Hey everybody. Just sharing my watch-list for Thursday, June 1st
I have a small position in Mannkind (MNKD in with 1,100 shares at $1.80 a share) long overnight. On 5/10/17 MNKD had a break out from good earnings, it failed to hold the break out but it did not drop hard as it has every time it went up in the last 5 months, that means it broke its down trend that it has been stuck in for months from good earnings news and also more news and filings have helped take some weight off and keep it afloat since. In my opinion it has now formed a clean breakout pattern and has a good chance for another break-out based on tecnicals and also hype from the news will help give it some vol/liduid to get moving, it has been green 4 days in a row now... After earnings break-out it had a steady down trend for a few days before it found its support at $1.00 and has been on a gradual uptrend since. I do believe from the post market news "Mannkind and Biomm enter into distribution agreement for Afrezza in Brazil" (Under the supply and distribution agreement, Biomm will be responsible for preparing and filling the necessary applications for regulatory approval of Afrezza. Upon satisfactory approval from these regulatory bodies, Mannkind will manufacture and supply Afrezza to Biomm, and Biomm will be responsible for promoting and distributing Afrezza within Brazil.) After this news came across the scanner and i looked at the chart and recent news & filings, i do believe it will break-out and if not it should atleast double top at $1.92 it will need to get through resistance between $1.90 & $2 Will be paying close attention to what it is doing on L2, 5 minute chart and a 1 minute chart. MNKD closed red today, it opened for sharing at 9:30am at $1.71 then closed $1.52 thats -13 cents (-7.88%) after the news of distribution agreement was released at 6pm it was then MNKD closed at $1.81 post market +.29 cents (19%). The float on this stock is 95.77m out of 101.01m shares outstanding, Market cap 182.82m, average volume 4-7m.
I made an impulsive re-entry on CYTR after i sold 10k shares today that I bought Tuesday for .75 cents a share and sold today for .90 cent a share. After i sold in the morning spike it could not break past .92 and there was a panic i thought was leading to a crack but it got a bounce and it had some strength behind it, i impulsively bought 5k shares at .83 cents around noon when it was showing signs of strength, ill be honest i said it was impulsive because it was i took my profits on the predictable part of the piece and then re-entered into strength, going to watch and let the chart and lvl 2 tell the story of when to sell only aiming for small gain as its having a ton of resistance in low .90s i only trade the ticker on this one not the company, or so called phase 3 drug conference on Friday the 2nd that will probably make stock crash like it did in the past. Despite the news its so hyped up it shows strength to possibly spike into low .90s again at the bell and maybe even b/o past there if its strong enough to get past resistance. I do not suggest holding this into the afternoon or overnight i only did because it closed strong and i believe it will spike in the morning again but if things are not looking right for my strategy i will get out with small profit no high expectations here AT ALL! News may end up being good, but i wont take that chance.
LINU is such a awesome earnings winner, one of those plays i look at like WTF lol, how its held up and continued to climb, i expect the pattern to finish and b/o at 80 cents where it closed post market, i think it will go up around $1 before having resistance possible to keep running if breaks but its very very very very very over extended so i cant allow myself to expect things like that or i will begin to loose money, i do have 1k shares from .66 cents, i expect morning spike again as theirs a lot of attention and hype on it but as over extended it is and how it closed at its high i think it will end up being g/r day. unless they release some news of course to try to keep the bulls running can go either way though, will sell and take safe profit when pre-market begins trading at 7am, if it looks like good chance for spike at bell possible re-entry just looking to take safe profits before the bulls get chased off a cliff.
SPI-took $1.4k from this today in at $1.28 3k shares sold 1k at $1.80 then 1k at $1.75 and the last 1k at $1.70 thought it might of kept climbing but realized i was being greedy and sold for safe good gains, will keep watching if it does try to run any further.
TNK- market close $1.88 a share closed -2 cents on the day, then merger news post market shot it up too close at $2.07 +19 cents up (10.11%) good hype play deff expect morning spike and possible b/o if i see more volume/liquidity and good signs in pre-market & that is if news gets any attention but not playing the news just the hype if i do take a position my goal will most likely be to make 5-10 cents a share
MBOT- only position i will take is if it goes past resistance at $5 which i do not think will happen but you never will keep watching from distance
let me know what you guys think, thanks