It was an interesting day on Wall Street on Tuesday, which closed narrowly on the session, but mixed on the technicals, so we will take a look at longs and shorts.
Isis Pharmaceuticals, Inc. (ISIS) had a big day on Tuesday. The key resistance line, going back several weeks, has contained the prices, but on Monday, it had a spectacular surge, popping 1.48 to 15.09, or 11%, on 3.3 million shares. Look for the next target to be around 16.60 short-term and secondary target around 19.
SolarWinds, Inc. (SWI) broke out of a key 3-week flag with a pop of 3.74 to 58.62, or 6.8%, on 2.3 million shares. It closed pretty much at the high for the day. Look for more upside, potentially up around 55-56.
On the Short Side…
CEC Entertainment Inc. (CEC) rolled over, formed a bear flag, and spiked down to 28.99, before it closed at 29.56. It looks like it’s starting to collapse. Don’t be surprised if this stock reaches 25 anytime soon.
Walter Energy, Inc. (WLT) rolled over from a bear flag and has been coming down for the last 6-7 sessions. It looks like it’s headed toward the mid 20’s to test the bottom of the channel.
Other stocks in our Charts for the Day are Cincinnati Bell Inc. (CBB), Heckmann Corporation (HEK), Isis Pharmaceuticals, Inc. (ISIS), Nationstar Mortgage Holdings Inc. (NSM), Nam Tai Electronics, Inc. (NTE), Peregrine Pharmaceuticals Inc. (PPHM), REEDS, Inc. (REED), ResMed Inc. (RMD), Synta Pharmaceuticals Corp. (SNTA), SolarWinds, Inc. (SWI), and Threshold Pharmaceuticals, Inc. (THLD).
Stocks on the short side include Almaden Minerals Ltd. (AAU), CEC Entertainment Inc. (CEC), The Chefs' Warehouse, Inc. (CHEF), Chipotle Mexican Grill, Inc. (CMG), FirstEnergy Corp (FE), Nucor Corporation (NUE), True Religion Apparel Inc. (TRLG), Walter Energy, Inc. (WLT), and Zumiez, Inc. (ZUMZ).