Swing trade Cara Therapeutics Inc. (NASDAQ:CARA) is acting much better. It broke its declining topsline in an orderly pullback, popped out, pulled back to retest, and popped again, bouncing 76 cents, or 4.5%, to 17.59, on 1.5 million shares traded. The next target is 19.25-.35, 21, and then the high 20’s.
Medidata Solutions, Inc. (NASDAQ:MDSO) spiked in April, pulled back and tested, ran up, pulled back, broke out, pulled back, and then ran up 2.08, or 3%, to 72.76, on 422,877 shares traded on Monday. The next target is calling for 80.
Mimecast Limited (NASDAQ:MIME) is a swing trade of ours that is acting well. It popped out a few days ago, pulled back, held the 21-day and trendline, and on Monday, it popped another 1.10, or 4 1/4%, to 27.00, on 378,872 shares traded. The volume is still not picking up, but the technicals look great. I could see 30-31 short-term.
Swing trade Melco Resorts & Entertainment L (NASDAQ:MLCO) snapped back for the second day, gaining 94 cents, or 4.5%, to 22.04, on 3.65 million shares traded. Both technicals and volume need to improve. It looks like a 3-wave pullback, orderly-type pattern. I’m looking for 25, and then 29 going forward.
Stocks on the long side included Applied Optoelectronics, Inc. (NASDAQ:AAOI), BlackBerry Limited (NASDAQ:BBRY), CAI International, Inc. (NYSE:CAI), Camtek Ltd. (NASDAQ:CAMT), Cara Therapeutics Inc. (CARA), Majesco Entertainment Company (NASDAQ:COOL), Amicus Therapeutics, Inc. (NASDAQ:FOLD), Ichor Holdings, Ltd. (NASDAQ:ICHR), Lumber Liquidators Holdings, Inc. (NYSE:LL), Medidata Solutions, Inc. (NASDAQ:MDSO), Mimecast Limited (NASDAQ:MIME), Melco Resorts & Entertainment L (NASDAQ:MLCO), Nova Measuring Instruments Ltd. (NASDAQ:NVMI), Oclaro, Inc. (NASDAQ:OCLR), Puma Biotechnology, Inc. (NASDAQ:PBYI), Impinj, Inc. (NASDAQ:PI), Sohu.com Inc. (NASDAQ:SOHU), SORL Auto Parts, Inc. (NASDAQ:SORL), Square, Inc. (NYSE:SQ), Sequans Communications S.A. (NYSE:SQNS), Ultra Clean Holdings, Inc. (NASDAQ:UCTT), Veeva Systems Inc. (NYSE:VEEV), and Varonis Systems, Inc. (NASDAQ:VRNS).