December 9th, 2015 Watch-list
Hey all! So today we saw the overall market come down a bit, with the DJIA falling 162 points and the S&P 500 coming down 13.48 points. We're still at the key point with both the DJIA and SPX where key resistance is near and the weekly chart is showing a largely overbought bias. If we can hold below the 200ma on both charts, could be a short term bearish sign. Next key break after that would be the 50ma. Watching closely to see if we go down and break that 17210.43 low on the DJIA, or if we break out and set a higher high. Both charts below for you to review!
Current Below $20 Plays:
CLNE: Still watching as this one settles down into our newly defined buy range. Keep on watch going forward! Remember, it is higher risk so if we do receive a buy, go in smaller capital wise.
ZIOP: New play we added yesterday. We're being picky here buy range wise since the indicators do show a little more room to fall. If it runs in this level do not chase. Too much resistance too close to the price. Be patient.
Current Above $20 Plays:
SPG: Has seen a small push the last few days. Not yet in our buy range. Do not chase this one up in this level. If it runs without us we'll re-address our strategy going forward.
EXPD: Seeing this one start to come down like we were hoping and getting close to closing in our buy range. Keep on watch for those who trade higher priced plays! Remember, we need a 3/4 buy signal with the price in our buy range before we take an entry!
KHC: Newly added play from yesterday. We've played this one recently. We're seeing it start to retrace from the previous run. Indicators do show more downward momentum so we've set the buy range slightly lower than last time. Even if it happens to run without us, this is a great chart to keep on watch since it has that sideways channel in the short term still intact. Hopefully we can see it come down a bit more for us!
New Below $20 Play:
NCT: This chart shows some potential as a nice bounce play, but it still has some downward bias. What I figured we could do is between today and tomorrows watch-list anyone who wants to practice can go through and label support/resistance, trend lines, etc. for NCT. That way when we break down the chart tomorrow via video, you'll be able to compare and see how well you did! The main chart breakdown will be done on a Daily chart (1 year 4 month range).