Watchlist: Penny stocks I Am Watching For 05/09/16 – 5/13/16

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 breakout a bit more or if market tanks could setup a nice failed breakout short back to 34.00.

DFT: Another very strong one on the daily. Right around 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 setup for a nice short on a breakout failure. It’s right at 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, possible 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 setup a nice short as well if it’s a false breakout.

NOC: Last one for a short is. It’s been supper 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.

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