It was another great day on Wall Street on Wednesday. Despite the interest-rate rise, the market bought the news, taking them higher and closing at the highs for the day. It was a strong session. A lot of stocks that we follow came back, and a lot of stocks that have been strong are thrusting. So, let’s take a look and see what they’re doing.
FXCM Inc. (N:FXCM) has had an interesting few days. First it popped on Tuesday, it pulled back, held support, and then popped again on Wednesday, up another 2.40 to 9.16, or 35.5%, on 1.7 million shares. Based on the way it’s acting, and with the volume coming into it after coming down so far, it may be wanting to go higher. It took out the downtrend, and it may be a good candidate for a move up to 10-10.35 as early as Thursday. There’s some key resistance up in that zone. If it gets through that, this is a stock that could make it to the 12 1/2 range.
China Finance Online Co., Ltd. (O:JRJC) exploded on Wednesday on a very surprising earnings report. The entire trend line was taken out a few days ago, and on Wednesday, it ran up to resistance to the March highs, and backed off just a little bit. Still, it had a wonderful day, up 1.74 to 6.30, or 38%, on 6.5 million shares. If it continues, or if it forms a consolidation here, that may be a nice set-up to take it up to the 8 1/2-9 1/4 range. It has 6.2 days to cover.
Lumber Liquidators Holdings, Inc. (N:LL) had another great day on Wednesday. After the pop on Tuesday, it ran again on Wednesday, up another 1.15 to 18.68, or 6.6%, on 1.8 million shares. Still, it has about 7 days to cover. It looks like it may take a shot at running up towards 21 1/2-3/4, which is the next target.
SolarEdge Technologies, Inc. (O:SEDG) was highlighted on Tuesday because it broke out of a trend line above the moving average. On Wednesday, it popped another 3.76 to 25.75, or 17%, on 3.9 million shares. That's big volume for this stock. It got right up to resistance and closed pretty well. The next target is 24, and if it can catch momentum, it could run up to the mid 30’s eventually. It has 2.7 days to cover.
Other stocks on the long side include Advaxis, Inc. (O:ADXS), Second Sight Medical Products, Inc. (O:EYES), Five Prime Therapeutics, Inc. (O:FPRX), JinkoSolar Holding Co., Ltd. (N:JKS), China Finance Online Co., Ltd. (O:JRJC), Direxion Daily S&P Biotech Bull 3X ETF (N:LABU), PTC Therapeutics, Inc. (O:PTCT), SolarCity Corporation (O:SCTY), Solar3D, Inc. (O:SLTD), SunEdison, Inc. (N:SUNE), Guggenheim Solar ETF (N:TAN), TerraForm Power, Inc. (O:TERP), and Valeant Pharmaceuticals International, Inc. (N:VRX).