The NDx sold off hard today and the SPX was not far behind. The NDX is very volatile. There seems to be a lot of over head resistance at around 4900. If it doesn't hold this area then 4660 is the next support. The Dow Transportation index continues to be very strong. though, now, it is trading at the top of the up trending channel. Energy stocks were also the big winners today, though they sold off into the close.
ATW: The stock broke through both a major declining tops line and double top formation to trade up as high as $10.64 closing at $10.37. It is oil related, so if the energy sector extends its rally then this stock should benefit. Price target $13.50. Shorts, 6.6 days to cover.
ERI: After bouncing off support at $10.65 early this month, the stock surged up to $14.00. From there it made a nice bull flag and today popped out to the upside trading as high as $15.35, closing at $15.25. A break above these highs and the stock is in all time high territory. Shorts should be getting nervous with a 13.25 days to cover. Price target $17.50 and then $22.00.
TYLS: Stock exploded out of the gate this morning on very positive earnings report. It was up $4.13 today closing at $14.00. I would look for a continuation of this move tomorrow with $15.00 as the price target. Shorts 4.3 days to cover.
FLO: I wrote about this stock yesterday for a short. It looks to be coming to the end of the 4th wave of a 5 wave pattern. And if history should repeat itself, this stock should drop quickly to $12.00 from an entry level of $15.25. Shorts 14 days to cover.
I want to take the time and say I really appreciate your stock anlysis/commentary. Thanks.
Second that ^ Thank you very much, Bob!
nice analysis , i m learning and i will start with my first 2k account in january 2017.
I appreciate the comments, thanks.
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