SPY and DIA are midrange, hard to say which way they will prefer to move. Gold looks set to break out today though it may decide to triple top. Oil is also testing resistance and may decide to break out as well.
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1 Day Trade until Tuesday
4/5 XGTI- $4.89M last traded, rel vol 1.12, Wireless Communications, 7.28M float, 17.08% short @ ratio .6, .5 days to cover, IO 2.5%, fresh PM news of completion of acquisition with was closed on the 17th or 13th, PM news yesterday of a product launch, news the daybefore 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. This is on track to hit 2.50 by the open. I think it needs to pull back before continuing on. If it holds the 50DSMA around 2.45 there could be potential for another run from 2.50 to $3.
3/5 INFI- $10.09M last traded, re lol 4.39, 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 yesterday and held it as support before continuing on. It was closing near 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. Climbed a few cents in the AH/PM, as long as 2.50 holds this could be a good swing to $3 though it lacks news, seems to be a biotech sympathy play to PULM.
3/5 AVXL- $5.71M last traded, rel vol 1.62, Biotech, 37.28M float, 16.08% short @ ratio 8.10, 8 days to cover, IO 4.83%, no news since the 23rd announcement of a presentation at a conference that took place on the 30th which seemed to lead to a late day spike. The past two days it has had 2 morning peaks taking place by 11am and closed near its highs. This reached 4.92 in the AH which is in the resistance zone between 4.80 and $5 with the following resistance being $6. I would like to see how this acts around $5 and potentially get in on the break if it can hold support.
2/5 ADHD- $5.69M last traded, rel vol 7.93, Israeli Biotech, 23.56M float, 5.96% short @ ratio 2.48, IO 30%, news from the 31st of lawyer investigation and from the 20th of the FDA accepting there NDA (new drug application). Also got downgraded on the 18th after their ADHD drug failed. Currently midrange between 1.07 and 1.80, there is also the 20DSMA at 1.47. It double topped at 1.33 before pulling back just before the close. It is currently above that 1.33 level on no volume. There isn’t much of a profit window on this unless it pulled back to 1.25 and held support.
2/5 ROYT- $3.04M last traded, rel vol 9.54, Oil & Gas, 38.58M float, .3% short @ ratio .55, IO -, fresh PM news that they were upgraded by Stifel Nicolaus with a PT of $2, news on the 31st that there will be no cash distribution on the 15th as planned and will take place sometime in March-May. This pulled back significantly yesterday before closing at the 1.50 resistance level. IN AH/PM it managed to get close to resistance around 1.70ish. The 200DSMA is also at 1.65. I’m not too optimistic about this one but if it can break 1.70 convincingly it should be on its way to $2.
PULM- $110.15M last traded, rel vol 18.14, Biotech, 13.19M float, .15% short @ ratio .01, IO 26.44%, news on the 30th of their direct offering priced at 2.50, news from the 17th of QIDP designation from the FDA. This has so many levels of resistance I don’t know how it pulled off that move yesterday but I will watch it as I suspect this is leading some other biotech plays.
ETRM- $85.98M last traded, rel vol .83, Medical Appliances & Equip, 3.48M float, 33.44% short @ ratio .09, 0 days to cover, IO -, no news since its 23rd public offering.
pulm ... what in the world?!?!
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