February 16th, 2016

 

$QUOT - Earnings Winner from Friday. I see long term resistance around $8.00 and Support at $7.00, the next support level below that looks to be $6.15. Going to look for a dip buy opportunity if the volume is strong as well as how the overall markets are trading on Tuesday. Ideally I want to see strength at $7.00 to buy in. Intraday resistance on Friday was around $7.50. Might buy a breakout of this if it looks convincing. 

 

$MERC - Earnings Winner from Friday. Intraday support near $8.00. It had a big spike on Friday from $6.80 to $8.10 where its price action consolidated for most of the day before an additional spike up to $8.40 then back down to $8.13 at the close. I don’t like the long term chart on this one. Just a long downtrend. Going to just watch and see on this one Tuesday. If volume is strong and looks to spike the price, this might be a quick buy and sell into a morning spike or could prove to be a dip buy opportunity next week. But based on the long term chart, it may prove to be a short, but I wouldn’t jump on that right away since it was an earnings winner. 

 

$GRPN - Earnings Winner from Friday. The Longterm chart has been in a downtrend for sometime, but I like the way it looks for the last two trading days. Could be signaling a turnaround. Resistance looks to be around $2.80 - $2.90. I’m looking to buy this one if it can keep up the momentum of the last two days. If not, I think I will look for a dip buy opportunity unless the price action just turns to crap and proves the last  two days to be a fake out on the long term chart. 

 

$TRXC - Still looks to be a good short opportunity on any morning spike. It has not held any of its spikes the last several days. I see support and resistance at $3.90 and $4.20 respectively.

 

$THST - Big spikes recently and has not held its gains from said spikes. One to keep an eye on but I don’t see a clear trade at the moment. 

 

$NEOS - Possibly showing some strength after a recent dip. The volume isn't building with it though. Going to just keep an eye on it.  I see support at $8.30. I would need to see it convincingly break $9.00 or hold support at $8.30 for me to consider jumping in long on this one. 

 

 

$SSRI - I had this one on a previous watchlist looking to short because it couldn't break $6.00 resistance. Friday it closed above $6.00 but not by much. It has had a run up from $3.65 to $6.09 in the last several weeks with only a few small red candle days. If it can stay above $6.00 I may look for a buying opportunity, nothing big though. If, however, it begins to show weakness and can’t hold the $6.00 mark I will be looking to short this. At the moment I am not sure its direction, so I will definitely keep an eye on it Tuesday.