July 08, 2019
Hello there! Below is your edition of this week’s newsletter. We hope you have a great trading week!
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Current Futures
DOW:
S&P 500:
NASDAQ:
Open at 4 pm est
BITCOIN:
GOLD:
State of the Markets
Jobs report for June beat expectations in a major way and markets dropped a full percent on that news. Why? Because people are now scared that a strong economic piece of data like strong jobs is now going to make the fed not cut rates, or at least not as sure of a thing. It’s all outrageous. Investors would rather a weak economy and low rates than a strong economy and higher rates. All pretty backwards truthfully. But, the markets bought that dip heavily and we saw new all time highs from multiple different names. Still a bull charge moving forward. Investors are looking for ANY reason to buy right now. It’s a total euphoric feeling out there. When it comes to an end it will definitely burn some people, but as of now there are no signs of slowing, and I expect a pretty strong and significant green week from markets.
Stocks To Watch This Week
CRWD
CrowdStrike ($CRWD) is a cyber security company and a fresh IPO that has really been buzzing as of late, mainly due to one of their competitors ($SYMC) having rumours of getting bought out by a major company. Even before that news though this name has been crazy strong since its IPO day holding gains of over 100%. I really like this name, and I mean REALLY like this for a move to new all time highs in the coming week up and over $80. It’s a bold call that all starts with a high volume breakout over $67.50, and then a high volume breakout and hold of $70. Those two things should relly cement this to make the $80+ move, especially if we get more confirmation about the SYMC buyout.
NFLX
Netflix ($NFLX) had a great past two weeks and i’m expecting it to only get better with the HUGE hit of “Stranger Things” surpassing peoples expectations. Expect soem news release on how hot that has been for them this week. It dropped on July 4th and the reviews have been amazing. This is on a road to $400 as long as markets dont give out. Love this for a long up and out of this wedge.
$CDMO
Avid Bioservices, Inc. ($CDMO) is a Biotechnology company in the Healthcare sector. This low-float penny runner had an impressive end to the week, after releasing an earnings beat on Friday morning. The stock price rose right at +40% after revenues rose 146% year-over-year, and had $32.1 million cash on hand to close out last quarter. It does not take much momentum to push the low share float stock to the upside, so expect breakouts to provide significant upside potential. I plan to day trade this over the $5.70 natural resistance for the technical breakout!
$OASM
Oasmia Pharmaceutical ($OASM) is a Major Drug Manufacturing company in the Healthcare sector. This low-float penny stock went parabolic Friday morning, before selling off below $2.00 (still closing +63%) in after-hours trading. The stock was moving on news of management solving their outstanding debt balances. The sell-off during midday on Friday created an interesting breakout opportunity over the $2.40 natural resistance. I plan to day trade this over that $2.40 resistance as it attempts to fill its intra-day gap!
$MAXR
Maxar Technologies, Inc. ($MAXR) is a Communications Equipment company in the Technology sector. This lower-float penny stock has seen impressive bullish sentiment over the last week or so, moving from lows of $7.41 to highs of $10.10 in the previous 5 trading sessions. The company received an Outperform rating with a price target of $20/share by Raymond James last Wednesday, and has made higher highs ever since. I plan to day trade this over the $10.10 critical pre-market resistance level as momentum carries into Monday morning!
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