Watchlist for 4/4/14

NVLX - Continued to trend higher following the nice descending triangle breakout the other day. Still looks good for a test into the low .50s tomorrow or monday.  Good history of multi-day runs. Needs to hold above .43c tomorrow to keep the momo alive.  if it gaps up then it needs to stay green.

BCCI - Broke out of similar pattern to NVLX. Looks great for another big up day tomorrow up into resistance around .12-.14c  We tweeted out this setup this AM when it started breaking out and then it went on to close out on highs. Watch for prior high break to keep trade alive.

ITNS - Still in this really tight bull flag that should get resolved soon. Needs a move above .02c tomorrow to snap above the flag portion then it should be open for a move to recent highs up at .03c

MPET - Another one we tweeted out earlier today when it broke above the bull flag pattern on the daily chart. It went on to close on highs and looks good for some more momo tomorrow. Looking for some more follow through tomorrow up to 1.80 which is big resistance.

MINE - Bull flagging on the daily chart, & it might not breakout of the flag until next week but its pulling back in the last few days on really light volume which is very bullish. I think it might be good idea for a dip buy tomorrow against the bottom of the flag which is around .025c with the expectation of it returning back to the top of the flag around .035c then perhaps next week it breaks above the flag.

FITX - Wedging / Bull flag on the daily/weekly chart, needs to break out above .09c to get out of the wedge. Wait for the break.  should be clear up to new 52w highs.

 

 OPTIONS

LNKD - Looking for a reversal candle to form tomorrow for a bounce play. Today it closed on the bottom of the desending channel its been in since Aug. However in the last few days its dropped almost 9% I think is getting a little oversold.  Ill use my reversal candle strategy (view charting section to learn it) .

FB - Bear flagging on daily chart, if it breaks under 59.34 tomorrow it might see a drop down to fill the gap left back in Jan from earnings. Looking at taking some monthly 55x puts for a swing short down to 55ish to fill the gap

GMCR - Short setup here its been forming a descending triangle following its huge rip higher after its last earnings report but some of the similar names have been showing some weakness as of late which could lead to some selling in GMCR. Might get some next weeks 105x puts for 1.20 tomorrow and see if we can get a crack below 107.  Under 107 should make GMCR heavy down to big support at 104. 

 

NFLX - Cant get off its low. This stock was my one short idea for 2014 in our ChartSpam section of the site and were calling for a drop down to the 275 level which at the moment looks very realistic to happen in the coming months. However in the short term NFLX has been hanging on its dead lows and is looking like 350 might snap.  Gonna grab some puts for next weeks expiry because it really does appear as if NFLX is going to fill in the full gap left from earnings back in Jan down to 335…. Premiums are very high so this might be good spot to utilize a putspread or a wide butterfly with 335 being the target spot for next week.

Remember this is just a watchlist and do not guarantee to be profitable trades. Use your own judgment when making the trade.

Sign up for our free newsletter!!!

Comments are closed.