9 To Watch Today: ADAD, Alerian, AXS, SAN, BWLD, CNK, CTRP, CXO, CZZ
Tim Knight | Sep 27, 2017 12:17AM ET
Tonight I think I’ll share some of my favorite shorts – – I only got through the first three letters of the alphabet before I had enough symbols, such we’ll just do A through C. These are all “live” positions, and they’re all short (naturally).
First up is ACADIA Pharmaceuticals Inc (NASDAQ:ACAD), which has a well-defined diamond topping pattern (as always, click on the SlopeCharts image for a bigger version).
Alerian Master Limited Partnership is coming up against an important gap.
Axis Capital Holdings Limited (NYSE:AXS) has busted a long-term trendline and has a very well-formed topping pattern.
Banco Santander (MC:SAN) had a gap down which seems to have permanently fractured the stock, so there’s a very clean division between support and resistance.
Buffalo Wild Wings Inc (NASDAQ:BWLD), purveyor of fine cuisine to middle America, had a sensational top.
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Cinemark Holdings Inc (NYSE:CNK), purveyor of fine cinematic arts to middle America, also has a terrific top, as well as a busted long-term trendline.
Ctripcom International Ltd (NASDAQ:CTRP), which I suppose had nothing to do with middle America at all, also has a busted trendline.
Concho Resources Inc (NYSE:CXO) has been violently lurching up and down for months now, and we seem to be approaching another intermediate-term reversal point.
Lastly, Cosan Ltd (NYSE:CZZ) has a massive topping pattern (above the blue line), and we’ve been carving out a series of lower highs recently beneath the aforementioned pattern.
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