Cara Therapeutics (NASDAQ:CARA)), one of our old favorites, needs to ramp up again. You can see the base pattern, the wedge, a breakaway gap, another wedge, a big wedge, a breakout, of late we’ve seen a little bit of a consolidation, and then on Thursday it popped 59 cents, or 3%, to 21.44, on 1.1 million shares. It can probably get up to 24, and then 28.
- Etsy (NASDAQ:ETSY) formed a triple top, and then a semi-wedge if it breaks out. It was up 1.38, or 3%, to 50.55, on 3 million shares on Thursday. This stock could be a 59-60 dollar stock pretty quickly, and a short-term swing as well.
- iQIYI (NASDAQ:IQ) came down in a 3-wave corrective, and then popped 1.70, or 6%, to 30.29, on 20 million shares on wave 4. Wave 5 was truncated, and is right-handed extended. Look for it to get to 32 1/2. If it gets through that, the near-term target is 38.
- Tilray (NASDAQ:TLRY) is an amazing chart. It has gone from the 22-range all the way up to 127 on Thursday, closing up 14.81, or 14%, to 119.76, on 21 million shares. Did it reach the top? I can’t say for sure until it breaks down to 98. That would confirm it. Any move under 98 is a stopping point. If it continues to ramp up, I’m looking for about 150. I don’t believe it’s going there, but remember what they say, “the trend is your friend.”