Two Longs, Two Shorts

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Let’s keep an eye on opportunities both long and short in this volatile market.

On the long side, ProQR Therapeutics N.V. (PRQR) popped $1.70 to $17.48 on 464,200 shares Wednesday.  The biotech company announced it received Fast Track designation from the Food and Drug Administration for one of its medicines treating severe genetic rare diseases.  The move broke the stock out of its 2-month declining channel.  Looking for a move next to next lateral resistance near $20.75.

American Superconductor Corporation (AMSC) rose 60 cents to 11.75 on no news Wednesday.  Stock in the energy solutions provider serving the wind energy and power grid industry has nearly doubled since late October, when it was below $6.  A move through the recent high of $12.50 could get the stock to $14-15.

On the short side, GrubHub Inc. (GRUB) declined $1.35 to $75.46 on 1.9 million shares on no news Wednesday.  Shares in the provider of an online and mobile platform for restaurant pick-up and delivery orders, have dropped by 50% since its September high, and look like they want to roll over at the current level near the declining tops line.  Next target is $61-$62.

IntriCon Corporation (IIN) dropped 57 cents to $25.81 on light volume of 149,300 shares Wednesday.  Stock in the maker of body-worn devices recently bounced off the bottom of its steep declining channel off the September high, and is now in what appears to be a bearish wedge.  A failure to break through $27 could lead to a rollover towards $20.50-$21.