April 25th Daily Watchlist Recap

APR 25^th Watchlist Recap

Prior Day Market: S&P – up .05%; NSDQ – down -0.8%; DJIA – up 0.1%

Top watches - $RPRX $KCG $BCEI $ZEUS

Best plays - $RPRX $BCEI $NEOT $FCSC

Multi-day watch à

RPRX looking for short if holds $2.95, with key breakdown below $2.65. LOOK FOR SHORT SIGNAL. Broken below $2.65 intraday, closed at $2.50 area, strong area for break below.

FMSA Rejected $4 but morning spike held $3.75 area, shorts covered last half hour into weekend. See pre-market action for spike above $4. High short Ratio could squeeze on breakouts. BUY ON 

BREAKOUT. Broke down in morning but finishing near open, still for $4 BO.

KCG at 52 week and ALL time high of $13.60. Breaking this could send upwards for $0.50-$1 as seen historically. 0Broke out $13.60 but not with much conviction, if it can hold bounce at $13.70 this should go up. Potential squeeze of shorts. BUY ON BREAKOUT. Broke down below $13.50 but bounced at $13.40.

VHI shows signs of false buying and should come down in due course, 5 green days in a row now and first red day on Friday but illiquid and only marginal. Should fall to $1.75 or $1.50. Taking off watchlist, too illiquid.

FCSC, I am expecting $3 support breakdown to $2.75-$2.50 following third green day yesterday and correlation with XON. XON broke down below $36. Afternoon spike with shorts covering for the weekend, potential morning spike on Monday, good above $3.50 for 50 cents/share in line with previous spikes. Sector bounced up Friday. Morning spike to $3.78 from put immediately dropped on open and bounced at $3.10.

AMPE LOOK FOR SHORT SIGNAL. Illiquid with afternoon spike, potential morning spike on Monday above $4.25 but running out of steam and will take any opportunity to short higher. Illiquid, get rid off watchlist.

UNXL had a double top. Finishing down so potential for $1.75-$2 below $2.25. Could not break above $2.25 in morning, immediate short below $2 and reached $1.75 as expected. Most of gains now lost, potential for $1.30 if $1.75 breaks.

GNE big spike on big volume historically met with big selling. $8.30 region has held it now 3 or 4 times in the last ten days, can see this coming down if rejected during spike. Sooo illiquid and still rejecting from $8.30. Remove from watchlist.

SEED is a classic pump and dump pattern where spikes always met by rapid price falls. Held $1.90 support but going down soon, not much movement expected as low volume yesterday, bounce to $2.50 would be better to short on. LOOK FOR SHORT SIGNAL. Watch for fall but no liquidity on Friday. No movement, booooring!!

EXK, PLG uptrending metal plays. If it breaks $3 should be good for $2.75. Same analysis, low volume on Friday. Looking for break below $3.6 on EXK. PLG could be breaking $3 region and good for $0.25.

UFI up on positive earnings as catalyst and high volume, big company in textiles with fundamentals i.e. a reason to go up. $28 historical resistance to break, with previous moves of $1-$1.50.First green day. Could reject at $28 due to bitter shareholders and large sells at round number. POTENTIAL BUY. Rejected twice from $28. Volume tiny, but break below $26.80 region could pull down but not going to risk it for little gain on positive catalyst. Remove from watchlist.

First day watch à

BCEI (energy play back on the watchlist from last week) 3.54 and 3.61 both potential catalysts for breakout and almost 40% of stocks short!! Big opportunity on breakout for a squeeze. No big breakout squeeze as desired despite technical catalysts. Gapped up and went to $3.95 from prior day close at $3.50. Could break $3.95 for BO but stock nearly doubled in ten days and fundamentally weak, will be looking for change in momentum to short.

ZEUS near 52W high at 20.59, trending up over past ten days with tendency for morning spike and afternoon pullback. High short ratio could push short squeeze. See if it holds intraday above $20.25 for buy. Were shorts selling to cover for the weekend? Looked like it was consolidating below $19.75 in past five days before breaking out. Below $19.90 looks good for 11% to $18 downwards.

SKY at new highs. Is 11.86 going to act as triple top? Low liquidity, big spread. Move off main watchlist but expect further fall to $10.50 (4%).

NEOT breakout above 1.22. Not a great short squeeze opportunity. High volume trading but news not apparent. Gone from $0.70 to $1.20. Morning gap up to $1.56 on high volume, holding above $1.30 and firmly holding $1.25 intraday.

PACB gapped up on Friday, from $9 to $9.50 which created morning squeeze to $10.75 (not quick enough to call a squeeze really). Retested $10.50 but held, closed strong.  Watch price action for break above $11, if it falls it will likely bounce at $10. High short % so good chance of squeeze. $11 might act as good resistance due to bitter shareholders getting in at $13 highs and selling on breakout opportunity to minimise their losses. Up on earnings as catalyst. Couldn’t hold previous day open, bounced at $10 as expected.

LGCY oil and gas play – hot sector! broke out above $1.60 ish on high volume. Long term crow pattern (dying), always falls on spikes to lower lows. Breakout above high but look for signs of weakness, fundamentals poor and no news. Continue to look for fall, reached $3.24. Sixth green day now and extended almost tripled in five days!! (at high) Lost a majority of morning gains finishing at $2.40.

RIGL held $2.80 strong resistance into close down from $2.90. Break above $2.90 and $2.97 on upgrade news to Neutral as catalyst. Won’t short on good news and ok fundamentals. Same analysis, no volatility.

CCLP gas and oil play from $6.50 to $9 in four days. Holding $8.80 on low liquidity Friday afternoon. Short term stair stepper pattern breaking out each time to new highs and on fourth green day with high volume, could continue above $9.10. Yearly resistance at $10. Historical spikes met with quick drops but need momentum change. No change in day. Expecting fall after fourth green day. Target $8.20 (7%).