December 28th, 2015 Watch-list
Evening traders! So last week we saw some strong movement for the overall market, but volume did fade in the latter part of the week as expected. We're seeing both the DJIA and SPX in about the midpoint of their current channels. As we've discussed the key breaks are labeled in green (support) and red (resistance). A break above or below the key lines will most likely signal an uptrend or downtrend longer term. We'll continue to keep a close eye on the market going forward.
Current Below $20 Plays:
ZIOP: This one saw a solid move Wednesday before closing down slightly Thursday (however it did close up from the open). Next key break is that $9 target. A solid break and close above $9 could mean a move towards the 20ma. Make sure to have your 1/2 R/R ratio stop set depending on your entry.
NCT: Seeing a nice short term uptrend on this one. Adjusting second target to $4.25. 20ma target has been broken. For those in, have your stops moved up to your entry price at least. Next key break is a break and hold above the 20ma. Key support $4.
IDRA: Not much new on this one. Still hanging out right at the upper end of our buy range. As we've discussed I'd prefer to see this one solidly within our labeled buy range, however if you do decide to take a risk on this one as a buy signal is given above our range, consider reducing the total capital used and using a tighter stop loss. We have seen that MFI come down into its oversold level which is good. Keep on watch going forward.
MDR: Solid student request play from a few days back. Saw a nice move off our labeled range and did hit and break our target of $3.69. Great overall move for those who played! Also broke the 20ma.
BLDP: Another play from a few weeks back. Did take a few days to give a buy signal but ended up seeing a fairly nice move. Has seen over a 10% move and is right near that 50ma. For those still in, that 50ma is the next key break. Consider utilizing the 20ma as a stop loss.
Current Above $20 Plays:
EXPD: Starting to see this one trend topside in the short term. Next key break is a break and close above $46. After that we have the minor resistance of $46.25 set on the 23rd of December. For those in, have a 1/2 R/R ratio stop locked in depending on your entry.
KHC: Solid overall play here. Has broken both of our profit targets. Remember, for these above $20 plays we look for consistent 3%-7% wins. If anyone is still in, absolutely have a trailing stop set to protect profit. Indicators starting to get near their overbought levels.
AAPL: Started to see this one make it's move topside Wednesday, however it did pull back on low volume Thursday. Hoping to see it recover and push higher early this coming week. Next key break $109. As we've discussed, if this one happens to come down further, we'll watch in the $100 support level for a second potential bounce play.
New Below $20 Play:
ELNK: Going to be adding this one back on watch from the previous play since we are seeing it retrace here. Will post the original chart without annotations so if anyone wants to try and label support/resistance, etc on their own they can and then tomorrow when we do a video breakdown of the chart, you can compare and see how you did.