FTFT is a crypto play that spiked up huge midday, after doing nothing all morning with no significant volume, before getting halted and fading for the rest of the afternoon on Friday. However there was no significant news that I could find to cause this volatility, so I’ll chalk it up to Friday speculative plays. This stock seems to have a history of not maintaining its gains on spikes during the same day, and it has been generally down-trending since the end of last year. For now I’ll just watch this one.
TNDM is an earnings winner I’m still watching, as it is still holding its gains from the initial run-up; some sideways price action over this time frame. The stock spiked huge at the market open, going from $6.80 to about $7.40, which tells me people are still very interested in this one and that it is still capable of volatile morning spikes. It also ran up into the market close, and I’m anticipating this will gap up come market open Monday, and continue to spike.
BDR is a communication equipment play that spiked up on Friday. This company is operating out of a warehouse-looking location in New Jersey, which it just purchased recently. BDR does have huge debt issues, so they will need to raise cash somehow in the future to prevent from going belly up. It reported earnings earlier this month, and currently the price is at new highs. I’ll watch this one and look to get in on a morning dip, just because I feel there’s no clear next resistance level.
HEAR is in the same hot sector as BDR, and this stock spiked up nearly $1.00 from the market open to midday. It broke through its $4.00 resistance level convincingly towards the market close, before coming down and closing just under $4. There seems to be support around $3.85, so if the stock continues down-trending at the market open, I’ll look to see how it behaves around this level.
INTT is another technology play that spiked up on Friday, going from $6.30 to $7.30 throughout the market morning. The next resistance level appears to be the round number of $8, and support seems to be around the $6.50’s. Goal here is to get in on a morning dip, since the risk/reward isn’t ideal for me at its current price. I’ll wait for some consolidation before I make any type of move, I’ll just watch this one.
HMNY is a very familiar play that has been known to get hot, and spike huge in the past. Recently, the company announced a deal with its MoviePass service, and iHeartMedia’s widely known iHeartRadio, which filed for bankruptcy. HMNY’s MoviePass only costs subscribers $10 a month to see at least one movie per day, every day. However, Helios and Matheson Inc. reimburses movie theaters for the full price of those tickets and is operating at a loss because of this. This deal between the two, along with the fact that iHeartMedia filed for bankruptcy, tells me that these two companies need cash pretty badly, even though iHeartMedia has said it believes it has enough cash to continue to operate during the restructuring. Well, we’ll see what this new deal between the two can bring. The next clear resistance level seems to be $5.00, and support around $2.80. That means this stock is currently mid-range, which really is no man’s land, so I’ll just watch this well-known play for now.
Join now or log in to leave a comment