CEB, CMPR, DECK, QLYS - Stock Charts to Watch
The market is still very difficult and we’re seeing a lot of pressure. It did have a nice rally in the afternoon on Thursday. Biotech stocks, and a few others, were good trades. There's lots going on, so we’re going to highlight a few shorts here, but there are both longs and shorts on the COD.
CEB Inc. (CEB) is slowly coming down. It rolled over in July, and has been coming down, bear wedging and bear flagging the whole way down. On Thursday it was down 55 cents to 70.61. Look for another wave down that could take this to 63-4.
Cimpress N.V. (CMPR) broke and has had a rising wedge for 6-7 weeks now. On Thursday it was up 34 cents to 75.09. If, and when, this breaks, it’s going to be ugly and quick, down into the mid 60’s, maybe even 60.
Deckers Outdoor Corp. (DECK) has 8 1/2 days to cover and it’s absolutely falling apart. On Thursday it was down another 19 cents to 58.76. The massive top that had been forming for quite a while, broke early this year, it consolidated for many months, and then it broke down and snapped back. The snapback initially looked like a wedge. It broke, retested, and came up into a big consolidation range, or flag, and then that broke down. Based on my projections alone, you could see this stock in the 50’s.
Qualys, Inc. (QLYS) broke down in May, and has been stair-stepping its way down in flags and wedges for four months. It broke out of a rising wedge, and on Thursday it was down 55 cents to 31.06. If it breaks underneath Thursday’s low at 30.07, it could quickly fall to 28, and then 25.
Other stocks on the long side include Conatus Pharmaceuticals Inc. (CNAT), Diamond Foods, Inc. (DMND), EDAP TMS SA (EDAP), Nymox Pharmaceutical Corporation (NYMX), Straight Path Communications Inc. (STRP), Vascular Biogenics Ltd. (VBLT), and Vitae Pharmaceuticals, Inc. (VTAE).
Stocks on the short side include Tableau Software, Inc. (DATA), Deckers Outdoor Corp. (DECK), ManpowerGroup Inc. (MAN), Mallinckrodt Public Limited Company (MNK), Cynosure, Inc. (CYNO), Qualys, Inc. (QLYS), Red Robin Gourmet Burgers Inc. (RRGB), and United Rentals, Inc. (URI).