Stock Watch for October 14, 2019

TK could be breaking out from a bottoming pattern after almost a year of consolidation. It currently stands at the neckline of the said formation where it could be experiencing significant selling pressure. However, a successful break above the 4.83-5.00 area of resistance could drive the stocks to the next hurdle at the 6.00-6.20 level. Moreover, in an event of a slip, the immediate support could be 4.50 then 4.00 after that.

DYAI could be forming a smooth triangle chart pattern. By the looks of it, a breakout from this formation could swing the stocks in an attempt to clear out the 7.30 high. A successful breach of the 7.30 marker could bring the stocks to the next price target of 8.00. On the other hand, 6.00 could be the immediate stronghold and if that breaks, 5.76 could be next.

MGU could also be forming a triangle with 24.30-24.51 being the area of resistance. If that range gets taken out, the next blockade could be around 26.00. On the contrary, 23.26 could be the next base then 22.61 after that.

HOV has been moving constantly in an ascending channel for over a month now with several setups at hand. It could be building up some momentum to try and take out the recent high of 23.83. If successful, the next hurdle could be the 25.00 marker. On the downside, the immediate support could 21.22. If that doesn't hold, the next could be 20.00 or the uptrend line.  

Like HOV, PXS has also been moving in an ascending channel for around a month now. The price could continue to climb as long as the channel remains intact. However, if you take notice of the 1-year chart, there could be some heavy selling pressure at the 1.74-1.90 area of resistance on the way up. If that level gets cleared out, there could be another decent run up for PXS. On the flip side, if the stocks breakdown from the channel, the immediate support could be 1.50.