Monday, November 21, 2016

Watchers for the 11-22-16 trading session

PTCT

Watch once more, still up a lot. Fell modestly again today, recent red session Supernovae.


OPXA

New Supernovae scan return. A 2 day move up which closed under the highs and above the open. Volume huge Monday. Eventually this can be shorted since it is up so absurdly. I suspect like many such plays it can go further than anyone expects, though. Conditional entry. On a higher open, it might yield a rapid green to red on Tuesday and spike down for a short scalp. This might even be a gap and crap. A fade on confirmed weakness cues anytime or heavy dumping on volume from or near the bell. Ideal is a flat or barely green or red open, followed by a big move down on volume to short into. Avoid big gaps, especially downward ones. Do not short into initial strength or greening. Box and drop to wait for the distribution print, if desired and avoid top fish timing fades. Keep flat on positive price action, no scalps.



RXII

Another new Supernovae. See my comments above for general approach tips. 4 up days.



CHNR

This made another new Supernovae scan, despite closing down twice recently. See my comments for OPXA for general approaches. Potential fade on weakness.



AMDA

In play both ways. As a long on continuation of momentum above 1.09/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 1/and holds. Or as a scalp sell on a pop down at or near the bell. Avoid all big gaps. Be careful maintaining a short on a reversal back over 1.05. The fade is more likely given the price action on Monday, but keep an open mind.


IRWD

Bullish Engulfing. I like this long over 16.45/holds. Low volume on the rise, which is a good sign for new buyers. Keep flat on real weakness aside from a typical red to green move, etc. Stops just under the low last time or the initial 30 minute one on Tuesday. More conservatively a stop placed under Monday's close, too. The low on that day is not too far away to use for stops. Ideally stays above 16.25 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.



TRVN

Hammer scan long. The tail is not too long to use the low as a stop level unless the position is very large. Use the previous session open alternatively instead. Trigger is above the high of last time, here above 6.49/holds. Avoid all big gaps, especially down ones. If it gaps over the trigger or 6.48 let it test/hold/perk 1st before entering. No shorts, keep flat on redness. Big buy volume, which may mean overt buy interest is underway, suggesting reversal upwards is imminent.



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