This is my first watchlist that I've posted and I only started trading last week. Any feedback would be greatly recieved!
Watchlist for Monday 6th March
$TXMD
Bio-tech stock specialising in Hormone therapy pharmaceutical products for women.
- Really interested in this stock - I might even hold for a day or two as I think it could be a solid buy and I'm under the PDT rule. $TXMD seems under appreciated.
- Earnings winner, which has spiked on solid 4Q and 10K financial reports over the past week.
- Really nice looking gradual uptrend with the chart over the past 2 weeks - it's also broken its 200 day moving average.
- Analysts are predicting very solid sales growth for 2017, with the average price target for the year at 20.44.
- News release at 4.30pm on Friday: "TherapeuticsMD Announces Presentation at Cowen and Company 37th Annual Healthcare Conference on March 7"
- Up 4.63% on Friday
- Only thing I would say is that it has a high float - 153.41m and and 68.75% are short. If it can break the 7.0s maybe we can see a short squeeze all the way to the 7.50s intraday - that would be shweet!!!
3 Month Resistance @ 7.09
7 Month Resistance @ 7.50
Multi month Support @ 6.63
So despite this having a high float this is definitely #1 on my watchlist come Monday morning.
$RNVA
Provider of industry-leading diagnostics and supportive software solutions
- Had this winner on Friday, should of held on for longer as I was out at 2.79 and a few minutes later it was into the 3.20s, but it was soooo volatile I got scared and took safe profits.
- There could still be a further continuation to the reaction to an Investopedia article which listed it as one of the five penny stocks to outperform in 2017. There was also a press release which stated they are planning to open a hospital in the 2Q and have opened a jobs portal to recruit new staff.
- Only two weeks ago this stock was trading at $0.06 so we have to be careful. Low float (1.58m) and huge trading volume on Friday. I have no idea how this is going to play out, but it's definitely on my watchlist.
- At the time of writing, the stock is trading at 2.95. I'll be watching this closely prior to the market open tomorrow. If it breaks 3.00 I'll wait for a pullback and take a position. I believe that breaking resistance at 3.15 it could go on to run past it's high of 3.27 on Friday morning.
- Would NOT want to be long in this company if it breaks down past 2.75!!!
Support @ 2.75
Resistance @ 3.15
$MGTI
MGT Capital Investments - Cyber Security
- Previous Supernova from May 2016, this company could still run on news that its Bitcoin Mining Pool is scheduled to be fully available to the Bitcoin network early in the second quarter of 2017
- I remember when this spiked BIG last year -- John McAfee (CEO) was supposedly pumping it, but this recent development with the bitcoin news could be a game changer.
- The fact that this company is affiliated with Bitcoin alone is enough to get me interested. Bitcoin is HOT at the moment and recently has overtaken gold in value. I believe that the value of Bitcoin will continue to Skyrocket over the next few years as certain currencies (namely the EURO) could be on the verge collapse... a new digital cryptocurrency???
"MGT is growing its capacity in mining Bitcoin. Currently at 5.0 PH/s, the Company's facility in WA state produces about 100 Bitcoins per month, ranking it as one of the largest U.S. based Bitcoin miners. Further, MGT is in active discussions with financial partners to grow Bitcoin output materially."
- Only 12% of shares in float are short -- could we witness a huge short squeeze on Monday? I'm going to watch this one closely... I think if it can break resistance at 1.50 it can go on to rocket into the 3s
- If it can break 1.45 it will be hitting multi month highs, on the other side, if we see it drop towards the low 1s I'll have no further interest in the stock. Wouldn't want to be short on it though!
- The stock is trending well above it's EMA so there is technical downside potential. I wouldn't be surprised if it dropped massively come Monday, either way - definitely one to watch!
Support @ 1.06
Multi Resistance @ 1.45
I think it's a good list and good research! And for someone to tell you to focus on your trading well.. yea maybe you should just watch one person and wait for their list and decide if it's for you. Lol that seems lazy and like a follower to me but anyway be a leader not a follower and put up more if it helps you study!! Study hard!!
@Hfidad Everyone has there own preferences when it comes to trading! Thanks for the feedback man, really appreciate it! It's all about the dedication and study if you want to make it as a successful trader!!
To true! Studying now getting ready for a new week hoping to not make same mistakes! Have a successful week!
@Hfidad And to you dude - best of luck for the week.
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