February 17th, 2016 Watch-list
Evening traders! Strong move for the market today with the DJIA gaining 222.57 and the SPX moving up 30.80 points. We've seen the overall market see a topside rally after going down and finding support off the key 15500 level for the DJIA. 16510.98 is the key resistance level shorter term to watch for the DJIA. A continued move and break of that level will be a strong short term bullish sign and will signal the formation of a shorter term higher high. Both the daily and weekly charts for the DJIA and SPX are below with key resistance and support levels labeled.
Current Below $20 Plays:
AMCC: Nice 4.08% move today for AMCC. Next key break for this play is to break and close above the 20ma. Would like to see this one hold Fridays low of $5.09 if we do see a pullback. Take profit on the way up with this one.
ATNM: Solid 7.78% move today for this one. Was up over 9% for much of the day and actually hit our first target of $2 briefly. Next step is to re-test that $2 range and break/close above it moving forward. After that we have just the 20ma standing between us and the $2.10 level. 4/4 indicators nicely coming off bottom on this one. Consider moving your stop loss up to within 3% of your entry price on this play in-case we do lose momentum.
RENN: Strong move today with it closing up 8.42%. 4/4 indicators solidly coming off bottom. Next key break is to break and close above $3 and the 20ma at $3.01 presently. Want to see this one hold the low formed today of $2.79 if we do see a pullback. Solid move so far, but still have your 1/2 stop set. If we break $3, move your stop loss up to your break even price to reduce risk.