The stock market had a good day and a lot of our stocks did well. There’s some old ones and some new ones that we’re going to take a look at here that are on the long side.
Builders FirstSource, Inc. (BLDR) is looking good. Back in April when it merged with a big competitor, this stock exploded, and then went sideways for four months. It appears to have woken in the last two days. On Wednesday, the volume came in and it surged a bit. On Thursday, it popped 95 cents to 14.75, or 7%, on 3.8 million shares, and it’s broken out. Looking back at its multi-year highs going way back, its weekly chart is headed, perhaps, for a test at the top of the channel around 15.85. If it blows through that, and starts to ramp up, or even if the channel expands, it could very well see 18 or 19.
Cara Therapeutics Inc. (CARA) had an interesting day on Thursday. After the big explosive move, and a falling wedge, the volume really ramped up, almost 1000% more than average. So that was very, very big, exceptional volume for this stock. It jumped 20 cents to 19.50, or 1%, on 3.2 million shares. It has 2.68 days to cover. Look for a retest of 21.60-.70. If it gets through that, look for it to head up towards 24-25.
Etsy, Inc. (ETSY) is doing well and the swing trade is working out. On Thursday, it had a nice pop out of a wedge across multiple-sessional highs, up 2.22 to 21.20, or 11.7%, on 2.3 million shares. With 7.4-5 days to cover, it may retest recent spike-highs at 23-4-5, or so, and may even test the 25 1/2 area. The targets are 23 1/2 and 25 1/2.
Mobileye N.V. (MBLY) is really looking great. After reaching the top of the channel and reversing, it came down to the moving averages, held, and is moving back up. It was up 63 cents to 60.07, or 1%, on 2.6 million shares on Thursday. If this stock extends, and retest recent highs, it may move up towards the high 60’s. Target is around 67.
Other stocks on Harry’s Charts of the Day included eHealth, Inc. (EHTH), Fitbit Inc. (FIT), Flamel Technologies SA (FLML), LivePerson Inc. (LPSN), Nutrisystem, Inc. (NTRI), Open Text Corporation (OTEX), Pegasystems Inc. (PEGA), Ruckus Wireless, Inc. (RKUS), Shopify Inc. (SHOP), Voltari Corporation (VLTC), YRC Worldwide Inc. (YRCW), and ZIOPHARM Oncology, Inc. (ZIOP).