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