Tough day on Wall Street for traders (unless you were in RKDA for the $35 move). Indices were down but seemed to hold support. But we'll see what tomorrow brings. For sure, there is a rotation to ultra low float stocks as we have seen several sky rocket in the past few weeks.
Longs:
ADVM: A stock I put a swing trade on yesterday trading up close to resistance. It needs to get over $7.85 to get going. But target is $12.00.
CCXI: Biotech stock that has been up 4 days in a row and today traded up to resistance at $14.43 and closed at $14.02. If the momentum can continue then $18.00 is the price target. Short ratio, 12.8 days to cover so could add momentum to the trade.
CLLS: Very volatile biotech that had a big reversal from yesterday. Stock traded up through lateral resistance to $36.13 and closing at $35.19. Price targets of $40.00 and $45.00.
DXR: Stock popped last week from $3.50 to $7.00 It then traded to $8.75 but closed red on the day. The last two days were down on relative low volume. Today it popped again trading as high as $8.10 before closing at $7.80. If it can get through the $8.75 level with volume then price target is $10.75.
PTI: Stock exploded 2 days ago trading up to $7.40. Today was an inside day only up $.18 on the day. But after hours, the company released drug news and the stock traded up to $8.78 and now is coiling. Over $8.75 and the price target is $10.00. Short ratio, 4.8 days to cover.
SNDX: Stock spiked today through the declining tops line trading up to $13.81 closing at $13.58. I would look to go long over today's high with $16.00 as the price target. Short ratio, 5.8 days to cover.
TWTR: Stock broke out today over the base it had been building trading up to $36.80 closing at $36.60. New targets for Twitter are $39.00 and $45.00. Short ratio, 5.1 days to cover.
YTEN: Stock exploded today from $1.75ish to a high of $3.10, closing at $2.97. If momentum continues then $4.00 is the price target. Short ratio 4.6 days to cover.
Shorts:
AEIS, BIG, EPC, EXPE, NTRI, OSTK, PLAY SMG, SNHY, TRUE and TUP.
Hi Bob, thank you very much for your watch lists and information.. Have really appreciated learning from you. Just wondering how a big a stop you use on your trades? Some of these breakouts pull back for a couple days, like the ImmunoGen you mentioned from a few watchlists back, pulled back and is now breaking out again.. Thanks again for your posts!
On swings, the stops are further away than a day trade. I set the stops at major support and resistance levels. I post my swings on twitter showing the stops @turbobob129
Thank you TurboBob
http://bit.ly/2oZVJz7
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