Wednesday, April 19, 2017

Watchers for the 4-20-17 trading session

CBLI

Watch once more see my previous comments. Rose a lot but still a possible fade on weakness. Initial red session Supernovae the day prior.


RLGT

New 52's. Short term, these yearly high stocks often go higher. Consistently strong price action, like trading above the opening price level after the first 5 minutes, is a long. Or, if it gaps down a bit to debut or opens flat and falls briefly, a red to green and hold with strong volume. Also long on spiking up at or near the gun as a scalp. This might be an EOD exit, depending on how it holds up. Also long on a break above to new yearly highs (over 6.20) and holds. Avoid shorts, keep flat on true weakness. Nice move above 6. Needs to keep above the Wednesday close, or at least above 5.75 on pull backs to remain viable as a long, aside from any early noise. Early sustained prices over 6.07 are ideal for aggressive entry.



QBAK

In play both ways. As a long on continuation of momentum above 5.77/holds. Or as a scalp up at or near the gun for a scalp buy. Or, as a short on a fall fail of 5.50/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 5.60. The fade is more likely given the price action on Wednesday, but keep an open mind.



NADL

Bullish Engulfing. I like this long over 2.04 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 Thursday. More conservatively a stop placed under Wednesday's close, too. The low on that day is too far away to use for stops. Ideally stays above 1.80 on pull backs to remain viable as a long if it triggers. No big gaps or shorts.



ELGX

B/O scan. I like it long back over 6.75 and holds. Ideal to stay over that on tests aside from early noise if it triggers. Stops also possible just under the close on Wednesday or the 1st 30 minute low of Thursday. Avoid all shorts and all big gaps. The low on Wednesday is not too far away to use for risk managing stops. Also a long on spiking up at or near the gun as a scalp. Modest volume on the rise, a fair sign for new buys. Exiting below 6.50 on fails after trigger entry is possibly advisable. Early r/g buy?



VG

Parabolic Sar scan. I like it long over 6.53 and holds. Moderate volume on the rise Wednesday, a tepid sign for new longs. Place a stop under the close Wednesday or the 1st 30 minute low Thursday. Keep flat on all big gaps and avoid shorts. Long too on spiking up at or near the gun as a scalp. If it gaps over the trigger a bit, wait for a test/hold/perk to enter.



NLNK

I like this long over 19.20 with strong volume. It needs to hold over 18 on a test to remain/be viable as a long. Possible early red to green long entry if it opens weak. Also a long on spiking up at or near the bell for a long scalp. Keep flat on real weakness or a fall fail at 18 if tested. Avoid all big gaps, as usual. 



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