Below is Ticker Review #2. If you want us to review a stock for you on episode #3 go to this link and fill out the information. http://content.bullsonwallstreet.com/stockreview
PBYI had some news out and has gone on a massive run. After the run, it has gone through a very healthy digestion. When a stock goes from $30 to $90, they have to rest. There are two ways to rest and work off an overbought condition, via price and via time. PBYI has a range developing and has tried to break out but it just can’t do it yet. However it’s definitely getting there. The overall structure of the stock is bullish especially due to the volume accumulation. But be careful of holding too many shares of biotech companies because they can gap overnight.
CZR looks like a really strong stock. It recently had an uptrend but with multiple consolidations with breaks out of these flags. This last month it consolidated in a tight range from $11.15 to $13 and it finally broke. The range is tight with no signs of volume distribution. The recent thrust out of resistance was confirmed with two times its relative volume. This gives us the confirmation that the price break was real.
NVDA has been a daily trader for me. NVDA had an epic drop of about $20 a few weeks ago from the entire tech market dropping. People always think of a pullback as being really bad. But we have to think about it from the bigger picture. What is happening in the market and what is happening in the stock? NVDA went from $100 to $170, so the pullback can be a good buy signal. Now NVDA is testing here but I would like for it to rest for a bit before breaking out into highs. If you don’t there’s a good chance of a shake and bake. But overall, this is an awesome stock with range and liquidity.
I’ve been eyeballing VRX myself. VRX was at $300 but has been on an epic downtrend. Recently it has started to pull out of the downtrend with some big volume. The push started from $9 to $14 with strong volume of 100 million. This volume is confirming that the bottom has been put in. You see a run where it’s doubled up followed by a nice consolidation where it broke again. All VRX is doing is flagging, resting on the 9 EMA, then consolidating on low volume.
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