DIA and SPY pulled back but look to be ready to reclaim gains, the SPY more so than the DIA. Gold is facing resistance but looks decent. Oil is still midrange in its symmetrical triangle pattern.
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2 Day Trades until Tuesday
3/5 CNBX- $1.75M last traded, rel vol 2.55, Weed Biotech , 19.89M float, short % ??, IO -, no recent news, looks like the quarterly report came out on the 17th with financials being released on the 20th. This stock went on a run yesterday and closed well. It pulled back twice in a cup and handle type pattern. For this pattern to continue I would like to see it pull back to $1 before continuing to potential resistance at 1.10 or on to 1.25+. I jumped in on this after it bounced back and was ready to re-break $1. It failed to continue the cup and handle breakouts it had yesterday so I got out when the pattern failed and my stop was hit. It didn’t execute right away and I ended up getting executed above my stop.
3/5 TGB- $1.89M last traded, rel vol 1.49, Canadian Industrial Metals & Minerals, 201.22M float, .18% short @ ratio .42, IO 2.30%, no recent news. PM PR today claiming future looks favorable. Not an overly volatile stock but does follow trends and has been trending up above the 10DSMA since the new year. Yesterday formed an ascending triangle with a ceiling of 1.47 there this stock has quad topped for the last week. If this can break and hold 1.48/1.50 it could be a potentially good swing to 1.80 over 5-7 trading days. This couldn’t get any volume in the morning and failed to break out later in the day as well.
2/5 ZFGN- $820K last traded, rel vol .56, Biotech, 26.01M float, 2.97% short @ ratio 2.22, IO .30, no recent news since the 6th upgrade by JMP Securities. This stock has been facing resistance at 4.35 but had a couple PM orders go through over that level which also happens to be the 200DSMA as well. The stock has not been very liquid. If it can hold 4.35 and gain some volume this could attempt to fill the gap though I don’t think it will make it over $5.
1/5 BPMX- $862K last traded, rel vol 1.49, Biotech, 60.83M float, 2.88% short at ratio 1.48, IO .8%, no recent news. Has been peeking around 10:30-11 the past few days. If this can hold .50 and get some news we might see this get a chance to break .55 along with the 200DSMA. This stock does have the ability to spike but I would like to see news.
ASM-$1.77M last traded, rel vol 1.75, Canadian Industrial Metals & Metals, 50.56M float, 3.3% short @ ratio 2.9, IO .7%, no recent news, analyst reiteration on the 24th by Rodman and Renshaw buy rating with $4 PT. Closed at resistance level of 1.75. Next levels are the 200 DSMA at 1.94 and then resistance at $2 followed by 2.30. I would wait for the break of $2.
RTTR- $2.18M last traded, rel vol 8.11, Biotech, 8.23M float, 1.17% short @ ratio 1.22, IO 30.71%, PR PM on the 30th about them ringing the closing bell, news from the 23rd of them collaborating with University of Nebraska. Quadruple topped at intraday level of 3.65 and closed at support of 3.40. I could only play this over 3.80
TGD- $1.69M last traded, rel vol 3.43, Canadian Gold, 287.98M float, .29% short @ ratio .7, IO -, no recent news.
EVOK- $4.63M last traded, rel vol 1.66, Generic Drugs, 9.5M float, 16.45% short @ ratio 1.60, 1.5 days to cover, IO 32.37%, PR at the open yesterday, midday news Monday of an upgrade by Laidlaw with a PT of $8. There is also an upgrade from the 5th by Rodman & Renshaw with a PT of $6 along with positive phase 3 data from the same day.
LTRX- $1.90M last traded, rel vol 8.62, Networking & Communication Devices, 10.55M float, .09% short @ ratio .10, IO 3%, posted earnings on the 26th, earnings analysis midday yesterday.
TNK- $4.77M last traded, rel vol 1.11, Bermuda Shipping, 115.37M float, 6.28% @ ratio 4.11, IO 31.9%, afternoon downgrade by Citigroup yesterday.
I- $4.18M last traded, rel vol 2.92, Diversified Communication Services, 14.87M float, 28.98% short @ ratio 10.8, 10.5 days to cover, IO 62.26%, midday news of agreement signed yesterday, midday news the day before that their satellite began providing service, Upgrade on the 25th by RBC Capital Mkts with PT of $6.25. Currently midrange between levels of multi-year S/R. This triple topped at 3.64 but is holding support at 3.58. Not enough of a profit window for me.
XGTI- $3.64M traded today, rel vol .87, Wireless Communications, 7.28M float, 17.08% short @ ratio .6, .5 days to cover, IO 2.5%, PM news today of a product launch, news yesterday of upgrade by Roth Capital. This was approaching resistance at $2 followed by 2.50 where the 50DSMA is also. I wanted to see this pull back after breaking $2 and see if $2 would hold due to high amount of shorts. It did briefly pull back after a candle of indecision and I should’ve entered at 2.05. Instead I hesitated, in part due to my realization that all my losses in January were floats less than 10M which my spreadsheet for 2016 told me to stay away from. It popped into the close and may yet turn out to be a good play anyway.
INFI- $9.61M traded today, re lol 4.30, Biotech, 48.64M float, 3.88% short @ ratio 2.06, IO 1.10%, no recent news since the 20th when they released some phase 1 data. This finally broke the 200DSMA @ 2.23 today and held it as support before continuing on. It was closing new its highs but the L2 seemed very heavy so I wasn’t sure if this would be a good O/N play. It closed pretty well but would have done much better without the sellers. I will be watching in the morning.
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