Acacia Communications, Inc. (ACIA), a swing trade of ours, looks like it may have just stuck its head out with a little engulfing reversal bar on Monday, popping 1.02, or 2.34%, to 44.64, on 292,071 shares traded. Volume was not big, but technicals are pretty good. We may have come out of out a consolidation, but in order to get a confirmation, it needs to take out 45 1/2. Watch this one going forward, because if it does take out 45 1/2, it could quickly get you to 47, 50, or thereabout.
American Superconductor Corporation (AMSC), also one of our swing trades, broke out, pulled back, formed a wedge, and popped off its support on Friday, followed through on Monday with a gain of 49 cents, or 6%, to 8.85, on 118,712 shares traded. I’m looking for an extension to test 10.00, and then 11.00.
Twilio Inc. (TWLO) popped with a little breakaway on Monday, jumping 6.79, or 8.4%, to 87.41, on 7 million shares. There’s a little bit of resistance. The follow-through for Tuesday could be tested around 91 1/2, followed by 99. That’s my target.
Vericel Corporation (VCEL) broke out on Monday, bouncing 1.04, or 6%, to 17.88, on 1.4 million shares, and we put a swing on it. I liked that little pop, then a breakaway gap to double tops to multi-month resistance area, then the consolidation zone, it raised to the 50, and ran up in a consolidation where the moving average crosses over and moves up. I think it’s headed to 22.
Stocks on the long side included Acacia Communications, Inc. (ACIA), American Superconductor Corporation (AMSC), BioScrip, Inc. (BIOS), Etsy, Inc. (ETSY), Houghton Mifflin Harcourt Company (HMHC), JinkoSolar Holding Co., Ltd. (JKS), Newell Brands Inc. (NWL), SunPower Corporation (SPWR), TAL Education Group (TAL), The Trade Desk, Inc. (TTD), Twilio Inc. (TWLO), Twitter, Inc. (TWTR), Vericel Corporation (VCEL), Vodafone Group Plc (VOD), and Vivint Solar, Inc. (VSLR).