CVI, ANF, GPRO, BMC Among Charts to Watch

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It was quite a negative day on Wall Street on Wednesday, and since we didn’t go over the Boxer Shorts on Tuesday, we‘ll take a look at some of the ones that are looking pretty ominous.

CVR Energy, Inc. (CVI) dropped down 3.57, or 16%, on 13.6 million shares on Tuesday. It closed right on the neckline of about an eight-month massive top formation. If 18.38 is taken out, this stock could slide into the mid-teens pretty quickly.

Abercrombie & Fitch Co. (ANF) is a stock that we’ve been talking about for quite some time now. It ran back up to test the double-top, fell, and rolled over hard with a big gap down. It dropped 7.60 to 48.10, or 13.6%, on 22.4 million shares. A massive liquidation. More downside may be had at this point. Look for something down toward 41, and then the mid-30s.

Gen-Probe Inc. (GPRO) has had a beautiful run up the first part of the year, it reversed sharply May and June, came down sharply from the 81-2 zone down to the mid-50s. It bounced around for a few months and formed a potential bear flag. If it cracks to the downside, look for something in the 54 range short-term. If it reaches 54, then it could go all the way down into the mid-40s.

BMC Software Inc. (BMC) got hammered in July and August. It went from 56 down to the mid-30s. It bounced around, rallied back to the 50-day, came down 4 times, and keeps failing to get through the 50-day moving average. There’s a rising wedge that appears like a bear wedge, or bear flag. Look for a retest of the lows down around 33 short-term, and 30 – 31 intermediate-term.

Other stocks in our Charts for the Day are HollyFrontier Corporation (HFC), Edwards Lifesciences Corp. (EW), TRW Automotive Holdings Corp. (TRW), The Ensign Group, Inc. (ENSG), Franklin Resources Inc. (BEN), China Yuchai International Limited (CYD), OpenTable, Inc. (OPEN), The Scotts Miracle-Gro Co. (SMG), Kraton Performance Polymers Inc. (KRA).