The markets had an interesting, volatile day on Monday, and they ended the day mixed. Some of the stocks we follow did well. I’m going to go over longs and shorts to give you a status update.
Alibaba Group Holdings (NYSE:BABA) is a recent IPO. After the IPO pop, it came down from the 109 range to the low 80s, towards the 82-81 low. In a week and a half it’s gone up from there to Monday’s high of 98.85, up 2.03, or 2%, on 28 million shares. It has been up 8 out of 9 days. There’s a possibility of two or three things, and either it pulls back, or it blows through it. As early as Tuesday, this stock may pop, and with a lot of companies coming out with recommendations of 120-125 targets. It could extend. Keep an eye on it. If it gets above the 97-99 area, it may start to run a couple points.
Bristol-Myers Squibb Company (NYSE:BMY), which I’ve been hearing fundamentally, but from a technical standpoint I saw the breakout of a beautiful base that took six months to develop. Such a short move requires some sort of pullback consolidation, which may have begun on Monday. It was only off a dime. The volume increased a little bit. I just think that if that stock pulls back in this zone and consolidates, it’s headed to much higher levels. First, a retest of the early year’s high at the 57 range, and if it gets through that, we could see 63ish. Those are the targets.
Cyber-Ark Software Ltd. (NASDAQ:CYBR) had an excellent day on Monday. Always look at an IPO on a 15-minute basis for more chart data. This stock backed and filled for three weeks, or so, and broke out over the last couple sessions. You can see a spike up, it reached the post-IPO high at 35.88, and on Monday, it spiked up again, up 4.84, or 16%, on 3.9 million shares. The short-term target on this one is 39.40.
ReWalk Robotics Ltd. (NASDAQ:RWLK) also had a good day on Monday, up 3.18, or 12%, on 506,700 shares traded. It came out and popped, and then drifted down from the declining channel. Two declining top lines were broken, and it punched through the moving averages. Watch resistance at 30, it may reach that Tuesday morning. Between 30-31 1/2 are scalp targets, but my swing trade target is mid 30’s, around 35.
Other stocks on Harry’s Charts of the Day are Chembio Diagnostics, Inc. (NASDAQ:CEMI), NewLink Genetics Corporation (NASDAQ:NLNK), Infinera Corporation (NASDAQ:INFN), NewLink Genetics Corporation (NASDAQ:NLNK), Novavax, Inc. (NASDAQ:NVAX)), and Vitae Pharmaceuticals, Inc. (NASDAQ:VTAE).
Stocks on the short side include CARBO Ceramics Inc. (NYSE:CRR), Emerge Energy Services LP (EMES), Hi-Crush Partners LP (NYSE:HCLP), Hornbeck Offshore Services, Inc. (NYSE:HOS), Nu Skin Enterprises Inc. (NYSE:NUS), Qihoo 360 Technology Co. Ltd. (NYSE:QIHU), Westlake Chemical Corp. (NYSE:WLK), and Yelp, Inc. (NYSE:YELP).