Morning Stock Prep for April 18th, 2019

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  • #272430

    Morning Stock Prep for April 18th, 2019

    Don’t forget the Market will be closed tomorrow April 19th 2019. Keep in mind that today the Market could act as a Friday.

    Yesterday we added a Stocks Catalyst Calendar where members can submit and post Catalyst that can cause some movement on stocks. We welcome you to post any catalyst you know about. https://stocksnewsfeed.com/stockscatalysts/

    Tip of the day, I would rather be rich, than right. To me this means that if the trade is not going in my direction, no matter what I think, get out. The stock market is not just about making money, it’s also about preserving your capital, making money is a side effect of preserving your capital. Don’t be afraid to take your losses and look for another opportunity to enter.

    Bearish:
    The overall market seems a little tired and at highs. Yesterday we saw a gap up open and then pull all day. The last three months overall market volume has been down, which could give a little pullback in the overall markets. On most movers it seems that profit taking is quick.

    AMAG – Is in downwards channel, Might scare some people and retrace recent lows.
    BKD – Formed a triple bottom, below $6.20 might want to go below $6 or lower. I would wait for confirmation as it has bounced of these levels before.
    EDAP – Been on watch, Broke $5 yesterday, might go further into the lower $4’s.
    PCG – has been on watchlist before, might down continue one more day.
    VCEL – Sold off all day yesterday, closing at lows. Might continue. Below $16, has room to $14.
    ZGNX – Below $36, has room to $34

    Bullish:
    The Cannabis market seems to be strong, CGC recently announce higher forecast and in works purchase acreage holdings.
    CGC – Pre-market mover, recent news and increased estimates on guidance, could move to $47’s or higher. Seems to have quite a bit of short which might have to cover.
    NEPT – Might want to test higher $4, but not very confident.
    PPC – going green with volume could give it a push over $26 and onto the $27’s.

    Premarket Movers:
    MBIO is up BIG – entered a licensing agreement with St. Jude Children’s Research Hospital to develop the lentiviral gene therapy for the treatment of “bubble boy” disease
    FBIO up around 50%
    CGC and BX up just under 10%

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    AMAG went lower by about 2.5%, Might still be a bullish trend for Monday
    BKD also went down some
    EDAP was choppy all day, might end about 1% on the Green side today.
    PCG dropped more than I expected.
    VCEL was extremely choppy, jumped up at ope, then dropped, and hopped around the VWAP
    ZGNX also choppy, up at open, dropped, and stayed around VWAP. About .5% down for the day.

    CGC, dropped from Pre-market, and stayed around VWAP, but sold into afternoon.
    NEPT 5% run to the green side.
    PPC ran to half day then came back to around VWAP

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