Soft day on Wall street today with the NDX getting hit hardest. Gold also sold off and the gold ETFs (JNUG and NUGT) both are down sharply from late last week.
AQMS: After an explosive move a few weeks ago the stock has consolidated and today bounced off support and broke through the down trending channel line. It traded as high as $17.83 before closing at $17.04. It has a ways to go, but a break over $18.40 I would look to go long. As it would be trading in all new territory, it is hard to say where it could go. But if it reaches the top of the channel line then $24.00 is my target. Shorts, 5.9 days to cover.
GOGL: Shipping stock that has recently broken out of its long term base at $5.00 and is in a strong up trending channel. It closed right at the highs of the day at $6.83 (high $6.84). If the momentum continues then $9.00 is the next target. Not too volatile and probably a better swing trade.
IMGN: Stock has come down from $20.00 to $2.00 where it made a double bottom. It then traded up to resistance at $2.75 and consolidated there for 2 months. The last two days it broke through the overhead resistance and the declining tops line. It traded as high as $3.80 today, closing at $3.40. If momentum continues, $4.35 is the near term target and then $7.00. Short, 11.4 days to cover so could add momentum to the trade.
LIFE: Stock has come down from $30.00 to a low of $2.25. Last month it broke above its consolidation base of $4.00 and through its declining tops line. Today it traded up as high as $4.45 (resistance level) closing at $4.00. I would look to go long over $4.50 with $6.50 as my first target.
LXU: A week ago the stock popped up through resistance and then over the next week consolidated and pulled back to the up trending lower channel line. Today it exploded off that support and traded up to higher resistance at $11.28 closing at $10.87. I would look to go long this stock over today.s high with $12.75 as my target. With shorts, 14.3 days to cover, it could add a lot of momentum to the trade.
WTW: This stock popped out of its wedge formation today trading as high as $14.83. But after hours, it traded as high as $17.42 settling in at resistance at $15.90. I would look to go long this stock over $16.00 with $24.00 as my price target. Shorts a whopping 14.9 days to cover good add fuel to the fire.