What To Watch For In Last Week's Biggest Gainers: Vinco Ventures, Waitr Stocks And More

Last week the five biggest stock market gainers made huge moves ranging between 54% and 79%. Below is a look at each stock and what they may have in the cards going forward.

Xiaobai Maimai HX soared up 79.33% higher between Oct. 11 and Oct. 15, to a 52-week high of $6.54. On Monday the stock was trading a bit higher while entering into a consolidation phase on lower timeframes.

Xiaobai’s relative strength index (RSI) is registering in at about 94%, which puts it well into overbought territory. When a stock’s RSI reaches or exceeds the 70% mark it can be a sell signal for technical traders.

Xiaobai may work to set up a bull flag on the daily chart, with the pole created between Oct. 11 and Friday and the flag possibly beginning on Monday. Monday’s action has also set Xiaobai into an inside bar pattern on the daily chart. In this case, the pattern is considered bullish because the stock was trading in an uptrend prior to the creation of the pattern.

• Bulls want to see continued consolidation on decreasing volume to cool the stock’s RSI and give Xiaobai the strength to make a move higher. Xiaobai has resistance above at $6.60 and $735.
• Bears want to see increasing big bearish volume drop the stock down below the $5.70 mark. Below the area, Xiaobai has support at $4.20.

Waitr Holdings, Inc WTRH gained 70.39% last week after gapping up over a descending trendline that had been holding the stock in a downtrend since Feb. 22. On Monday Waitr broke through Friday’s high-of-day but has, so far, failed to gather enough momentum for follow-through on the move.

The stock has a gap below between 85 cents and $1.01 and because gaps on charts fill about 90% of the time, it's likely Waitr will trade back down into the range in the future. For the time being, however, Waitr looks strong due to the high level of volume in the stock, which indicates a high level of investor interest.

• Bulls want to see sideways consolidation in order to cool Waitr’s RSI, which like in Xiaobai’s stock is in overbought territory and then for big bullish volume to drive the stock up over a resistance level at $1.78. Above the level there is further resistance near $2.
• Bears want to see big bearish volume drop Waitr back down below the $1.30 level. If the stock loses the area as support it could fall toward $1, which would put it into gap fill territory.

Huadi International Group Co, Ltd HUDI was the third-largest gainer from last week with an increase of 59.74%. On Monday the stock was trading up another 8% on both bullish momentum and lack of resistance above the $7.20 area.

Like Xiaobai and Waitr, Huadi’s RSI is in overbought territory, which is currently the only red flag on the chart. It should be stated, however, that a stock’s RSI can stay extended for long periods of time before correcting.

• Bulls want to watch for sustained big bullish volume and then for eventual consolidation on low bearish volume. Increasing bearish volume would be the first warning sign the run may be over. The only resistance above, in the form of price history, is at Huadi’s Jan. 22 all-time high of $9.92.
• Bears want to see big bearish volume come in and drop the stock down below $7.20. If the stock can’t hold the level as support it has room to fall back toward $6.49.

Benessere Capital Acquisition Corp BENER gained 56.79% last week and on Monday the stock was trading up 7%, attempting to bust through a resistance level at the 47-cent mark.

Benessere made all of its gains on Thursday of last week and on Friday printed a bullish inside bar pattern on the daily chart. Monday’s move is likely the bullish reaction to the pattern. Like Waitr, Benessere’s red flag is the gap left below between the 27-cent and 29-cent range.

• Bulls want to see sideways consolidation either above or slightly below the upper resistance level and then for big bullish volume to come in and push the stock up toward the 50-cent mark. Above the level, there isn’t much resistance until the stock’s all-time high of 60 cents.
• Bears want to see big bearish volume drop Benessere down below the 42-cent level. If the stock loses the area as support it could revisit 37 cents.

Vinco Ventures. Inc BBIG was the fifth top gainer last week with a 54.41% increase. On Monday Vinco was consolidating the move by trading sideways within Friday’s price range, which has settled the stock into a bullish inside bar pattern.

Vinco may also be setting up a bull flag pattern on the daily chart and has already developed the bullish pattern on the four-hour. The pattern is developing just beneath a resistance level at $8.90 and if the pattern is recognized Vinco should be able to bust up through the level and take on another higher resistance zone at $10.

• Bulls want to see further sideways consolidation to keep the RSI below 70% and then for big bullish volume to come in and drive the stock up through the resistance levels and toward the all-time high of $12.49.
• Bears want to see big bearish volume come in and drop Vinco down below a support level at $7.40. Below the level the stock has support at $6.68 and near the $6 mark.
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