NEM: If the market decides to go back up I am looking at a short on NEM which is a gold stock that’s been ripping. 161.8% or 176.3% extension on the daily combined with some fib retracements from high to low. It will just be a quick trade since I think if the market keeps rolling over NEM should keep moving towards a measured move around 41.50 area.
AHS: Nice daily chart. Although a bit extended it could break out a bit more or if market tanks could set up a nice failed breakout short back to 34.00.
DFT: Another very strong one on the daily. Right around the new 52-week high breakout level. Could see 47.00
WCN: Another stock just hit a 138 extension and pulled back sharply. I am looking for a bounce back to 67.00 and then if it holds a move towards 70 for the 161.8 extension
MLM: may be set up for a nice short on a breakout failure. It’s right at the breakout level on the daily so might breakout although it’s pretty extended since it went straight up since bottoming in early Feb.
AWK: water stock that’s been super strong. I am looking to short it on any sudden spike, possibly 76.50-77.50 area.
DLR: same sort of chart. Near a 52 week high and breakout level on daily. Kind of extended but may continue towards 97 or 101. This one could also set up a nice short as well if it’s a false breakout.
NOC: The last one for a short is. It’s been super strong. 5 up days in a row on decreasing volume. Just hit 2.5 standard deviations Bollinger bands on daily. Definitely, higher-priced so not for everyone’s liking but should give a nice trade.
Want to get started in trading penny stocks? Click here