------------- STOCKS TO WATCH - FRIDAY - MARCH 4 --------------------
ALTI exploded a few weeks ago, rising 237% in two days. The price explosion was accompanied by an explosion in volume. The price has since corrected but we are now seeing daily price ranges twice as wide as we saw prior to this recent pop in the price.
Price has been consolidating and responded very well yesterday to the 20 day moving average. It was up almost 12% yesterday. They have had recent news with a new patent and a new product. This stock has received some attention.
If ALTI can get above yesterday's high of the day, I think it has a chance to reach the recent highs. It's a double at least, in my opinion.
stockcharts.com[h,a]daclyiay[d20041204,20050304][pb50!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G
Entry target $4.52. Price target $6.25. Initial stop loss $3.72.
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PACT rose 37% in a day earlier this week and has had a nice uniform 3 bar drop into support at the 50 day moving average. This is a very nice pattern and we also see a hammer candlestick off the 50 day moving average, which indicates we could see the price reverse and head higher.
Money flows have shown tremendous improvement. MACD is very positive and indicates we could see the price hit a 2005 high. If the trade starts out in our direction, this one could turn into a longer term hold and reach a new high based on the technical strength of the chart alone. Provided of course it can reverse here.
stockcharts.com[h,a]daclyiay[d20041204,20050304][pb50!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G
Entry target $8.72. Price target $10.00. Initial stop loss $7.98.
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JAKK (short). JAKK has been up the last 5 trading sessions and has risen into the 20 and 50 day moving averages. Although money flows are decent and MACD has turned positive, the first test of resistance is playable nearly 100% of the time, especially if the price range has narrowed on the recent day and volume has diminished. Both of these objectives were achieved yesterday.
If the trade fails, there's very little risk because I will place a stop just above yesterday's high.
stockcharts.com[h,a]daclyiay[d20041204,20050304][pb50!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G
Entry target $21.11. Price target $20.00. Initial stop loss $21.62.
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JTX (short). JTX has been in a downtrend. The 20 day moving average is below the 50 and there is a comfortable distance between the two. When price rises into the declining 20 dma, the play is to short nearly 100% of the time.
We also see a narrow range bar into resistance at the 20 dma, on low volume. This indicates the bulls aren't picking up demand. I look for supply to come to market and push prices lower.
Money flows are still very negative and although MACD has turned positive, I'm not sure it has the strength to push the price above resistance, especially after being up 5 trading sessions in a row. If the price target is hit, JTX goes lower, in my opinion.
There is very little risk with this type of set up as the stop will be just above the 20 dma.
stockcharts.com[h,a]daclyiay[d20041204,20050304][pb50!b20!f][vc60][iut!Lah10,30,5!Lc20]&pref=G
Entry target $21.35. Price target $20.00. Initial stop loss $21.72.
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Other stocks on my watch list, but I want to see how they open, include:
PDC (Covering the short and going long. I will know in the first 30 minutes of trading.)
SYNM
GT
CC
HTM
TMR
ASTM
Looking for going long if they can trade 6-12 cents above yesterday's high. I will make the determination and post in the first 30 minutes of trading.
dabum |
