HMNY is the big gainer that everyone is talking about. News about their deal with Verizon’s MovieFone, coupled with an afternoon short squeeze, caused this stock to run all afternoon into the close. The stock gained over a $1/share on the day, and even had some good afterhours movement. Currently long a position overnight and goal is to sell into a big morning spike.
CGIX is a healthcare play that gained the most on Monday after receiving its FDA clearance; however, this stock has been down-trending since last July with barely any upward swings. In its most recent SEC filing the company admits it has “a history of net losses; we expect to incur net losses in the future, and we may never achieve sustained profitability…From our inception in April 1999 through December 31, 2017, we had an accumulated deficit of $134.8 million.” Even though it gapped up at market open, and had a decent morning spike, it faded immediately afterwards before consolidating. There was another spike in the afternoon but even that couldn’t hold as the stock faded for the rest of the afternoon. If this stock can’t even hold its intraday gains, then I’m not interested. I’ll just watch this one for now.
I jumped again today as it has done every day for the month of April. Today the company announced it was given a deal by the FAA to develop and operate a satellite payload to aid aircraft navigation. This stock has run all the way from $3.50 to its current price of $8.41, and the next resistance level seems to be around $10.00, so this has plenty of room to keep going. The only question is can it keep rising, being that it’s already up so much? I’ll keep an eye on this one, but will not chase. I expect it’ll be back on my radar as it’s expected to report earnings next week as well.
HEAR spiked up at the market open and then faded immediately afterwards. Spike was most likely caused by orders placed over the weekend getting executed, since there was no real catalyst for its gains today. Throughout the day this stock maintained a sideways price action, so no play for me. I’ll just watch for now.
SRNE is a biotech that gained 11% on Monday, which recently announced it would start screening patients for its T-cell therapy drug development program, following an FDA review allowing clinical trial initiation. However, today this stock was mentioned by Cramer as a potential speculative buyout. The mere fact that CNBC has it name attached to this stock makes me want to stay away, even though it has been up-trending since the beginning of April. Currently the stock is mid-range, and I’ll just watch it for now. Let’s see if it can continue to gain, even after Jim Cramer attached his blessing to it.
TNDM is the latest earnings winner I’m still watching, as it once again held its gains today, going from $7.15 at market open to its closing price of $7.59. The pattern with this one seems to be a huge morning spike, followed by consolidation and sideways price action for the rest of the day. As long as this one keeps running, then I’m still interested. Will look to get in on that initial morning spike I’m anticipating.
RGSE, EYEG, UEC are other top gainers that are on my radar for Tuesday, however these are ones I’m just going to watch.
Thanks for the notes!
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