NBEV, CRON & APHA are the weed plays I’m watching, APHA I looked to buy overnight, intraday chart was very clean but it has resistance @ 6.60 and has already bounced 60% off its lows - I'd rather long the 6.60 b/o level instead, NBEV I also considered buying but didn’t as it hasn’t spiked on day 3 since the September run - I’ll watch for a secondary morning spike gain. CRON is worth watching given the recent Marlboro investment, I’m watching for entries @ $12 support or on a breakout over $13 resistance.
AKAO is another biotech I’m watching, ideally this can consolidate + breakout over 1.80 for the $2 resistance test - daily chart is super squashed but it’s a former runner - watch for news/volume.
INNT is another former spiker, this stock is choppy so I’ll watch for news/volume to push towards 3.30 resistance - thinking traders may preemptively buy for the ‘January Effect’
MYOS had some pretty solid news but stayed range bounce between 1.50 and $2, history of running isn’t great but today’s volume was strong - I’ll watching for a b/o over $2 with volume.
UXIN is up on Alibaba partnership, tough to play now it’s had 4 straight green days - I’ll look to guy into dips @ 5.30/5 which was a previous floor.
ONCS watching for followup news + morning spike - looks to have bottomed on the daily chart - needs to confirm spikeability.
3 rules - only trade stocks for which you can;
A - clearly define risk predicated on prior support levels
B - objectively ascertain your profit/loss potential
C - expect a sizeable moved based on a catalyst i.e. news/pattern/sector
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Thanks for your insight Jay. I've played UXIN each of the past 4 days and have made money on 3 of the 4. I suspect you're correct that playing a 5th day even with the Alibaba deal is chancing it. I must admit that NBEV, $CRON, INNT and $ONCS are also on my watchlist for the reasons you stated plus these are all previous runners that hold their spikes well. I've been shying away from APHA because of the looming lawsuits and hate mail flowing back and forth between the C-level, board and la
Precisely! :)
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