This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Four Stocks (Two Longs, Two Shorts) to Watch

NEW YORK (TheStreet) -- In this choppy market, we're going take a look at both longs and shorts today.

On the long side, Sanmina (SANM - Get Report) had a very important breakout on Wednesday, up $2.64, or 14.5%, to $20.90 on 4 million shares.

It jumped through the top of its five-month up-channel as well as through lateral resistance going back to last fall. It also broke through a longer-term resistance line going back four years. The next target is $27, near the top of the two-year rising channel.

SodaStream International (SODA - Get Report) popped on Wednesday, up $4.33, or 10.7%, to $44.76 on 8.5 million shares. It broke out across a double top as well as through its declining tops line and 50-day moving average, a big technical move.

Let's see if it can fill the gap from January at around $49.50. If it does, the secondary target would be at $51.75.

On the short side, ITT Educational Services (ESI) has moved back up in recent days toward the top of its down-channel, but on no positive change in technicals.

On Wednesday, it reversed down off the channel top, off 15 cents to $27.92, after trading as high as $28.93, and it looks like it's headed much lower, maybe even toward channel and lateral support in the low 20s.

Home Inns & Hotels Management (HMIN), which lost another $1.35 to $32.30 on Wednesday, has come down in four legs already. It is in a bearish wedge near the top of its declining channel, and may be due for a fifth leg down, which could take it toward $25-$26.


See Harry's video chart analysis on these stocks.

At the time of publication, the author had no position in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
SANM $23.14 0.00%
SODA $20.17 0.00%
AAPL $124.75 0.00%
FB $80.78 0.00%
GOOG $524.05 0.00%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs