Remark Holdings, Inc. (NASDAQ:MARK) is the only stock on my board that was down on Wednesday, having dropped 75 cents, or 8.2%, to 8.39, on 1.2 million shares traded. It ran up, formed a 4-day consolidation, and now the support is at Tuesday’s close at 7.50, followed by 6.80. Any pullback in that zone, and I think it’s a by for a move into the low to mid-teens, and beyond.
Nektar Therapeutics (NASDAQ:NKTR) is unbelievable, going from 23 to 54, virtually non-stop for three weeks. On Wednesday, it was up another 2.02, or 3.88%, to 54.14, on 2.8 million shares traded. It’s over-extended. My final target is 59. We’re not that far away from it. It has 12.7 days to cover .
Stocks on the Short Side…..
Charles River Laboratories International, Inc. (NYSE:CRL) was down 73 cents to 102.66, on 337,931 shares traded on Wednesday. It’s a new swing and this is why. With a big run-up and a massive drop, followed by that kind of a bear flag, it’s bound to go lower. A few other stocks with this same pattern went dramatically lower. I’m looking for this one to get down to 94, 87, or even much lower.
Medidata Solutions, Inc. (NASDAQ:MDSO) dropped 2.86, or 4.22%, to 64.98, on 1.25 million shares traded on Wednesday. It had a breakdown earlier this month, snapped back, and then rolled over. Targets are 60, 56, and 48.
On the long side, stocks included Adamas Pharmaceuticals, Inc. (NASDAQ:ADMS), Conns Inc. (NASDAQ:CONN), Express, Inc. (NYSE:EXPR), Foot Locker, Inc. (NYSE:FL), Bitcoin Investment Trust (OTC:GBTC), The Gap, Inc. (NYSE:GPS), Macy's, Inc. (NYSE:M), Remark Holdings, Inc. (MARK), Nektar Therapeutics (NASDAQ:NKTR), Ross Stores, Inc. (NASDAQ:ROST), Shoe Carnival (LON:CCL) Inc (NASDAQ:SCVL), Tailored Brands, Inc. (NYSE:TLRD), and Zoe's Kitchen, Inc. (NYSE:ZOES).
On the short side, stocks included Charles River Laboratories International, Inc. (CRL), Esterline Technologies Corporation (NYSE:ESL), Finisar Corp. (NASDAQ:FNSR), Medidata Solutions, Inc. (NASDAQ:MDSO), PCM, Inc. (NASDAQ:PCMI), TrueCar, Inc. (NASDAQ:TRUE), The Trade Desk, Inc. (NASDAQ:TTD), and Wix.com Ltd. (NASDAQ:WIX).