First Solar, Inc. (NASDAQ:FSLR) did great on Wednesday, jumping 2.43, or 6.66%, to 38.90, on 5.2 million shares traded. That’s the best volume on an up-day in a couple of weeks. On a breakout day, it moved above the February high and into the gap created by the big down move in early November. At this point, it looks like it has a shot at getting it into the 42-3 range on a short-term basis.
Nektar Therapeutics (NASDAQ:NKTR) took a little pop on Wednesday, and broke out above a little bit of an inverse head-and-shoulder pattern, gaining 1.35, or 6.84%, to 21.10, on 2.8 million shares traded. Resistance is at 21 1/2. If it gets through that, which could be as early as Thursday, the next target is 25.
Stocks on the Short Side….
Ralph Lauren Corporation (NYSE:RL) is breaking out of a big flag and falling apart in a fifth-wave decline. It was down another 1.02, or 2%, to 66.68, on 2 million shares traded on Wednesday. Target is 60-61 going forward.
Signet Jewelers Ltd (NYSE:SIG) keeps going lower, and on Wednesday, it was down another 3.85, or 7%, to 54.53, on 4.4 million shares traded. At one point, it got smacked down to 52.86 before snapping back. Frankly, I don’t think it’s done yet. It’s taken out the bottom of the lower-range channel. It may have to go into the mid 40’s next.
Stocks on the long side included Majesco Entertainment Company (NASDAQ:COOL), First Solar, Inc. (FSLR), GlycoMimetics, Inc. (GLYC), Hortonworks Inc (NASDAQ:HDP), Kratos Defense & Security Solutions (NASDAQ:KTOS), Nektar Therapeutics (NKTR), Novocure Ltd (NASDAQ:NVCR), Puma Biotechnology Inc (NASDAQ:PBYI), Impinj Inc (NASDAQ:PI), The Container Store Group, Inc. (TCS), Triumph Group Inc (NYSE:TGI), and Take-Two Interactive Software Inc (NASDAQ:TTWO).
On the short side, stocks included Acuity Brands Inc (NYSE:AYI), CVS Health Corporation (NYSE:CVS), Genesco Inc (NYSE:GCO), Ralph Lauren Corporation (NYSE:RL), Sally Beauty Holdings Inc (NYSE:SBH), Signet Jewelers Ltd (SIG), Ubiquiti Networks Inc (NASDAQ:UBNT), and Yelp Inc (NYSE:YELP).