June 17, 2019
State of the Markets
Market futures are currently heading toward 6-week highs here in early futures trading. There is major anticipation of the fed cutting rates soon, as early as this week, but more than likely next month. However, with markets running up in the way that they are over the last week, the sentiment could quickly change. It’s a total mess out there. Be sure to stay ony our toes and remember what i’ve talked about the “shock factor” and how that will influence how to safely play these markets be it long or short.
KAF Stock Picks
Written By: KAF – Lead Stock Trader
Beyond Meats ($BYND) is a producer of alternative meats. The stock has soared as much as 800% since its IPO which was just over a month ago. The short squeeze has been incredible, but like all short squeezes, they come to an end. My ultimate price target for this stock, and my honest valuation of the stock is $21 a share. Before we see that level though it will likely be 12-18 months. However, for a short term trade, I am anticipating a quick gap fill down to the $100 level, by this Friday, or next Friday at the latest. You will notice the major gap to be filled under critical $125 support and on Friday we saw some very important intraday trend support breakdown which will helped be a trigger to the bigger spillout. The most important level on this name is the $150 level, that marks a 5 day trendline breakdown, and from there there isn’t much until down at $125, and under that we officially have a gap fill to $100. $100 is an important natural levle but also psychological level due to it being the level that the stock was flating around before its recent earnigns release. By August 1 i’m anticipating this stock is floating around the $80-$90 level which is about a 50% pullback from this level.
Penny Stock Picks
Written By: CQB – Penny Stock Moderator
Tilray, Inc. ($TLRY) is a Cannabis Manufacturing & Distributing company in the Healthcare sector. This company received a nice sympathy move from its coupled news catalyst with $NEPT on Friday. Neptune Wellness ($NEPT) signed a multi-year extraction & purification deal with Tilray, which is why we see the upward action from both companies. As Cannabis stocks heat up ahead of earnings, I expect this stock to continue its momentum on Monday. I plan to day trade this over the $39.00 natural resistance level!
Senseonics Holdings, Inc. ($SENS) is a Medical Appliances & Equipment company in the Healthcare sector. This company got a boost earlier last week from news of FDA Approval for its “Non-Adjunctive Indication For Eversence CGM System.” Since the fresh momentum faded away, it has sold off, down to lows of $1.85 on Friday. During after-hours though, it began reversing out of its downtrend and testing the $2.00 whole dollar resistance level. The resistance points are a bit choppy between $2.00 – $2.05, so I plan to day trade this over the $2.05 level for the confirmed trend reversal!
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