It was an interesting day on Wall Street on Wednesday. The market was very strong most of the session until the last hour when they gave it up, and a lot of it was blamed on comments out of Germany about Greece. Trade what you see not what you think. Bottom line is we have a lot of interesting charts that had some nice moves today.
The Chemours Company (NYSE:CC) has been acting great ever since the breakout out of a wedge. It’s been up four days in a row, and eight of the last nine days. On Wednesday, it was up 17 cents to 9.23, or 2%, on 3.7 million shares. It broke through the double top, so I’m looking for a move that immediately tests 10, and then maybe up to about 12 1/2-13.
Ebix Inc. (NASDAQ:EBIX) has a swing trade on it that’s working. It broke through resistance with a breakaway gap four days ago and has been up every day, and on Wednesday, it was up 46 cents to 48.32, on 463,672 shares traded. It’s at the top of the short-term channel. It may pull back and consolidate, but I have a target set for the mid-60’s. It has 23 days to cover.
GW Pharmaceuticals plc (NASDAQ:GWPH) swing trade continues to reach higher. On Wednesday, it was up 3.69 to 86.23, or 4.5%, on 803,800 shares traded. It already reached one swing trade target at 88.34. It may be headed to the next one at 91.00.
LSB Industries Inc. (NYSE:LXU) has a swing trade that broke out, but didn’t quite hold it. It was up 77 cents to 14.61, or 5.56%, on 700,400 shares traded on Wednesday. It reached a high of 15.00 earlier in the day. It appears to me that the top of the channel is at 18.00.
Stocks on the long side included Adeptus Health Inc. (NYSE:ADPT), Bonanza Creek Energy, Inc. (NYSE:BCEI), Christopher & Banks Corporation (NYSE:CBK), The Chemours Company (CC), Callon Petroleum Company (NYSE:CPE), Ebix Inc. (EBIX), Energy Recovery, Inc. (NASDAQ:ERII), Freeport-McMoRan Inc. (NYSE:FCX), GW Pharmaceuticals plc (GWPH), Helix Energy Solutions Group, Inc. (NYSE:HLX), LSB Industries Inc. (LXU), SolarEdge Technologies, Inc. (NASDAQ:SEDG), Guggenheim Solar ETF (NYSE:TAN), Teck Resources Limited (NYSE:TCK), and Weibo Corporation (NASDAQ:WB).