Finisar Corp. (NASDAQ:FNSR) is looking ugly. We liked this stock as it was moving up, and then it double-topped and got crushed, formed a bear flag, rolled over, formed a bear wedge, and popped out of the wedge, starting the fifth-wave down, dropping 2.23, or 8.8%, to 23.06, on 4.3 million shares traded on Wednesday. It sure looks like a stock that’s headed to the high teens. It had a bad earnings report.
Innophos Holdings, Inc. (NASDAQ:IPHS) looks terrible, breaking its channel and coming down, it bounced, and then got smacked a week and a half ago, before forming a bear flag. On Wednesday, it was down 1.19, or 2.7%, to 42.74, on 118,094 shares traded. It looks pretty ominous here. You could see it get to 37 short-term.
PCM, Inc. (NASDAQ:PCMI) had a big run-up from 8.00 to the low 30’s, got slam-dunked, formed a bear flag or wedge, and on Wednesday, it was down another 50 cents, or 2.56%, to 19.00, on 158,953 shares traded. It doesn’t look like it wants to rally. It looks like it wants to go lower. I have a target of 14-5 going forward.
United Parcel Service, Inc. (NYSE:UPS) had a big break, and over the last two or three months it has been consolidating. It made three efforts to get through 109.00, failed, and finally rolled over. On Wednesday, it was down another 1.63, or 1.56%, to 102.87, on 3 million shares traded. The neckline alone calls for a move down to 94.00.
Stocks on the long side included Akamai Technologies, Inc. (NASDAQ:AKAM), Allegiant Travel Company (NASDAQ:ALGT), Acuity Brands, Inc. (NYSE:AYI), AutoZone, Inc. (NYSE:AZO), bg, Cardtronics plc (NASDAQ:CATM), CAMPING WORLD HOLDINGS, INC. (NYSE:CWH), CyberOptics Corporation (NASDAQ:CYBE), DineEquity, Inc. (NYSE:DIN), Fabrinet (NYSE:FN), Finisar Corp. (NASDAQ:FNSR), Five Prime Therapeutics, Inc. (NASDAQ:FPRX), G-III Apparel Group, Ltd. (NASDAQ:GIII), Glaukos Corporation (NYSE:GKOS), Hibbett Sports, Inc. (NASDAQ:HIBB), Dick's Sporting Goods, Inc. (NYSE:DKS), Inphi Corporation (NYSE:IPHI), Innophos Holdings, Inc. (NASDAQ:IPHS), Masimo Corporation (NASDAQ:MASI), MSC Industrial Direct Co., Inc. (NYSE:MSM), PCM, Inc. (NASDAQ:PCMI), Ryder System, Inc. (NYSE:R), Ralph Lauren Corporation (NYSE:RL), Sally Beauty Holdings, Inc. (NYSE:SBH), U.S. Silica Holdings, Inc. (NYSE:SLCA), United Parcel Service, Inc. (NYSE:UPS), Urban Outfitters, Inc. (NASDAQ:URBN), United Rentals, Inc. (NYSE:URI), Veritiv Corporation (NYSE:VRTV), The Chemours Company (NYSE:CC), WD-40 Company (NASDAQ:WDFC), WEX Inc. (NYSE:WEX), WAVE Life Sciences Ltd. (NASDAQ:WVE), and Yelp Inc. (NYSE:YELP).