Tilray Inc (NASDAQ:TLRY) is one that I want to highlight because it had that big 5-wave decline. On Tuesday, it snapped back ten points, jumping 10.61, or 16%, to 76.50, on 5.6 million shares. That’s the biggest volume in two months, but is it enough? I think that if it gets through 86, it could get to 100 again. Be careful with this one.
Materialise NV (NASDAQ:MTLS) had a spectacular move off of the consolidation range. It’s been in that zone for two years. On Tuesday, it exploded 2.72, or 17%, to 18.51, on 1.2 million shares. Where does this go on a long-term basis? The only way you could gage that move is by creating parallel channels to that move, which gets it somewhere in the high 20’s. I’m not saying it’s going 10 more points, but we could, short-term, see something up in the 22-24 range.
Stocks on the Short Side
Copart Inc (NASDAQ:CPRT) looks like it’s on the brink of a precipice of a rollover and slam-dunk, down another 23 cents, to 46.96, on 2.66 million shares on Tuesday. If it gets below 45.96 on Wednesday, or anytime in the next few days, it could come down to 42,or even 39.
Polaris Industries Inc (NYSE:PII) dropped 60 cents, to 77.61, on 604,533 shares traded on Tuesday. This stock is a steady decliner. The rising wedge is broken. Five-waves down and it did touch support. It might pull in this zone, but my target remains 70.
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