Monday 11-8 Watch List

Get ready for an intersting week – lots of folks are talking about a possible pullback, then rocket ship up. Who knows, we’ll play what the market gives us. Right now, the sentiment is definitely bullish, maybe too bullish. However, I’m headed into Monday with quite a large list of long setups that I’ll have an eye on. You can watch them by clicking on The active grid is here.

GSI – MACD looking to cross north. GSI showed weakness on Friday, so a confirmation above 3.05 breakout with volume before considering long. There is trendline resistance at 3.05 and the volume-by-price dries up after 3.10, so resistance is taken out.

ASTI – Failed to break through SMA20 on Friday, so I’m waiting for a confirmation move before considering entry. If volume comes in, this could be a nice scalp.

DSCM – At first look, this cart isn’t that exciting. However, there is some volume starting to come in with a possible positive MACD cross setting up for Monday.. ADX aslo crossed to the bull side. Could move it it gets through 1.80.

PRGN – my one shipping stock on watch. As with the other shippers, volume was huge on Friday. I like the MACD cross and test of trendline resistance. Possible play on move throug resistance to 4.12 target. Some resistance at 4 to deal with first.

LGND – above 1.72. There is some clutter ahead of that range, so I’m setting an alert above 1.72 as a possible door opener.

GTN – Risky trade, but on my watch anyway. It’s been consolidating for weeks now on improving MACD. Over the last few days, we’ve seen volume and even an attempt to breakout on Friday. I’m watching to see if it tries again. 2.10 resistance. This is a scalp only with tight stop.

PWAV is forming a little pennant at top of wedget, so we have to be careful here. Pennants often open up, but the wedge could act as resistance. I would consider long over 2.25 WITH volume to confirm move out of wedge. Otherwise, this one could see a 2.10 pullback pretty easily.