Wednesday, August 23, 2017
$THC big red day with nice bounce off bottom towards vwap fail. Watching for continued fade tomorrow for $15.50 break and fade down to $15 or lower. Risk at $15.75 prior day resistance.
$BITCF had strong bounce back today. If gaps up o/n into premarket it always spikes then pullback in first few minutes. If gaps up will buy premarket and sell into first 3 minutes and watch for grind back to $2, it gaps down will look to short for big pullback, could be $.50 plus on pull if it does.
$MOMO huge range with giant pullback today. These Chinese stocks never surprise with range. Will watch for more fading for a potential big bounce. Support was around $36.25 so will look for that to hold and make higher lows before buying. Otherwise more shorting but will be on SSR so watch traps.
$BZUN another Chinese stock with big range. This stock pulled back with more gap to fill if it fails again tomorrow. Next support is at $23.50 but watching for bottom bounce if holds $26 over/under. Resistance around $29.
$DSW Earnings winner that gapped up premarket. Tried to short too early but faded into close which means longs may look at stock price and want to sell. Watching for weak open then pops towards $19.25 level. This stock has tons of overhead resistance which means it will struggle to break $19.50 unless gets serious volume and traps shorts for a squeeze. Won’t fight the trend just look to join.
$DRYS stuck in a channel between $3 and $3.50 but down the last couple of days. Will look to short if it breaks below the $3 mark as gap to fill down to $2. Still decent volume and we all know the overall chart is crap. Will watch for a trap as they love to do that with this stock. $3.30 resistance level.
$LBZ after hours e/r miss. Stock dropped $5 on miss. Will watch for more selling tomorrow. My guess is going to be perk in the morning as shorts cover and longs think they are getting a deal then watch for more fading. Support at $26.30s but like $DSW won’t find the trend. Similar to $DKS.
Others on watch: $TSEM $JMEI $TVIX $AAOI $HTZ $SNAP
Posted Aug 22, 17 8:49 PMbypsk2329
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