It was an interesting day on Wednesday. The market was weak, the FOMC didn’t help matters, but we did get a late snap-back to pare back some of the losses. We’ll have to see if there’s a downside follow-through on Thursday. We are going to take a look at some of the better acting stocks on the long side. I know a lot of stocks acted well on the short side, but let’s cover the long side here until we get a more definitive breakdown, if we get one.
Amedisys Inc. (NASDAQ:AMED) is still doing quite well. The long-term chart shows a big drop down, base pattern, breakout, and then a pullback consolidation, with a platform in the 13.61 zone that held. Recently, it popped, wedged, popped, formed a long flag, broke out and had a breakaway gap. This looks to me like it’s headed toward the 29-30 zone short-term. It was a nice breakaway gap, so let’s see if Wednesday’s low holds at 23.95-24.
Electronic Arts Inc. (NASDAQ:EA), the big video-game developer, has a very beautiful, long-term, couple-year rising channel that broke through a double top at the 38.91 zone. The breakaway gap in this case didn’t close great, but it was still up 1.43, or 3.8%, on 10.6 million shares. Let’s see if that pullback is a buying opportunity, and then it can make it to higher levels. Ultimately, it could be a stock in the mid-to-high 40’s.
SolarWinds, Inc. (NYSE:SWI) is a company I like a lot. It had a big run-p in 2012, cracked early 2013 and was in a downtrend for a year, based out for most of 2014, and on Wednesday, it broke out, up 4.67, or 11%, on 3.7 million shares. It had a big breakaway gap on volume. That’s the biggest volume since February. On break-out day, I would look for more upside to get up to about 51, and then see if it can punch through there.
VASCO Data Security International (NASDAQ:VDSI) had another good follow-through day. This stock has been great to us. It has had a beautiful run-up since it was trading in the single digits. Now, it's moved up five-fold since February. The next target is 28 1/2-3/4.
Other stocks on Harry’s Charts of the Day are ACCO Brands Corporation (NYSE:ACCO), Amgen Inc (NASDAQ:AMGN), Cyber-Ark Software Ltd. (NASDAQ:CYBR), Dyax Corp. (NASDAQ:DYAX), Immunomedics Inc. (NASDAQ:IMMU), INSYS Therapeutics, Inc. (NASDAQ:INSY), Mercury Systems, Inc. (NASDAQ:MRCY), Radcom Ltd. (NASDAQ:RDCM), TriQuint Semiconductor, Inc. (NASDAQ:TQNT), Unilife Corporation (NASDAQ:UNIS), and ZELTIQ Aesthetics, Inc. (NASDAQ:ZLTQ).