Altair Engineering Inc (NASDAQ:ALTR) has been in a beautiful rising channel since last November, when apparently it went public, at least that’s what it shows here. It came out of a beautiful consolidation over the last couple months, a couple days ago on Friday, and Monday, followed through. It didn’t close great, but it’s still up 1.39, or 4%, to 39.43, on 741,742 shares. At one point it was up about 2-2 1/2 points higher than that. You can see how it pulled back. Support now is at the 38 area and the target is 45.
Rubicon Pro (NYSE:RUBI) broke out of a wedge and popped a nice sharp 44 cents, or 12%, to 4.03, on 596,739 shares on Monday. Volume was solid, technicals look good, although were at the top of the channel. There’s a little bit of resistance here as well at 4.15-17. It may reach that early tomorrow morning, but I think we’re going to see 4 3/4 and then 6. Those are my targets.
Stocks on the Short Side…
Broadcom Inc (NASDAQ:AVGO) is a stock I showed you the break down for a couple weeks ago. Down 1.15 to 211.08, on 2.6 million shares on Monday. There’s a snap back, right to the gap area, and then a pull back. If it breaks down around here, I’m looking for a test of 198-200, followed by 188, and then 168.
SolarEdge Technologies Inc (NASDAQ:SEDG) looks like a head and shoulder top. Here’s the bear wedge, it’s right on the neckline. If it falls now, it’s going to fall apart, I think. It fell 40 cents to 45.84, on 702,442 shares on Monday. It might get some support around 38-9, that’s my initial target, then I’m looking for 32.
Stocks on the long side included Altair Engineering Inc. (ALTR), Antares Pharma, Inc. (ATRS), AudioCodes Ltd. (AUDC), CASI Pharmaceuticals, Inc. (CASI), Corium International, Inc. (CORI), Hortonworks, Inc. (HDP), Health Insurance, Inc. (HIIQ), ITUS Corporation (ITUS), Nanometrics Incorporated (NANO), the Rubicon Project, Inc. (RUBI), Square, Inc. (NYSE:SQ), The Container Store Group, Inc. (TCS), Tilly’s, Inc. (TLYS), and Xenetic Biosciences, Inc. (XBIO).
On the short side, stocks included Broadcom Inc. (AVGO), Beacon Roofing Supply, Inc. (BECN), Bitauto Holdings Limited (BITA), TopBuild Corp. (BLD), Cutera, Inc. (CUTR), Daqo New Energy Corp. (DQ), FirstCash, Inc. (FCFS), Gravity Co., Ltd. (GRVY), NetEase, Inc. (NTES), Penumbra, Inc. (PEN), Red Hate, Inc. (RHT), SolarEdge Technologies, Inc. (SEDG), Shutterfly, Inc. (SFLY), SMART Global Holdings, Inc. (SGH), Scientific Games Corporation (SGMS), SINA Corporation (SINA), The Scotts Miracle-Gro Company (SMG), Hello Technologies (SNHY), LendingTree, Inc. (TREE), and Weibo Corporation (WB).
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