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eHealth, Inc. (EHTH), which I neglected to put a short on Wednesday, but thinking this stock has some downside potential. It dropped 2.15, or -1.95%, to 108.03, with a session high of 114.80, on 563,005 shares traded. If it breaks 100, I’m looking for 85. Simple as that.
FLIR Systems, Inc. (FLIR), after breaking down and bouncing to resistance, it backed off on Wednesday by 1.54, or -3.57%, to 41.59, after an opening session high of 43.10, on 1.6 million shares traded. My thinking is, if it comes down to 38-39, tests that level and breaks it, it will come down to 32 next, which is my target.
Guardant Health, Inc. (GH), after bouncing for a couple days, pulled back on Wednesday by 2.76, or -3.4%, to 78.31, with a morning session high of 82.32, on 1 million shares traded. It might be vulnerable to a much steeper slide, particularly if it takes out the 71 1/2 range. Something in the high 50’s, low 60’s is my next target for GH.
NovoCure Limited (NVCR) is in a big bear flag as far as I’m concerned. On Wednesday, it lost 2.44, or -3.7%, to 62.92, with a session high of 65.80, on 927,014 shares traded. If it breaks down below 60-61, I think it will be headed down toward 53-54 going forward.
Royal Caribbean Cruises Ltd. (RCL), I think, is too extended not to come down further. I’m looking for a test of the trendline, quite frankly, and lateral-price support that comes in around high 40’s. If we get that, we may cover for a quick 6 to 8 points, maybe even 10 points, depending on how far down it goes. On Wednesday, it was down on the day 4.47, or -7%, to 58.03, with an opening session high of 60.24, on 21.3 million shares traded. I’m looking for lower levels. Target is 47 1/2-47.
Tactile Systems Technology, Inc. (TCMD) dropped 52 cents, or 1.25%, to 41.96, not far off the session high of 42.17, on 235,745 shares traded on Wednesday. It broke down in March and snapped back but was unable to crack 44. That’s a quick stop there, but if it rolls over, it could see 35 and maybe 30.
On the short side, stocks included Arvinas, Inc. (ARVN), eHealth, Inc. (EHTH), FLIR Systems, Inc. (FLIR), Guardant Health, Inc. (GH), Haemonetics Corporation (HAE), NovoCure Limited (NVCR), NextCure, Inc. (NXTC), Oyster Point Pharma, Inc. (OYST), Royal Caribbean Cruises Ltd. (RCL), Sage Therapeutics, Inc. (SAGE), and Tactile Systems Technology, Inc. (TCMD).