It was a volatile day on Wall Street, first up, then down sharply, and then a nice comeback. I think the market is still in a phase where it’s potentially toppy, so you’ve got to be careful. But some of our stocks are moving. Let’s take a look at a few of them.
Canadian Solar Inc. (CSIQ) had a nice day on Thursday, indeed. It gapped up and continued higher, closing at 34.60, up 4.42, or 14.6%, on 11 million shares. That’s the second biggest volume all year. The significance about Thursday is that it went through key resistance, and spiked through the top of the channel. If it gets any follow-through on Friday, look for it to test somewhere around 35 1/2-3/4. If it gets through there, it may even see 40-42. For me, I would be looking to sell a stock that had a run from 18-18.68, and is doubling near the 35 range. But that doesn’t mean it can’t extend. Going forward, though, put in your stops.
FireEye, Inc. (FEYE), after the base was broken and the run-up occurred, a nice little wedge formed, on low volume, and with On-Balance Volume rising. This appears to be a stock that wants to be 50-52.
MOBILEYE N.V. (MBLY) had a good day on Thursday, up 2.21 to 37.02, or 6.45%, on 8.9 million shares. The major declining topsline was tested on Thursday as was lateral resistance. It didn’t close great. If it can get through 38-38 1/2, then look for it to head up towards 42.
Regulus Therapeutics Inc. (RGLS) had a nice day on Thursday. It popped 2.59 to 21.13, or 14%, on 1.7 million shares. That’s the biggest day on an up-day since Jan 10. This time it popped across that line and stayed there and closed very well at the upper end of the range, only 9 cents off the high. A terrific day for this stock. If this continues, it may run up and retest the 25-26 area short-term.
Other stocks on Harry’s Charts of the Day included Advaxis, Inc. (ADXS), Celldex Therapeutics, Inc. (CLDX), Cypress Semiconductor Corporation (CY), Cyber-Ark Software Ltd. (CYBR), Second Sight Medical Products, Inc. (EYES), Genetic Technologies Limited (GENE), Merrimack Pharmaceuticals, Inc. (MACK), MOBILEYE N.V. (MBLY), Ohr Pharmaceutical, Inc. (OHRP), Orexigen Therapeutics, Inc. (OREX), Paycom Software, Inc. (PAYC), Pacific Ethanol, Inc. (PEIX), Radius Health, Inc. (RDUS), Regulus Therapeutics Inc. (RGLS), SunEdison, Inc. (SUNE), TG Therapeutics, Inc. (TGTX), Trina Solar Limited (TSL), Vivint Solar, Inc. (VSLR), and ZIOPHARM Oncology, Inc. (ZIOP).