Big move up on the big markets as predicted in my missives two days ago. Most likely we are over bought now, though, so I suspect we will get a period of consolidation in here as we are approaching an area of resistance. but I still maintain we are in a secular bull market so the trend is up and if this momentum carries through maybe we will see new highs. Biotechs have made a triple bottom as demonstrated by LABU, the biotech ETF. I thought the biotechs would lead the market but they pulled back and have now bounced off of support. Maybe this time it will be the real deal.
AQMS: Stock had a big pop to $13.07 back at the end of May. Since then it has been consolidating in a sideways channel between $10 and $11.50. Stock had a nice move to the upside today touching resistance at $11.60 and closing at $11.36. I would look to go long this stock above $11.70. Price target, $17.00.
BCOR: It is a larger float stock that has broken nicely above recent sideways channel. It is approaching a triple top area of resistance around $10.80, closing today at $10.30. A break above the $10.80 level and my price target is $13.00. Shorts nearly 5 days to cover.
CETX: Low float stock that, if I write enough times about it, I will eventually be right. Stock traded down sharply in the Brexit shake out but recovered nicely the last two days. It closed at support today at $3.47. I will look to go long if the stock opens strong with a move to the $4.00 as my first target. A break above that resistance level and $5.00 is my ultimate target.
CLRB: Another low float stock that had a big spike up at the end of May and has been consolidating over the last month. It keeps trying to break higher (4 times in the last month) but fails to do so closing today at $3.60. A move above $4.50 and this stock could see significantly higher prices. There may be a trade going long here ($3.60) with a short term trade to the break out level.
EXAS: Large float stock that has significant volatility for the size of the float. It has been making a rising channel with low volume the last few days. A move above $11.50 and I will look to go long with a price target of $12.50. Shorts, 5 days to cover.
MEET: A nice performer from my watch list last night trading above the $5.22 level and trading up to my short term target of $5.50 closing t $5.40. I will look to go long this stock above $5.50 with a $7.00 price target.
MGT: A nice winner from my watch list last night breaking above the $3.80 resistance level and trading as high as $4.22 before closing at $4.04. I will look to go long above $4.22 with $5.50 still my price target (in the next day or two).
check out LXU. they have news after hours about there "plant at its El Dorado, Arkansas facility has been producing ammonia"
thank you Bob :)
An adjustment to my watch list. MGT over pre-market highs of $4.30 is the area I am watching now
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