Markets traded sideways most of the day until near the end of the day when it sold off sharply. As well, gold was up sharply today and it looks like NUGT and JNUG finally woke up to the fact gold is higher.
FEYE: Stock tends to move with big gaps. Recently it gapped up through $15.00 trading as high as $16.15 before pulling back to support. The last week it has been moving steadily higher today trading as high as $16.15 before closing at $15.79. If this stock can get through the prior high then $18.00 and $19.50 are the price targets. Short ratio, 3.8 days to cover.
KEM: A stock I have been writing about and trading for some time. Today it popped out of the wedge formation and traded through lateral resistance at $14.60. It traded as high as $14.92, closing at support at $14.70. I would look to go long over today's high with $17.50 as a price target.
OCLR: Big move for this larger cap stock. It traded through lateral resistance at $9.50, broke above the declining tops line and closed right above lateral resistance at $10.48 after hitting a high of $10.93. There is resistance at $11.30. Above that level and my price target is $13.00. Short ratio, 4.1 days to cover.
TDOC: Very strong momentum stock and it was up again today trading as high as $33.75 and closing at $33.45. It is at the top of the mid channel so could be a little toppy in here. But over today's high and the price target is $35.00. Short ratio, 15.9 days to cover so should keep adding momentum to the trade.
DKS: Nice winner from my watch list last night as it dropped $1.24 today trading as low as $38.74 and closing at $39.19. I would go short under $39.00 with $38.00 and $34.00 as price targets. Short ratio 4.9 days to cover.
FRTA: Stock has dropped sharply from $20 range over the last few weeks and looked to be flattening out. But today it was of sharply again and traded below $7.00 support. Below $6.84 and the stock is headed to $4.00.
Thanks Bob!
Thank you Bob
Hi Bob - first off - Many thanks for sharing, your videos give awesome insight. Quick question, with KEM, it hasn't been in the 17's in 5 years, was it a combination of the overall ramp in the last 7 months coupled with the tech, internet & media conference they were going to have, was it the price action and volume being so much more condensed than it's previous high 5 year prior or am I totally missing the boat? Thanks for you work and look forward to hearing from you. Cheers and thanks again!
Price action. Over $12.00 it came on to my radar and had a good pattern for trading. I don't give much credence to action more than 5 years old. But the chart is what tells the story. Not sure if that answers your question.
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