April 25th, 2016 Watch-list
Evening traders! Hope everyone had a good weekend! The overall market was essentially even to close out last week as we're seeing the DJIA hang right around that 18000 level. Support wise the next key area to watch is the daily 20sma for both the DJIA and the SPX charts. We're still very technically topped out at this time, so the risk is still very high to enter above $20 plays. Both the DJIA and SPX daily and weekly charts are below for review with key support and resistance labeled.
Current Below $20 Plays:
AHT: We saw this one close last week just like we wanted it to. It has now started to settle down into our labeled buy range. Indicators still heading down, so hoping to see this one move even lower for us early this week. Remember, do not chase. Lets be patient here.
MNGA: Essentially nothing new with this one. Hanging right around that 20sma on the daily chart. Not liking the way we've been moving ever since we saw that nice move up to $1.14. As we've discussed, have all stops moved to within 2% of your entry price to reduce risk. Hopefully we can see a pop early this week here or we'll simply move on.
NLS: Nothing new here. Still waiting for this one to settle down into our labeled buy range for us. Keep on watch.
KNDI: Nothing new here. Looking like we're seeing a small rally on this one. Let's stick to our original plan and be patient on this and wait for it to enter our labeled buy range.