Morning Stock Prep – Watchlist for April 22 2019

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  • #275040

    Morning Stock Prep – Watchlist for April 22 2019

    Overall market seems be opening down some. Could see slight pullback before changing momentum for a push higher. I expect a slower, red day today.

    Tips of the Day – Manage downside risk is most people’s biggest problem and cause for losses, manage it and you will be a better trader.

    AMRS – See if it continues for an entry on breakout or squeeze, over $5.11 for possible move to $5.70 range.
    CGC – Opening Green, due to recent news and CEO comments, might test $48
    MOH – had heavy selloff, and then green day with volume. Could want to retest $125 range.
    SGRY – Bounce of resistance with heavy volume, could want to test over $11.

    HRL – Seems to have broken a level of resistance and might want to pull back some more, watch for confirmation.
    SWM – Broke a support trend, second day red and might want some more downside to around $35.20 area.
    SNBR – had big drop on volume, might bounce a little before wanting to close the gap on the downside.
    SKX – Also big drop on volume, but did recover some. Might be ready to selloff, but could also want to curl back up. Watch for volume and decision on direction.
    NEM – Might want to watch for a move to the $32 range, before either larger drop or recovery.
    ACER – Might want to test resistance level around the $16.50 range
    STEN – Large volume drop, might want support around $23.75 area.
    BSX – Want to keep an eye on this one, might have held Thursday, but could want plenty more to the downside.
    MDB – came down to an area of support with heavy volume, if it can’t hold, could go into gap and drop harder.
    SQ – Already down pre-market, below 20, 50 and 200 SMA.
    HOPE – looking for a move lower on third knock.

    BA had some news over the weekend about problems with another of it’s planes, already down pre-market, but could want even bigger drop. BA is a crazy movers, so if enter always maintain a stop or trail stop just in case.
    TSLA is down pre-market, with upcoming earning and already talks of earning going to be weak, this might want a larger drop before finding any support. Action is on the higher side of channel trend, which could also give push down.

    MO – Held puts over the weekend looking for a push lower on talks of tobacco age going to 21.
    AMAG – Also holding puts, for a test of the $11.30 support, Will get out today.

    Some of the Cannabis Stocks seems to be getting some momentum. PYX, CGC, TLRY, CRON
    Some of the Cryptocurrencies, Bitcoin, seem to be getting some momentum. RIOT, DPW

    Stocks with Earnings today:

    By the way, here are some of the resource we like to use on a daily basis to do some research:

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    AMRS – Did not make the expected move, closed $.13 %2.58.
    CGC – Beautiful move over $48, Will look for small pullback tomorrow and maybe some more upward movement.
    MOH – Opened and hit a high of 124.86, then sold off.
    SGRY – Opened and hit 10.75 then sold down to consolidate in mid 10’s.
    HRL Moved around, but closed $.04 up 0.10%.
    SWM – Sold off $.94 2.5% with a low of $35.50 into a Gap. Might want to close the gap down.
    SNBR – Did as expected, bounced and dropped hard, coming to the high end of the GAP.
    SKX – Sold off $1.79 or 5.65%
    NEM – Sold off $.34 or 1.02% – Might want lower tomorrow, but at a resistance level.
    ACER – Did the total opposite and moved up $.78 or 3.94% – Might watch tomorrow.
    STNE – Dropped .82 or 3.08%
    BSX – Did the opposite, and moved up $.81 or 2.31%
    MDB – I was so wrong on this, moved up %5.61 or 4.47%
    SQ – Also moved up $.201 or 2.84%
    HOPE – dropped $.23 or 1.69%
    BA was down, up, down again.
    TSLA – What a sell off $10.76 or 3.93% drop and closed near bottom.
    MO – Sold off early then moved hard up and rolled around VWAP.
    AMAG – Didn’t do much and lite volume.
    Overall Market did up all day instead of selling off, this might be one of those crazy markets that just wants to charge forward. Let’s see.

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