GlycoMimetics, Inc. (GLYC) exploded last week, pulled back, and on Tuesday, it reversed and ran up to 14.30, before pulling back slightly, closing at the upper end of the range at 13.25, up 2.24, or 20%, on 12.6 million shares traded. It has 16 1/2 days to cover . It could see 16, 17, even 19 short-term.
Swing trade Sangamo Therapeutics Inc (NASDAQ:SGMO) popped out of a wedge on Tuesday, gaining 75 cents, or 10%, to 8.20, on 1.9 million shares traded. We’ll have to see if the volume increases to the extent that it can get up to 8.60. My target is 9 3/4-10, followed by a secondary target of 13 1/2. It has 13 days to cover .
Stocks on the Short Side
AutoZone, Inc. (NYSE:AZO) was the biggest loser on a downgrade by far in the stock market today, dropping 12%, down a whopping 78.09, to 581.40, on 3 million shares traded. Looking at the long-term chart, you can see that the entire top pattern was broken. It’s at support, so look for some sort of snapback consolidation. Perhaps, if it gets it and then rolls over, the next target is in the 500 range.
Although Dillards's Inc (NYSE:DDS) (DDS) was one of three known retail stores to beat Quarter 1 expectations, it has been in a downward spiral for quite some time. Tuesday proved to be no different than what we have been seeing, down another 1.54, or 3%, to 49.25, on 695,781 shares traded. In a rising wedge, after the big drop, it looks like it wants to go lower. My targets are 42 1/2 and 38.
Stocks on the long side included GlycoMimetics, Inc. (GLYC), Ichor Holdings, Ltd (NASDAQ:ICHR), Imperva Inc (NASDAQ:IMPV), Puma Biotechnology Inc (NASDAQ:PBYI), QIWI plc (NASDAQ:QIWI), Raven Industries Inc (NASDAQ:RAVN), Sangamo Therapeutics, Inc. (SGMO), Teladoc Inc (NYSE:TDOC), TG Therapeutics Inc (NASDAQ:TGTX), and ViewRay Inc (NASDAQ:VRAY).
On the short side, stocks included AutoZone Inc (NYSE:AZO), Camping World Holdings Inc (NYSE:CWH), Dillards Inc (NYSE:DDS), Sally Beauty Holdings Inc (NYSE:SBH), and Yelp Inc (NYSE:YELP).