Cree Inc (NASDAQ:CREE) had a big day on Tuesday with earnings and an acquisition, jumping 3.70, or 10%, to 41.76, on 6.4 million shares traded. It formed an inverse head-and-shoulders, an extended V, and then moved up through resistance. Tuesday’s high at 42.80 is the highest level achieved after breaking out of a 3-year base, and it may very well run into the 50 range, which is the next target.
Everbridge Inc (NASDAQ:EVBG) broke out on Tuesday, popping 1.86, or 5.58%, to 35.18, on 608,741 shares traded, and took out the Feb high. It is now at the new, all-time, post-IPO high, and is trending towards the 38-40 zone.
Nutanix Inc (NASDAQ:NTNX) is on the move, gaining another 2.10, or 5%, to 44.13, on 8.3 million shares traded on Tuesday. It has been up three days in a row, and solidly higher, going from 36 to 44 1/2. My target is in the 46-7 zone. It may get there Wednesday morning.
Teladoc Inc (NYSE:TDOC) continues to go, advancing another 1.50, or 3.58%, to 43.45, on 1.2 million shares traded on Tuesday. After the breakout recently, we put a swing on it and it’s extending. The first target was 44-5. It reached 44.68 on Tuesday, so it’s getting close. The second target is 50.
Stocks on the long side included ACM Research, Inc. (ACMR), Baozun Inc. (BZUN), Clearside BioMedical, Inc. (CLSD), Cree, Inc. (CREE), Cronos Group (CRON), Canopy Growth Corporation (TWMJF), Cypress Semiconductor Corporation (CY), Endocyte, Inc. (ECYT), Everbridge, Inc. (EVBG), Fanhua Inc. (FANH), Hortonworks, Inc. (HDP), Intra-Cellular Therapies, Inc. (ITCI), Micron Technology, Inc. (NASDAQ:MU), NUTANIX, INC. (NTNX), SMART Global Holdings, Inc. (SGH), Teladoc, Inc. (TDOC), and Xencor, Inc. (XNCR).