February 24th, 2016 Watch-list
Evening traders! Red day for the market with the DJIA closing down 188.88 points and the SPX coming down 24.23 points. We're starting to see the daily indicators for both the DJIA and SPX turn downward. I personally expect to see the market start to come down over the next few days, but anything is possible! Both charts listed below with key support and resistance labeled.
Current Below $20 Plays:
AMCC: Continuing to see a solid topside move with this one. Has broken our first profit target of $5.60. For those still in, I'd recommend kicking in a 3% trailing stop to reduce risk. Also, be aware, daily indicators are starting to get near their oversold levels. Look to lock in profit for those who haven't already.
RENN: Saw this one go right up near our initial profit target of $3.10 today. Indicators are starting to get slightly overbought however so be aware that momentum may start to decrease if we don't see this one hit our target tomorrow. All should have your stop loss moved up to your break even price to reduce risk. Chart below for review.
MNGA: Still seeing this one settling in our buy range, like it has been for the past few days. Want to see a solid green day with a buy signal before taking an entry. Keep on watch going forward!