The markets had a crummy day on Monday, but did manage to crawl back at the end of the day. Not sure if this is bullish or not, but it was a rally back to resistance. Tuesday is an important day for the market. It could be turn-around Tuesday, or it could be turn-down Tuesday. In the meantime, let’s look at longs and shorts here.
Anavex Life Sciences Corp. (NASDAQ:AVXL) announced some intriguing results from a drug test on one of their patients that restored their entire autistic ability. Quite amazing! This stock topped on big volume on Monday, up 82 cents to 6.06, or 15.65%, on 7 million shares. That’s the second biggest volume since Dec when it was running. It wasn’t quite the desired finish, but we’ll have to see what it does. Watch Monday’s high at 6.49. If it gets through that, the target is 8.00.
FireEye, Inc. (NASDAQ:FEYE) has been up for three days in a row. It had a nice pop on Friday, then another nice pop on Monday, up 12 cents to 18.06 on 4.1 million shares, and then backed off. It got up to 18.65. That’s the highest level since a month ago. The key’s going to be if it gets up through 19.50-.65 range. If it can do that, look for it to run up to 22-3.
Fabrinet (NYSE:FN) has a wedge that looks like it’s been broken out of on Monday, popping 1.13 to 32.80, or 3.57%, on 713,788 shares traded. The volume picked up to about the best in three months. It could be that it’s breaking out, although it has had five waves up. The consolidation could lead to the mid-to-high 30s.
Shutterstock, Inc. (NYSE:SSTK), after Friday’s pop and pullback, is holding support, and popped again on Monday, up 1.00 to 42.21, or 2.4%, on 200,855 shares traded. Not a lot of volume, but it has 18.25 days to cover. Target is high 40s, low 50s.
Stocks on the long side included Anavex Life Sciences Corp. (AVXL), Bonanza Creek Energy, Inc. (NYSE:BCEI), Chembio Diagnostics, Inc. (NASDAQ:CEMI), Exelixis, Inc. (NASDAQ:EXEL), Second Sight Medical Products, Inc. (NASDAQ:EYES), FireEye, Inc. (FEYE), Fabrinet (FN), Shutterstock, Inc. (SSTK), Weibo Corporation (NASDAQ:WB), and Yirendai Ltd. (NYSE:YRD).
On the short side, stocks included Ambarella, Inc. (NASDAQ:AMBA), Natus Medical Inc. (NASDAQ:BABY), Harman International Industries (NYSE:HAR), Luxoft Holding, Inc. (NYSE:LXFT), Royal Caribbean Cruises Ltd. (NYSE:RCL), and Tempur Sealy International Inc. (NYSE:TPX).