Turn around Tuesday? Indices plunged sharply in the morning and then rallied back and closed above resistance. Pot stocks bounced off their lows and turned around. They look like they want to trade higher.
AQ: After breaking out of a wedge formation over $11.00 last week, it formed a bull wedge/flag formation. Today it popped out to the upside and traded as high as $15.75 and closing at $15.11. If we get continuation tomorrow I would look for $16.50 and $17.00.
ARRY: A stock I have been writing about lately popped out of the wedge formation today. It traded as high as $16.75 closing at $16.28 just below lateral resistance. I would look to go long over today's high with $19.00 as the price target. Short ratio, 4.6 days to cover.
FN: Stock exploded off its base today and traded up through one intermediate declining tops line and hit resistance at the longer term declining tops line. It traded as high as $30.80 closing at $30.00. Over today's high and price targets are $32.00 and $34.00. Short ratio, 6.1 days to cover.
FTNT: Stock is in a strong up trending channel and broke through lateral resistance today. It traded as high as $47.00 closing at $46.54. I would look to go long over today's high with $50.00 as the price target. Short ratio, 4.8 days to cover.
MDXG: Stock traded up to $18.00 last month and then had an orderly pull back. There it touched the sma and lower trend line. Today it popped making an engulfing bar. Over $17.21 and we should see it move to resistance at $18.00 Above that and $21.00 is the target. Short ratio, 9.9 days to cover.
MNOV: Stock is in an up trending channel. Yesterday it had a huge reversal day but today a bullish inside day. It traded to $10.85 today closing at $10.75. If it trades through $11.50 then $14.00 and $16.00 are price targets. Short ratio, 38 days to cover so could really squeeze the stock.
MRTX: A stock I wrote about when it broke through $20.00. From there it ran to $28.80 and flagged. Today it broke through lateral resistance and traded to $30.05 closing at $29.90. Over $30.05 and targets are $33.00 and $37.00.
TGTX: Stock recently traded to $13.25 and then pulled back to $11.00. Today it popped up to resistance at $13.10 closing at $13.05. Over $13.25 and the price target is $15.00 Short ratio, 15.1 days to cover so could really squeeze if it goes.
great calls on $AQ and $ARRY today. very useful.
Hey Bob, I'm trying to test swinging positions and noticed you do a good job finding these higher priced stocks. Do you have a video explaining how you scan for these stocks or what you look for? Thanks.
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