Melco Resorts & Entertainment Ltd (NASDAQ:MLCO) had an interesting breakout on Wednesday, popping 22 cents, or 1.11%, to 20.01, on 3.3 million shares traded. It got above the tops, in a rising channel, pulled back and tested the breakout point. I put a swing on it earlier in the day, but it didn’t give me the best reaction. It came down, bounced, and retested. Targets are in the 24-5 range going forward.
Neurocrine Biosciences Inc (NASDAQ:NBIX) had a big day on Wednesday, jumping 10.32, or 25%, to 51.80, on 13 million shares traded. There’s big resistance up in this zone. The targets are 55, 59, and then 60.
Stocks on the Short Side….
Jack In The Box Inc (NASDAQ:JACK) may be rolling over from a rising wedge, dropping 2.09, or 2%, to 200.19, on 615,213 shares traded on Wednesday. If it follows through under 198 1/2, it can get going.
Stamps.com Inc (NASDAQ:STMP) looks pretty awesomely ugly here. The bear flag broke, it snapped back, couldn’t get any momentum going, and backed off again. On Wednesday, it dropped 4.85, or 4.5%, to 103.00, on 1.1 million shares traded. If it can get under 98-9, it could very well drop into the mid-to-low 90’s.
Stocks on the long side included Sequans Communications SA (NYSE:SQNS), Auxilio Inc (NYSE:AUXO), Axogen Inc (NASDAQ:AXGN), BlackBerry Ltd (NASDAQ:BBRY), Coupa Software Inc (NASDAQ:COUP), HP Inc (NYSE:HPQ), Melco Resorts & Entertainment L, Mazor Robotics Ltd (NASDAQ:MZOR), Neurocrine Biosciences, Inc, Sears Holdings Corporation (NASDAQ:SHLD), Spark Energy Inc (NASDAQ:SPKE), Square Inc. (NYSE:SQ), and ZIOPHARM Oncology Inc (NASDAQ:ZIOP).
On the short side, stocks included athenahealth Inc (NASDAQ:ATHN), AutoZone Inc. (NYSE:AZO), Cardtronics Inc (NASDAQ:CATM), DineEquity Inc (NYSE:DIN), Jack in the Box Inc, Stamps.com Inc, Tempur Sealy International Inc (NYSE:TPX), Ubiquiti Networks Inc (NASDAQ:UBNT), United Parcel Service Inc. (NYSE:UPS), and Yelp Inc (NYSE:YELP).