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FireEye, Inc. (FEYE) security software company had a really nice day on Wednesday, jumping 2.46, or 18.4%, to 15.84, with a session high of 16.28, on 32 million shares traded. That popped out of the base, and for me, that breakaway gap was important on that kind of volume. I think you are going to see a run to test quickly the 17 range. With any luck, it may extend that initially to 18-18 1/4, which is my near-term target. The secondary target is around 20.
Futu Holdings Limited (FUTU) is running! Look at the base at around 13 and the beautiful run-up. Recently, after a big run, it took it from 8, or so, to 32, 300%, and then went into a month-long consolidation. But, on Wednesday, it formed a breakaway gap, and ran 2.26, or 7.6%, to 31.96, with a session high of 32.45, on 1.5 million shares traded. Now, watch the high at 33.80. If it gets through that near-term, we might get to see it run into the 38-40 zone. That is my target.
K12 Inc. (LRN) ran 1.62, or 3.5%, to 48.60 on Wednesday, with a session high of 51.38, on 2.3 million shares traded. It popped out of a wedge, ran up t resistance, and backed off. I think it is a little overextended, but it sure has momentum. I would look for something in the mid-50’s for starters.
Quanterix Corporation (QTRX), a life science company, looks like a really-strong fundamental play, but from a technical standpoint on Wednesday, it exploded 3.52, or 12 1/2%, to 31.58, with a session high of 32.97, on 480,345 shares traded and another 42 cents in after-hours. It is a thinly traded stock so it might fly. Look for an immediate retest of the 36 1/2 area. When it gets through that, I’m looking for low 40’s.
Spartan Energy Acquisition Corp. (SPAQ) popped 80 cents, or 6%, to 13.98 on Wednesday, and closed at the session high at 14.00 even, on 5.8 million shares traded. In after-hours it popped another 56 cents. You can see that the reversal day and engulfing reversal day were very bullish. It might lead to a target around 15 1/2 next.
On the long side, stocks included Advanced Micro Devices, Inc. (AMD), Blink Charging Co. (BLNK), Ciena Corporation (CIEN), CleanSpark, Inc. (CLSK), FireEye, Inc. (FEYE), Futu Holdings Limited (FUTU), Inseego Corp. (INSG), Jumia Technologies AG (JMIA), Eastman Kodak Company (KODK), L Brands, Inc. (LB), K12 Inc. (LRN), Livongo Health, Inc. (LVGO), MoneyGram International, Inc. (MGI), NCR Corporation (NCR), Niu Technologies (NIU), Quanterix Corporation (QTRX), Retractable Technologies, Inc. (RVP), Spartan Energy Acquisition Corp. (SPAQ), Tenable Holdings, Inc. (TENB), Tupperware Brands Corporation (TUP), and Workhorse Group Inc. (WKHS).