It was a sloppy, choppy session for the stock market on Thursday. A lot of stocks we follow did well. Let’s go over some of them.
BSQUARE Corp. (BSQR), which was a swing trade when it popped up, pulled back, and then subsequently ran from the 5 1/4 range to 6.39, closing at 6.36, up 17 cents, or 2 3/4 %, on 467,000 shares traded, on the verge of a potential breakout, and a run toward 7 1/2. This one looks good. Let’s see the volume pick up. The technicals are quite strong. The long-term pattern on a weekly basis shows a key-resistance level up in the 7 1/2 area that is popping out, and could lead to something in the 9-10 zone.
Jumei International Holding Limited (JMEI), which we put a swing trade on late in the day, pulled back and closed well. It was up 2.03 to 28.20, or 7.8%, on 5.6 million shares. In after hours trading note that this stock had a big spike up, exploding to near 31.00 and going back down to 271/2. Thursday was a breakout day. Look for 32-33, and maybe 35 short.
Shake Shack Inc. (SHAK) made a phenomenal move from 50 to 90 in a month, and in just the last two weeks, going from 61 1/2 to 90. On Thursday, it was up 7.02 to 89.87, or 8.4%, on 1.9 million shares. It’s at the top of the channel, and over extended, but it very well will reach 100 before it’s over.
Tetraphase Pharmaceuticals, Inc. (TTPH) exploded on Thursday, pulled back on 7.3 million shares, was down 1.21 to 44.12, or 2.67%, and we put a swing trade on it. Now we are looking for this stock to be in the 50-55 range, maybe even 60 range short-term.
Other stocks on Harry’s Charts of the Day included Erin Energy Corp. (ERN), The Habit Restaurants, Inc. (HABT), Oasis Petroleum Inc. (OAS), Qunar Cayman Islands Limited (QUNR), RIG, SeaDrill Limited (SDRL), Shake Shack Inc. (SHAK), Seventy Seven Energy Inc. (SSE), ProShares Ultra Bloomberg Crude Oil (UCO), United States Oil ETF (USO), Youku Tudou Inc. (YOKU), and China Southern Airlines Co. Ltd. (ZNH).