This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

2 Longs & 2 Shorts to Watch

NEW YORK (TheStreet) -- As the market remains volatile, we're going to continue to look at both longs and shorts here.

Electronic Arts (EA - Get Report) exploded on Wednesday, up $5.90, or 21%, to $33.40 on 24.8 million shares. That was a clean breakout. The stock's been in an upward trend since 2012, and now has a target in the $38 to $40 zone.

Penn Virginia (PVA - Get Report) also did very well on Wednesday. It's one of the best in the junior oil sector. In less than a year, it's gone from $5.00 to $18.00, and on Wednesday it was up $1.59, or 10%, on 6.3 million shares. It opened Thursday at $17.91. The top of the channel projects to $21, which is the target.

On the short side, WageWorks (WAGE) is getting crushed. It rolled over in February, stair-stepped its way down, with a few breakouts along the way, and on Wednesday it was down another $2.90, or 7%, on low volume. It's right on the support zone and near the gap. It may get a bounce, but if it breaks here, it could drop another 3 or 4 points. The stock opened on Thursday at $37.25.

Workday (WDAY) looks interesting. It spiked up in March, but reversed itself, and formed several bear wedges. The declining topsline is still intact. It was down $5.78, or almost 8%, on 6 million shares on Wednesday. Based on the pattern and level of support, it would not be surprising to see this stock take a shot at $60 to $61 before it reverses. Thursday just after the open, Workday stock was trading at $67.85.

Other longs to watch are Chesapeake Energy (CHK) and Nabors Industries (NBR).

Shorts include Barrett Business Services (BBSI) and ServiceNow (NOW).

See Harry's video chart analysis on these stocks.

>>Read More: Stay Away From Infosys

>>Read More: Video: Silver Volatility Hits a Decade-Long Low, and Here's How to Trade It

>>Read More: Why HP May Be Next Cloud Bubble to Pop

At the time of publication, the author held no positions 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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
EA $56.08 -0.02%
PVA $7.28 3.85%
AAPL $124.24 0.70%
FB $83.01 0.11%
GOOG $555.17 -0.65%


DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs