Yesterday the market gave us a gap down open and then eventually rallied for a nice green candle after almost touching the sma20 on the daily. This morning we are looking at a relatively flat open for most of the major indices, and we will have to see if the market wants to continue up after finding some potential support yesterday. It’s also worth noting that the VIX spiked a bit yesterday but then eased significantly in the afternoon. This is something we will continue to monitor closely. Yesterday we had some fantastic trades in the room on EBAY and NFLX. It was great to see members getting some nice wins on these. Here are some names that I will be watching today:
ACST is a bit extended, but this is a stock that is moving in response to AMRN offering, which was prices low this morning. If ACST wants to push over 1.59 with volume I like this for a move to 1.80
VSTM is a name that has been beat up since its FDA approval last fall and looks ready to finally get some recovery. I like VSTM over 1.59 for a move to 1.80 or higher
KPTI got a surprise FDA approval on July 3rd and has since pulled back and held it .618 Fib level and consolidated along the sma200. I like this over 8.44 for a move to $9
SAIL had a very nice TTM Squeeze on the daily and a large gap above. I like this over $21 to test yesterday’s high and move higher into the gap
NTRA is another name with a nice TTM Squeeze on the daily and has regained its sma20 after pulling off the recent highs. I like this over 26.50 for a move towards $28
PTCT is a very similar setup to NTRA with a nice TTM Squeeze on the daily and a reclaim of the sma20. I like this over 44.10 for a move towards $46
If you have any questions feel free to email me at firstname.lastname@example.org and trade green!