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Evening Stock Watch-List: June 27, 2019

Evening Stock Watch-List: June 27, 2019

June 27, 2019

Hello there! Below is your edition of this evening’s watch-list. We hope you have a great trading day tomorrow! 

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Futures At A Glance

DOW S&P 500 NASDAQ BITCOIN GOLD

-14.00 (0.05%)

+.25 (0.01%)

+3.00 (0.03%)

-950 (6.84%%)

-1.30 (0.10%)

MGI

MoneyGram International, Inc. ($MGI) is a Credit Services company in the Financial sector. It is not often you find a stock in the Financial sector with adequate range due to a low-share float, but this penny stock has both. This evening, the company announced that it has received structured refinancing backed by Bank of America. Because of the low share float mentioned earlier, the stock moved from $2.50 up to the $3.10 natural resistance level. Because this news will not be as fresh tomorrow, I expect some profit taking in the morning, dropping the stock price a bit before recovering. I plan to day trade this on a dip buy off of the $2.75 critical support level, which was used several times in after-hours trading. 

OSTK

Overstock.com, Inc. ($OSTK) is a Catalog & Mail Order company in the Services sector. This low share float, high short float, stock went vertical pretty much the entire day, closing up nearly +26% before the $BTC.X plummet this evening. Most stocks tied to the Cryptocurrency followed suit, including Overstock.com, falling from approximately the $13.60 level to $12.25 before reversing some. The stock has attempted a mild reversal since then, and provided an interesting setup at the $13.00 natural resistance level (which was tested a few times). With an intriguing 55.75% short float, this stock should rocket over resistance levels, and I plan to day trade this over that $13.00 natural resistance for the technical breakout! 

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