It was a nasty day on Wall Street to start the week on Monday. Not a good sign, especially with support taken out. They may be short-term oversold, and may get a bounce, but anticipating lows is like trying to pick bottoms, and the bottom line is the trend is down. A lot of our stocks have done very well. Let’s take a look at some longs that have done great and actually broke out on Monday, and then a few shorts.
The KEYW Holding Corporation (NASDAQ:KEYW) was up 1.03 to 9.39, or 12.3%, on 1 million shares on Monday. This is an undiscovered stock that is slowly becoming discovered in the cyber-security field, which has had a rocking time of it in the last week. It spiked up from the 6 1/4 range to Monday’s high of 9.60 in just the last 4 sessions. There is overhead resistance around 10-10 1/2, which could be tested as early as Tuesday morning. But what I’m looking for is a pullback that’s not taken out, and a consolidation at the 8-9 zone. That would be a nice set-up day.
TASER International Inc. (NASDAQ:TASR), which had a swing trade put on it on Monday, was up 67 cents to 32.88, or 2%, on 3 million shares. After a five-wave move up, it went into a multi-week consolidation, holding support. Stop it under 30-301/4, and if it gets over 35, we’re rocking it to 40-42. That’s the target on this one.
Stocks on the Short Side….
Qualys, Inc. (NASDAQ:QLYS), a Boxer Swing Short, has been edging slightly higher, but had a reversal on Monday at resistance. It was down 95 cents to 41.44, and if it breaks below 40, the next target is going to be down around 34.
Universal Electronics Inc (NASDAQ:UEIC), another Boxer Short, was down 24 cents to 52.87 on Monday. It made a 4-wave move down, and the fourth wave formed a rising bear wedge right to the declining topsline at 50. The fifth wave could take it to 46.
Other stocks on Harry’s Charts of the Day included Agenus Inc. (NASDAQ:AGEN), Aoxing Pharmaceutical Company, Inc. (NYSE:AXN), BSQUARE Corp. (NASDAQ:BSQR), Cyber-Ark Software Ltd. (NASDAQ:CYBR), E-House (China) Holdings Limited (NYSE:EJ), Amicus Therapeutics, Inc. (NASDAQ:FOLD), Immunomedics Inc. (NASDAQ:IMMU), MannKind Corp. (NASDAQ:MNKD), NQ Mobile Inc. (NYSE:NQ), Northwest Biotherapeutics, Inc. (NASDAQ:NWBO), TrovaGene, Inc. (NASDAQ:TROV), Intrexon Corporation (NYSE:XON), and ZIOPHARM Oncology, Inc. (NASDAQ:ZIOP).
Stocks on the short side included Canadian Pacific Railway Limited (NYSE:CP), Emerge Energy Services LP (NYSE:EMES), Kansas City Southern (NYSE:KSU), Norfolk Southern Corporation (NYSE:NSC), TriNet Group, Inc. (NYSE:TNET), Union Pacific Corporation (NYSE:UNP), American Airlines Group Inc. (NASDAQ:AAL), JetBlue Airways Corporation (NASDAQ:JBLU), S&P 500, and Nasdaq.