Stocks to watch for August 3, 2017

 

(well im in the doghouse for a week. I forced a second trade on MTBC thinking it would continue running into a/h and lost big (around $1400 big ones). This now put my IB account under 25K and because of that I had to reset my account to be under the PDT rule again. This takes 5 business days apparently…so enjoy the watchlist while I get to sit on hands….gonna be the longest week of my life)

 

As Tim Bohen said today, a lot of penny stocks are shit right now. Not much in play, but these larger priced stocks are moving. Esp since a lot earnings are being reported right now. Q2 earnings are coming out so look for multidollar plays in these bigger stocks.

 

MITL – deft overbought here. Trading nearly $3 above the offering they have in place. Lots of green daily candles. Waiting for first red day. Lots of downside potential imo.

 

ESIO – earnings winner. In blue sky territory. a/h high is 10.60. so over that look to go long

 

OCLR – a/h earnings winner. Touched 10. Over that, targets are 10.30, 10.50 and 11

 

FORM – another a/h earnings winner. Beat by .12/share. a/h close at 14.15, but there is some resistance at 14.30 so a trade over that, look to go long with targets of 14.70 and 15.30

 

TTMI – coming down hard a/h. negative earnings. Missed by .04/share. a/h close of 15. Right at a whole number, so a trade under 15 I’d attack the short.

 

HIVE – earnings loser. 52 low is 3.70. a trade under, I’d attack the short

 

HK – earnings loser. Missed by .03. a/h closed at 6 but there is support at 5.80 so instead of shorting the whole dollar, wait for the support to break and then short.

 

FIT – positive earnings, but a/h was choppy. Spiked and came down over 40 cents quick. If it can break the resistance at 5.80 then a long play is possible otherwise ignore it. Long term chart bad sushi.

 

Now let’s get back to the penny stocks:

 

IPI – strong move over the last few months and its now an earnings winner. Over 3.60 I would look to go long with 4 as a target.

 

MTBC – we’ll see how earning go. Over 2.40, look to go long.

 

XXII – iffy here. Company is screwing up by not getting news out. Wait and see. Still short biased though.

 

TEAR – deft cannot maintain its gains. Short into big spikes

 

 

NOVN – I still think this can come down to the low 4’s

 

AVEO – somehow this stock has been oscillating between 2.40 and 2.60 for a while, but today it cracked 2.40. it did come back to close at 2.45, but it has a ways to come down. Under 2.30 I will attack the short

 

ZNGA – missed by .01, however rev’s by 15% this quarter. Closed right at long term resistance. Would rather wait to see it break the whole dollar at 4 with 4.45 as a target. If it breaks out beyond that, high 5’s are not out of the question. Iffy about the earnings report though. We’ll have to see how the market reacts to it.

 

DRYS & TOPS – fuck me. I was stalking DRYS. Cant believe I missed it. Both of these are still a good short into any spikes.

 

Backburners: DCTH, ENVV, RETC, LBUY, NSRPF, IMGN, AKS, APRN, TTPH, OMNT

 

(green = potential long, red = potential short, gray = wait and see)