It was kind of a difficult session on Wall Street on Monday. The markets are under pressure, and every rally is met with more selling, although they did make a bit of a stand on Monday. And it was an up day, so that’s good. We’re going to go over some shorts here, and be specific about some of the stocks that have more downside.
Deckers Outdoor Corp. (NYSE:DECK) has been ugly for a long time now. It spent months consolidating before the breakdown recently, and is now creating another bear wedge. The way the channel is created the first target is in the mid 50s, and the second target is in the high 40s.
ManpowerGroup Inc. (NYSE:MAN), coming off the top, really hard formed a rising wedge. It recently broke down and failed at the 50-day moving average. Look for this to move to the high 70s, and then the low 70s.
Qualys, Inc. (NASDAQ:QLYS) topped in April, formed a rising wedge, broke down, formed a bear flag, and rolled over. Now it’s in another rising wedge and looks like it isn’t done yet. Target is 23½-24.
Universal Electronics Inc. (NASDAQ:UEIC) has been a Boxer Short for awhile. It came down at the beginning of the year, bear wedged, bear flagged twice, and is doing it again. Next target is 40-41.
Other stocks on the long side include Apollo Education Group, Inc. (NASDAQ:APOL), Cimpress N.V. (NASDAQ:CMPR), Criteo SA (NASDAQ:CRTO), Constant Contact, Inc. (NASDAQ:CTCT), Harman International Industries Inc. (NYSE:HAR), Pacira Pharmaceuticals, Inc. (NASDAQ:PCRX), Mallinckrodt Public Limited Company (NYSE:MNK), Power Solutions International, Inc. (NASDAQ:PSIX), Qualys, Inc. (NASDAQ:QLYS), Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB), Teradata Corporation (NYSE:TDC), United Rentals, Inc. (NYSE:URI), and Yelp Inc. (NYSE:YELP).