Generally, an up day in the market, especially after the FOMC meeting today where they plan to leave rates as they are. Also, a big boost from AAPL gapping up $6.00 today on earnings trading 122 million shares.
The gold ETFs have been trading in a consolidation pattern over the last month. But with the USD under pressure, I would expect gold to rally in here. As such, we should see these ETFs break out if this trading range and trend higher.
Biotechs (LABU) also should be watched in here. The ETF traded up against the descending top line resistance and is forming a large wedge pattern. If it should break above the descending tops line, then we could see the biotechs catch up with some of the other strong sectors such as semiconductors and financials.
AKAO: The stock has made an orderly retrace, with a bull flag. Today, it broke out of the channel to the up side. It is also trading at the lower edge of a larger up trending channel. It traded as high as $16.87 today, closing at $16.83. I would look to go long over $16.90 with a price target of $19.00 and then $22.00.
CARA: The stock was again strong today, hitting my $17.00 target I had wrote two days ago. It traded up as high as $17.20 before backing off to close at $16.49. It did run into resistance at $17.00 from a triple top made in 2015. So, I would expect this stock to consolidate in here before making the next push. But, if it should continue higher, then $19.00 and $23.00 are the targets. Shorts, 4.4 days to cover.
INFI: Stock moved up strongly today on a Seeking Alpha article. After gapping down from the $4.00 range 6 months ago, the stock formed a basing pattern. Over the last week it has trended up off that base and today traded above the recent high of $2.39. After hours the stock is trading at $2.60. If this momentum should continue then the next resistance level is $4.75.
PULM: I traded the stock today, but not very successfully. I think its strength fooled a lot of people. It traded as high as $4.50 today closing at $3.89. I haven't verified this, but, ostensibly, a large block of stock becomes free trading tomorrow and could possibly put pressure on the stock. If not, next resistance is $5.00 and then $5.50.
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almost there buddy, a few more trades and you'll get into the $100k club
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