Mixed session today for the indices. Quite choppy with the minutes from the FOMC released today.
AKAO: Stock just keeps powering ahead making another new all time high trading as high as $24.08 before closing at $23.62. This stock has put on nearly $6.00 since I first mentioned it last month. It met my target price today and has broken through the up trending channel line. It has been powering ahead with only 1 down day in the past 3 weeks. But, if momentum should continue then the next price target is $25.00.
EMES: A stock I had been writing about since the $15.00 range now trading at $23.49 having traded as high as $23.65. It has also been up strongly for the last 2 weeks as well. But it appears to have good momentum and I would look to go long over today's high with $27.00 as my price target. Shorts 4.8 days to cover. Some caution as earning will be release in 5 days.
INAP: The stock had been in a long decline and then made a sharp V bottom reversal from $.80 up to $2.00 back in December. It then formed a coil and today broke out to the upside surging to $3.00, closing at $2.31. It has resistance at $3.00 But if it can break through that level then my price target is $4.00 and then $5.00. Shorts 11 days to cover so probably added a lot to the momentum today.
INSY: Another pot stock moving strong. Two days ago it broke out above resistance at $11.25 and traded up today as high as $13.56 closing at $13.48. It has broken through the declining tops line. I would look to go long over today's high with $15.00 as the price target. Shorts, with 13.3 days to cover could add momentum to the trade. Some caution, though, as earnings are coming out in 6 days.
LNTH: A stock I had alerted from several months ago at $11.00. But I was busy trading MBOT and missed the trade. Stock surged up $2.80 today trading as high as $12.50 before closing at $12.15. I would look to go long this stock over today's high with a price target of $15.00 and then $17.00. Shorts 3.8 days to cover.
SQ: One to watch closely tomorrow. The stock is in a strong upward trending channel and had been forming a bull flag. Today, at the bottom of the channel it exploded higher to $15.22. Earnings came out after hours and the stock traded up to all time high resistance at $16.40. I would look to go long over $16.50 as this stock could really run as there is no overhead resistance now.
TELL: The chart pattern for this stock reminds me of REN and MPET. The stock spikes, then consolidates, spikes and consolidates. Today, it broke out of a wedge formation up $1.62 trading as high as $15.20 and closing $14.91. I would look to go long this stock over today's high with a price target of $20.00. Shorts, 4 days to cover.
Shorts, days to cover is just a number that I use as a guide. Shorts don't have to cover. I find the number by dividing the reported short interest by the 100 day average volume to give me my number. (days it would take all of the shorts to ocver their position if it was average volume and they were the only buyers). Under 5, not much effect. 5-10 and associated with a catalyst, it will add momentum to the trade. Over 10 and a catalsyt, let the fireworks begin.
love your watch lists --> very simple and straight to the point
thanks
Yup ! Awesome and thanks for sharing
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