It was a topsy-turvy day on Wall Street on Wednesday. After the FOMC news the market plunged, and then came back up again at the end of the day. It was a mixed session. We’ll see how it goes on Thursday. For now, let’s take a look at both long and shorts here.
Five9, Inc. (NASDAQ:FIVN) had a big reversal off of support on Wednesday, spiking up 1.38 to 10.00, or 16%, on 1.8 million shares. If it can get through 10.15-.18, it could have a quick spike to 10.90, and then 12.00. Those are the targets. With 4.7 days to cover, the volume is big.
Sonus Networks, Inc. (NASDAQ:SONS) opened at 8.51, ran up 12 cents to 8.88, or 1.37%, on 403,592 shares traded on Wednesday. It’s up just a small fraction, but the OBV is higher. This stock is coming out of a long base, and looks like it’s going to test the gap at 9.90, and if it gets through that, then look for it to move to 11 1/2. It has 3.3 days to cover.
TASER International Inc. (NASDAQ:TASR) started to move after a nice contract from Chicago. It did back off on Wednesday and close up only 8 cents to 20.78, on 2 million shares. It’s not getting the follow-through I’m looking for here. The next target is up around 24.00. It has 11.9 days to cover.
On the short side, Harman International Industries (NYSE:HAR) formed a big wedge, came down and formed a little flag, down 81 cents to 72.84, or 1.1%, on 775,735 shares traded on Wednesday. This is an interesting chart. Targets are 66 1/2, followed by the low 60s.
Stocks on the long side included ChemoCentryx, Inc. (NASDAQ:CCXI), Direxion Daily Gold Miners Bear 3X ETF (NYSE:DUST), Direxion Daily Jr Gld Mnrs Bear 3X ETF (NYSE:JDST), Eldorado Resorts, Inc. (NASDAQ:ERI), Five9, Inc. (FIVN), Inovio Pharmaceuticals, Inc. (NASDAQ:INO), Retrophin, Inc. (NASDAQ:RTRX), Sonus Networks, Inc. (SONS) , TASER International Inc. (TASR), and Vuzix Corporation (NASDAQ:VUZI).
On the short side, stocks included athenahealth, Inc. (NASDAQ:ATHN), Harman International Industries, Incorporated (HAR), Red Robin Gourmet Burgers Inc. (NASDAQ:RRGB), and Skechers USA Inc. (NYSE:SKX).