It was a sloppy day on Wall Street on Wednesday and ended narrowly mixed on the day, so it could have been a consolidation day. A lot of the stocks we follow did well, so much so, that it was difficult paring this list down.
Aqua Metals, Inc. (NASDAQ:AQMS), which we’ve been talking about for a week, exploded from under the 8-range in May, ran all the way up to about the 35-range, and then pulled back to 10 1/2, bounced around, formed a wedge, and on Wednesday, it popped out of the wedge and shot up 1.42 to 12.92, or 12.35%, on 373,310 shares traded. That’s the best volume in six days, and the fourth best volume this year. That move got right to the channel top, and one or two things can happen here. Either it backs off, or it follows through and blows off. If that’s the case, look for a quick move to 15-16. If it doesn’t get through, look for a pullback consolidation. It has 6 days to cover.
Cynosure, Inc. (NASDAQ:CYNO) is doing very well. The pattern shows a breakout, a pullback, a pop-retest pullback, and on Wednesday, it popped dramatically, up 2.72 to 50.49, or 5.69%, on 777,236 shares traded, the third biggest volume all year. If that’s not a breakout day, it closed right at the resistance zone. It could really get a run here. The targets are 55, and 59. It has 2.53 days to cover.
Five9, Inc. (NASDAQ:FIVN) swing trade is doing well. It popped another 73 cents to 10.92, or 7%, on 855,000 shares traded. It’s the second biggest volume this year. It comes up to a level that should lead to more upside. Going forward, the targets are 12, and then the mid-teens. With 4.2 days to cover, if this one goes and could break out and run.
Aratana Therapeutics, Inc. (NASDAQ:PETX) is a chart that I like. It came all the way down from 21.22 to 2.00 and change, and lost 80-90% of its value. It thrust, pulled back, went two waves up, and looks like it may have started wave three, but in order to accelerate, it has to get through the double top at 7 3/4. Once it gets through there, the targets are 9.00, and then 11 1/2.
Stocks on the long side included Aqua Metals, Inc. (AQMS), Infoblox Inc. (NYSE:BLOX), Cynosure, Inc. (CYNO), 8x8 Inc. (NASDAQ:EGHT), Energy Transfer Equity, L.P. (NYSE:ETE), Five9, Inc. (FIVN), Fabrinet (NYSE:FN), Medivation, Inc. (NASDAQ:MDVN), Micron Technology, Inc. (NASDAQ:MU), Nanometrics Incorporated (NASDAQ:NANO), Minerva Neurosciences, Inc. (NASDAQ:NERV), Novavax, Inc. (NASDAQ:NVAX), Nevro Corp. (NYSE:NVRO), Universal Display Corp. (NASDAQ:OLED), Ocean Power Technologies, Inc. (NASDAQ:OPTT), Aratana Therapeutics, Inc. (PETX), Shopify Inc. (NYSE:SHOP), U.S. Silica Holdings, Inc. (NYSE:SLCA), VelocityShares 3x Long Natural Gas ETN (NYSE:UGAZ), Weibo Corporation (NASDAQ:WB), Whole Foods Market, Inc. (NASDAQ:WFM), Zendesk, Inc. (NYSE:ZEN).