Cymabay Therapeu (NASDAQ:CBAY), an old swing of ours, is acting well. From the breakout and base, the pullback, and then the breakout in May, this stock has been moving up steadily, and it formed a wedge. It has a mid-channel line, and the recent pullback was taken out on Tuesday, as the volume thrust to 1.3 million shares traded, popping 85 cents, or 11%, to 8.73. It looks like that if it takes out the recent highs, it could run up to 10, 11 3/4, even as high as the 13-4 zone over the next week.
Conns Inc (NASDAQ:CONN), a retail stock, has been phenomenal since the March low when it was trading under 8 dollars. On Tuesday, it jumped 4.45, or 17%, to 31.30, on 2.4 million shares traded, the high 32.00, now up four-fold. That’s the biggest volume since April-May. I’m thinking this may accelerate to the top of the channel, and then make a move to the low 40’s. So, my two targets are 35, and 41-2 going forward. It has 10 days to cover , and I think the shorts are on a squeeze here.
Lumentum Holdings Inc (NASDAQ:LITE) has a very strong channel and a very strong pattern. It broke out of a base on Tuesday that took a couple months to develop, and popped 3.60, or 6%, to 63.10, on 3.7 million shares traded. That’s the biggest volume in about 8-9 weeks. There is resistance overhead at about the 65-range. If it gets through that, the target is 68-9.
Nutanix Inc (NASDAQ:NTNX) is acting great. Looking at the chart from Tuesday, most importantly, it looks like it came out through a double top after going back two days ago. That consolidation above the key level is where it broke out, jumping 1.49, or 5.63%, to 27.95. With the volume at 5.6 million shares traded and 5 days to cover , it looks like 30-1, and then 33-4 are coming soon.
On the long side, stocks included Cymabay Therapeutics, Inc. (CBAY), Concert Pharmaceuticals, Inc. (CNCE), Conns Inc. (CONN), Majesco Entertainment Company (COOL), General Motors Company (NYSE:GM), Lumentum Holdings Inc. (LITE), NeoPhotonics Corporation (NPTN), NUTANIX, INC. (NTNX), Overstock.com, Inc. (NASDAQ:OSTK), Polaris Industries Inc (NYSE:PII), Fang Holdings Limited (SFUN), Social Reality, Inc. (SRAX), Tailored Brands, Inc. (TLRD), Volt Information Sciences, Inc. (VISI), and Xunlei Ltd Adr (NASDAQ:XNET).
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