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LULU, M, AEIS, SNHY — Stock Charts to Watch

Charts of the Day video for Wednesday March 28th, 2018


Lululemon Athletica Inc. (LULU) had a very big breakaway move on Wednesday, exploding 7.25, or 9.2%, to 85.96, on 10.7 million shares traded. It’s four waves up, and if this is the beginning of the fifth wave, we could see 94-5. That’s my near-term target.

Macy's, Inc. (M), one of the better-looking retailers, jumped 1.21, or 4.34%, to 29.07, on 11 million shares on Wednesday. It competed the bottom of a big, right-handed V, another leg up, and a flag. Even if it’s four waves up, wave five could take it to 34 1/2, which is the next target.

Stocks on the Short Side….

Advanced Energy Industries, Inc. (AEIS) had a beautiful head-and-shoulders, formed a bear flag, and rolled over, dropping 69 cents, or 1.1%, to 62.32, on 327,595 shares traded on Wednesday. This stock is going to have a big drop in here. I’m looking for 51 to be the next target.

Sun Hydraulics Corporation (SNHY) cracked in January, had a big drop down, and massive wedges that formed. On Wednesday, it dropped another 67 cents, or 1.24%, to 53.36, on 146,415 shares traded. It’s two waves down, and a big third wave could take it down to the low 40’s.

Stocks on the long side included Fennec Pharmaceuticals Inc. (FENC), ANSYS, Inc. (ANSS), Finjan Holdings, Inc. (FNJN), Lululemon Athletica Inc. (LULU), Macy's, Inc. (M), Quorum Health Corporation (QHC), Qiwi (QIWI), Tandem Diabetes Care, Inc. (TNDM), VelocityShares Daily 2x VIX ST ETN (TVIX), and ProShares Ultra VIX Short-Term Fut ETF (UVXY).

On the short side, stocks included Applied Optoelectronics, Inc. (AAOI), Advanced Energy Industries, Inc. (AEIS), Albemarle Corporation (ALB), DowDuPont Inc. (DWDP), Golden Entertainment, Inc. (GDEN),, Inc. (OSTK), Silicom Ltd. (SILC), Scotts Miracle-Gro Company (SMG), Sun Hydraulics Corporation (SNHY), Inc. (SOHU), Triton International Limited (TRTN), Tower Semiconductor Ltd. (TSEM), Take-Two Interactive Software Inc. (TTWO), and Ultra Clean Holdings Inc. (UCTT).

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