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.

Three Stocks Ahead of Earnings

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These three health and technology stocks are seeing technical strength ahead of upcoming earnings.

Evolus, Inc. (EOLS) gained 50 cents to $26.44 on 537,100 shares Wednesday. The performance beauty company said it will release earnings after the close on April 30.  The stock is right on the verge of taking out the declining tops line of its nearly 3-month consolidation that followed its big surge in January and early February.  A move through the March 19 high near $28 could take the stock to next lateral resistance at $30.

Extreme Networks, Inc. (EXTR) rose 29 cents to $8.26 on 2.1 million shares Wednesday, nearly 1 1/2 times its average volume.  The software-driven networking company will announce earnings before market open on May 1. The move popped the stock out of a nearly 2-month resistance line and mini base.  Watch for a test of next resistance at $8.75 just above the February high.

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Pot Stocks Looking Higher

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Marijuana stocks are among our top charts to watch today.

Aurora Cannabis Inc. (ACB) rose 8 cents to $8.96 on 21.3 million shares Wednesday.  Bank of America Merrill Lynch named the company as one of three marijuana stocks to buy. The stock, after sharp year-to-date gains, has been consolidating in recent weeks, but may be on the verge of its next leg up with cannabis stocks in general.  Next target is around $10.50, above its March high.

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Two Biotechs & One Tech Stock to Watch

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Two biotechs and one technology stock top our list of charts to watch with strong technical momentum.

ChemoCentryx, Inc. (CCXI) gained 39 cents to $14.47 on 643,300 shares Wednesday, following through on Tuesday’s gains.  The biopharmaceutical company, which is developing medications for inflammatory and autoimmune diseases and cancer, announced Tuesday it will be presenting at the H.C. Wainwright Global Life Sciences Conference on April 8.  The stock is now up over 40% in the last four weeks since the company released earnings that beat Wall Street expectations, and is now approaching a resistance level and initial target at around $15.  A break through there could lead to $17.

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Running on Earnings

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Here are four stocks to watch with strong price momentum fueled by earnings.  

Denali Therapeutics Inc. (DNLI) jumped $2.17 to $24.37 on 1.19 million shares Wednesday, nearly 3 times its average volume. The move followed Tuesday’s earnings release by the biopharmaceutical company, which is developing treatments for neurodegenerative diseases.  With the move, the stock took out multiple tops, and looks like it could extend further.  Watch next for a test of the February high near $25.75.

Guardant Health, Inc. (GH) exploded for $24.45, or 27.6%, to $94.45 on 3.7 million shares Wednesday, 3 1/2 times its average volume.  The move came as the cancer diagnostics company beat Wall Street expectations in its fourth quarter earnings report.  The stock is extended and could pull back and consolidate, but eventually ride the rising channel up to above $120.

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Momentum Stocks to Watch

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Momentum stocks in marijuana, blockchain and video streaming top our list of charts to watch today.

Canopy Growth Corporation (CGC) jumped $1.08 to $47.88 on 5.8 million shares Tuesday.  The marijuana stock has been coiling very nicely, consolidating its big gains from January, and looks poised to break out again.  A break through the early February high near $52 could move it next to the October highs above $56.

iQIYI, Inc. (IQ) gained 80 cents to $27.46 on 10.3 million shares Tuesday.  The move popped the Chinese video streaming stock out of a wedge it’s been since it gapped up two weeks ago on strong Q4 results.  A break through the recent high at $29.18 could move the stock to the September high near $31 next, followed by the August high near $32.

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