Hello, Bulls.
Here are a few stocks that I’ve added to my watch list for Wednesday for possible swing/scalp plays. Keep in mind that many of my stocks are very volatile and require a lot of attention – I never take a position in a swing/scalp trade and walk away from it – stops and profit taking are very important rules to live by.
HYTM – Well, this one is hard to figure out, but I’m keeping it around because it could pop and offer a great intraday scalp opportunity. Currently, there is somewhat of an organized triangle forming, but many of the technical indicators are not that bullish. So, I’ll play long with volume, but enter with small position.
NZ – Acting like a reversal here. MACD attempting to cross 0 after bottoming Full Sto. This might be something I look at swinging with trailing stop.
CPST – I always like symmetrical triangle setups. Notice the price is testing both the top of the triangle and MA20 with tight bollinger bands. Pop coming?
RDN – The BULLS team has been in and out of this a few times. Nice little pennant forming now after recent breakout. Worth watching to see if we get another move.
FBC – Ugly, ugly. However, the steady decline has been organized and today’s action may be the beginning of a reversal (MAYBE). MACD, Full Sto are all improving with RSI14 approaching 50. My play will be a scalp (possible swing) on move through MA20 on the daily.
DARA – I really like this chart. Highly speculative trade here, but I like it for a long position above MA50 (blue line). Nice tight bollinger bands, RSI14 touching 50, MACD crossover, and more.
LJPC – Well, here is another spec penny that I’ll only play IF it moves through the channel. I like scalp opportunities like this. Volume was good today, so there might be some interest tomorrow.
SGMO – swing opportunity here. Notice that it touched MA50, but failed to move through and settled just above MA200. In order for me to swing, I’ll wait for price move through descending trendline and add more if it breaks through MA50. Swingin with trailing stop.
DVAX – Nice move up off of trendline today. Now testing horizontal resistance at 1.5. A move above will get me swinging long. Would like to see better volume. Today’s move didn’t have the volume support and needs it soon to continue.
