The stock market had an interesting day on Wednesday, a day that ended mixed on the session. Nevertheless, we’re going to talk about longs here because there’s a lot to talk about.
Bon-Ton Stores Inc. (BONT) had a nice day on Wednesday as it thrust 2.37 to 12.07, or 24.4%, on 1.6 million shares. That’s the biggest volume since early March when it spiked up. But the key to Wednesday’s action was the move across key resistance. It may very well be setting up for the highs in the mid-teens. That’s the next target for this stock.
Conns Inc. (CONN) has been acting very well. It’s been in a flag for a couple days. It spiked up on Wednesday, up 1.94 to 25.89, or 8%, on 1.9 million shares, and got up to nearly 27 before backing off to 25.89. It has good volume, and the potential to get to the mid-30’s short-term.
G-III Apparel Group, Ltd. (GIII), on strong earnings, had a nice thrust. It went right up through the top of the channel on Wednesday, and spiked 3.29 to 36.17, or 10%, on 762,000 shares. This stock could reach 38-38 1/2 short-term.
Repros Therapeutics Inc. (RPRX), a swing trade of ours, has been looking very good. Although it did back off the high to 14.23, for the most part, the 1.19, or 9%, on nearly 900,000, is a beauty, and the strongest volume in about 3 weeks. Look for this stock to move up to the 16-17 zone short-term.
Other stocks in our Charts for the Day are Cooper Tire & Rubber Co. (CTB), Endocyte, Inc. (ECYT), Ltd. (GIII), Guidewire Software, Inc. (GWRE), Heckmann Corporation (HEK), Harvest Natural Resources Inc. (HNR), Impac Mortgage Holdings Inc. (IMH), Nam Tai Electronics, Inc. (NTE), Peregrine Pharmaceuticals Inc. (PPHM), Pluristem Therapeutics, Inc. (PSTI), REEDS, Inc. (REED), Sarepta Therapeutics, Inc. (SRPT), and TeleCommunication Systems Inc. (TSYS).