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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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Evening Stock Watch-List: June 26, 2019

Stock Watch-List: June 26, 2019

June 26, 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

+5.00 (0.02%)

+1.50 (0.05%)

+9.00 (0.12%)

+475 (4.17%)

-3.70 (0.25%)

MU

Micron Technologies ($MU) is one of the biggest chipmakers in the world and they released strong earnings this afternoon dominating analysts expectations. This broke $36 briefly in after hours but couldn’t hold it, don’t let that discourage you though. The $36 level is still a major, major breakout area and in coming weeks this is likely to retest $40-$42.

RIOT

Riot Blockchain ($RIOT) is an Application Software company in the Technology sector. This low-float penny stock has moved nicely in sympathy to Bitcoin’s massive run over the last two weeks. After another impressive trading session yesterday, the stock briefly gapped up in pre-market to highs of $4.21 before consolidating near the $3.20 natural support level. RIOT also saw some unusual call buying today as Bitcoin futures were up again, adding on to an already impressive week. As long as cryptocurrency continues its strength tomorrow, I expect this stock to do the same. I plan to day trade this over the $3.60 natural resistance level for the technical breakout, mainly due to the high 26.54% short float!

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Evening Stock Watch-List: June 25, 2019

Evening Stock Watch-List: June 25, 2019

June 25, 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

-53 (.18%)

-6.25 (.19%)

-28.75 (.35%)

+205 (1.87%)

+16.10 (+1.14%)

IMUX

Immunic, Inc. ($IMUX) is a Biotechnology company in the Healthcare sector.  This low-float penny stock had an exciting power hour today, closing up nearly +91%. The press release stated that the company is set to publish pre-clinical mid-stage data on their leading program “IMU-838.” There is not much tangible value attributed to the data yet, but with a share float of just 9.81 million, it did not need much to go parabolic. During after-hours trading this evening, the stock formed a tight descending wedge, and looks prime to breakout in the morning. As momentum continues into tomorrow, I plan to day trade this over the $17.00 whole dollar resistance level!

MU

Micron Technology, Inc. ($MU) is a Memory Chip Manufacturing company in the Technology sector. This stock, along with other chipmakers, dragged down Tech last Friday, but made an impressive recovery out of the gate this morning. Most analysts are expecting the company to report a net loss by year-end, due in large part to the Huawei bans, but has an interesting setup from a short-term technical standpoint. After an massive move to the upside at market open, the stock entered a stiff downtrend before consolidating at the $33.20 and reversing here in after-hours. I plan to day trade this over the $33.40 natural resistance level for the confirmed trend reversal!  

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Weekly Stock Market Newsletter – June 24, 2019

Weekly Stock Market Newsletter: June 24, 2019

June 24, 2019

Hello there! Below is your edition of this week’s newsletter. We hope you have a great trading week! 

 

Current Futures

DOW:

-102 (0.38%)

S&P 500:

-11.75 (0.40%)

NASDAQ:

-26 (0.33%)

BITCOIN:

+390 (+4.05%)

GOLD:

+6.10 (+.44%)

State of the Markets

What a week for the U.S. stock markets! The Dow Jones, S&P 500, and NASDAQ gained at least 2.2%, while Treasury yields were down around 2%. Not to mention Gold, which has been absolutely booming lately; the recent rally has pushed Gold up and over $1,400 for the first time in almost 7 years. 

Let us not forget about Oil as well, up almost 9% this week alone, as disasters in Iran escalated supply.

Even with the tremendous amount of gains made from the U.S. markets this month, (DOW on pace for the best June in almost 80 years) the recent craze has been focused on Cryptocurrency.  Bitcoin surpassed the $10,000 mark this week, backed by momentum of Facebook’s ($FB) release of Libra, the company’s own cryptocurrency. We all know how volatile Bitcoin (as well as other cryptos) can be, but the recent upward trend action is nothing short of parabolic. Looking at futures now, Bitcoin is up another ~+4.5%, a common trend seen in recent weeks.

Be ready for another volatile (and exciting) week ahead, as investors are still bullish after the Feds hinted at rate cuts this summer.

 

Stocks To Watch This Week

OSTK

Overstock.com, Inc. ($OSTK) is a Catalog & Mail Order company in the Services sector. This low-float stock went absolutely parabolic late in Friday’s trading session, after the company announced that there is acquisition interest (retail business) from multiple companies. The CEO stated that it is likely they sell, so the company can focus on cryptocurrency (blockchain) to further expand their business. Although this news isn’t overly tangible, the low share float and extremely high short float make this a nice technical setup. I plan to day trade this over the $11.92 critical resistance level!

PTN

Palatin Technologies, Inc. ($PTN) is a Diagnostic Substances company in the Healthcare sector. This higher share float penny stock gapped up Friday evening during after-hours trading, on news of receiving a $60 million milestone payment from AMAG Pharmaceuticals (see below). The payment is attributable to an FDA approval of AMAG Pharmaceuticals new drug Vylessi, which Palatin has a North American licensing agreement with. I expect this to run in sympathy with $AMAG on Monday, even with the higher share float. I plan to day trade this over the $2.21 critical resistance level as momentum continues into Monday morning!

AMAG

AMAG Pharmaceuticals, Inc. ($AMAG) is a Biotechnology company in the Healthcare sector. This low float penny stock received a positive news catalyst on Friday evening, an FDA approval of their new drug Vylessi (boosting sexual desire in women). As mentioned above, Palatin Technologies is in sympathy with this due to their licensing agreement. This stock has an incredibly high short float, making this prime for day trading. I plan to dip buy this at the $9.45 critical support level, which was tested three different times on Friday. This also has potential for a technical breakout over its after-hours high of day! 

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Earnings Calendar

Quote of the Week

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Evening Stock Watch-List: June 21, 2019

Stock Watch-list: June 21, 2019

June 21, 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

-42 (.16%)

-5.75 (.19%)

-21.75 (.28%)

+200 (2.03%)

+14 (+1.00%)

CTRV

ContraVir Pharmaceuticals, Inc. ($CTRV) is a Biotechnology company in the Healthcare sector.  This micro-float penny stock received a parabolic run up this evening during after-hours trading, after being down nearly 10% on the day. The news was a positive FDA response for their experimental drug that treats liver disease. This is a positive news catalyst, but honestly, it could have been any fluff press release and this stock would have gapped up significantly. The 0.48M share float is ridiculously small, causing any type of momentum to force a parabolic move. I plan to day trade this over the $6.00 natural resistance level, just a tick above its after-hours high of day!

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