Wall Street was off marginally today, recovering from its lows. Oil stocks had a good day, biotechs, not so much.
ADXS: A stock I have been writing about since it broke above the $14.40 level. It traded as high today to $16.05, closing at $15.12. There is a lot of momentum in this stock, especially with shorts over 13 days to cover. It has doubled in price over the last few days so may be due for some consolidation. But, if the momentum continues, I would look to go long over $16.05 with a price target of $19.00
CPE: Large float energy sector stock. But it had a very strong day today and is trading right at multi-year all time high. I would look to go long this stock over $12.56 as it would break above a mid term basing pattern and especially if oil continues to move up. My price target for the break above the channel is $17.00. Shorts over 5 days to cover.
EMES: Stock has traded up from its long term base and traded up to resistance at around $14.00. Since then it has made a falling channel and today broke out to the upside of that channel. I would be looking to long this stock above $12.50 with $13.75 as a target. Above that, the stock could go to $19.00.
ERII: Nice winner from my watch list last night as I had an entry level above $12.14. Stock traded up as high as $13.15, $1.00 above my entry level and $.15 short of my target level of $13.30. I would look to go long over $13.35 with a price target of $17.00. Shorts nearly 4 days to cover.
GLOG: A stock I have been watching over the last 2 weeks and today appears to have broke out of its basing channel. I would look to go long over $14.75, but it cold run into resistance at $15.00 A break above $15.00 and my price target is $19.00. It is trading at the lower side of the rising channel it has formed. Shorts, over 6 days to cover.
KTOS: The stock popped on strong earnings report trading right up to resistance and closing lower at $5.60. If the momentum continues, I would look to go long over $5.80 with $7.00 as my price target. Shorts, 10 days to cover.
REN: Stock had a large break out gap a few weeks ago and formed a down trending channel. The last few days it has broken to the upside out of that channel. I would look to go long above $8.90 with a price target of $12.00.
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