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The Trade Desk, Inc. (TTD) on Monday got hammered 27.57, or minus 3.44%, to 773.43, going from 810 to 757.15, but recovered 6.57 to 780.00 in after-hours, on 1.2 million shares traded. That was nearly a two-hundred-point drop. It has not rallied at all for five or six days. It may get a bounce, so watch to see if it makes it up to the 840-50 zone, at which point we may want to put a short, especially, if there is a small bounce and it rolls over. If that does occur, the first target will be 690, and beneath that to a much bigger drop to 600.
Alibaba Group Holding Limited (BABA), which I said a couple weeks ago was a pretty good short on the first bounce, got the bounce, rolled over, and went from 280 down to the 208-10 zone, rallied, bounced up to resistance, and then on Monday, it smacked back 4.88, or minus 2.10%, to 227.85, with a session high of 230.38 down to 225.04, on 24.5 million shares traded. Next, we are looking for 190.
Fastly, Inc. (FSLY) on Monday dropped 1.23, or minus 1.41%, to 86.14, going from a session high of 87.52 to 83.21, on 3.9 million shares traded. A nasty top formation formed a big head and shoulders. I would look for support at 84 to be broken. After that you might quickly see 75-76, and then 65-66.
GSX Techedu Inc. (GSX) has been in a downtrend since October. It has been pretty ugly from about 120 down to 49. On Monday, it was down another 2.96, or minus 5.72%, to 48.75, going from a sharp opening high of 51.66 to 48.40, and then an increase of 83 cents to 49.58, in after-hours. I don’t see a bottom anywhere. There is more support down around 43, which is my next target.
Tandem Diabetes Care, Inc. (TNDM) was also coming out of a wedge to the downside on Monday, and a bear flag looks like it broke, taking it down 2.19, or minus 2.29%, to 93.49, with a with a session high of 96.80 to 90.56, on 778,206 shares traded. The next target is 86.
On the long side, stocks included The Trade Desk, Inc. (TTD), Arcturus Therapeutics Holdings Inc. (ARCT), AudioCodes Ltd. (AUDC), Alibaba Group Holding Limited (BABA), Best Buy Co., Inc. (BBY), BigCommerce Holdings, Inc. (BIGC), crm, Citrix Systems, Inc. (CTXS), Cue Biopharma, Inc. (CUE), eHealth, Inc. (EHTH), Fastly, Inc. (FSLY), GSX Techedu Inc. (GSX), Meritage Homes Corporation (MTH), Overstock.com, Inc. (OSTK), Quidel Corporation (QDEL), uniQure N.V. (QURE), Royal Caribbean Cruises Ltd. (RCL), Snowflake Inc. (SNOW), Stamps.com Inc. (STMP), and Tandem Diabetes Care, Inc. (TNDM).