Here are two longs and two shorts to watch in this topsy-turvy market.

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CREE

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Cree, Inc. (CREE) - Get Report

Cree broke out of a flag last week at the $28 level, held up on a down day Monday, up 5 cents to $28.93 on 2.5 million shares. Stock in the LED provider remained above lateral support, which had been the previous resistance level it broke through last week. It needs more volume, which is one of the things it was missing on the breakout. Next target is $32.00.

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XON

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Intrexon Corporation (XON) - Get Report

Intrexon had an inside day on Monday (remaining within Friday's price range), and looks like it wants to go higher. Despite dropping 95 cents to $35.02 on lower volume of 1.9 million shares (the lowest volume in about seven sessions), the stock is in a steep month-long rising channel that has seen it nearly double. The biotech company has been in the news for its work in fighting the Zika virus as well as cancer. The top of the channel and lateral resistance point to $41 and $44 next.

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FIX

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Comfort Systems USA Inc. (FIX) - Get Report

Comfort Systems USA we first highlighted as a short at $29, came down to $26, popped back up to $29, and now it's back down below $25 as it "bear wedges" its way down from its December high. On Monday, stock in the HVAC provider fell 58 cents to $24.67 on no news. It looks like it still has more room to go, with the bottom of the channel pointing to $22-to-$23.

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GPN

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Global Payments Inc. (GPN) - Get Report

Global Payments has four waves down off its December top. A fifth wave may be under way, with the stock down $3.22, or 5.8%, on Monday to $54.54 on 2.3 million shares. It tested support near its intraday low at $51.29, bounced a little bit, and looks like it's going to lower levels in the high $40's.

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This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.