rallied $3.69 to $67.95 on Wednesday on 1.4 million shares, more than triple its average volume.  The software developer reported better-than-expected quarterly financial results on Tuesday.  The stock got as high as $71.61 intraday.  The long-term chart shows the top of the channel extends to the low-$80’s. (more…)

The WSJ Reversal

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Back in mid-December, as I was thumbing through the Sunday Wall Street Journal at a fencing tournament, I read a lengthy, in-depth analysis of General Electric. It was quite a damning piece, and it was long enough to be a novella. I tweeted out this image from the paper, since I found it funny that GE had paid for an advertisement that the WSJ decided to put right next to this corporate tear-down:

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Two Longs, Two Shorts

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Here are two stocks moving higher on news and two others showing weakening technicals.

American Superconductor Corporation (AMSC) jumped 66 cents to $14.54 Thursday on 604,100 shares, or double its average volume.  The wind turbine component maker beat Wall Street expectations in its earnings release on Tuesday.  The stock has been in a steeply rising channel since its late-October low under $6, and the channel top points to $19.

Evolus, Inc. (EOLS) popped $4.85 to $28.91 on 4.8 million shares Thursday. Shares in the provider of medical aesthetic products have rallied since the company received FDA approval a week ago for its treatment of frown lines.  The stock is right at resistance from its late August high, and a move through this level could get it to $34 next.

On the short side, Carvana Co. (CVNA), which dropped 39 cents to $33.02 on Thursday, has broken down from an ascending wedge within a declining channel off its September top.  There’s support at around $29 for the stock in the company, which operates an e-commerce platform for buying used cars. If that level doesn’t hold, then the stock could fall to next support at around $24-$25.

Medifast, Inc. (MED), which gave back 19 cents to $127.07 on Thursday, has been declining since September in a series of ascending wedges that have failed.  Stock in the healthy-living specialty retailer is currently in another ascending wedge near the top of its declining channel, which if it fails could pullback to test the $108 area.  The stop would be near last week’s high just under $132.