Morning Stock Prep – Watchlist for April 26th 2019

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    Morning Stock Prep – Watchlist for April 26th 2019

    US economy grows by 3.2% in the first quarter, tops expectations – The U.S. economy grew at a faster pace than expected in the first quarter, according to data released by the U.S. government on Friday.

    Does the SPY want that All Time High status? Seems that way… But boy is it choppy waters.

    Pre-Market Movers:
    PETX to be acquired by ELAN
    RBZ – Only news I see is an exercise of over-allotment option. But very small float and could go wild.
    INTC – Ouch Intel… reduced guidance.

    Bullish
    AN – Break of triple top, and 200SMA for a move to $41 or higher if swing, needs volume.
    BJRI – With volume could break into gap and $50+ range.
    SFLY – Was in watch yesterday and got upgrade today. Watch for volume move
    NVS & BIIB – Could start moving towards $240 (NVS $84) range after earnings and pipeline update.
    MBRX – Being Friday, this could start to fib retrace
    AMRN – This tends to move on rumors and likes green Fridays for the weekends. Like to see if it moves to $20 area.

    Bearish
    RES – Maybe it wants to double bottom around $9.50
    ROL – Watch a break of SMA200 for a move to around $37
    TRN – Call me a little crazy, but I think it goes green. Might start red and reverse to green.
    TEN – Might want to test the $20 area. Seems to be on a channel trend.
    SQM – Might see sub $34, I think something is going on with these Brazilian mines, probably headed by problems at VALE.
    ALKS – Missed on prescription sales, might retest bottom around $27
    GILD – announced that its Phase 3 STELLAR-3 trial did not meet the primary endpoint. Could retest lower $60’s range.

    Watch for trend to establish
    IRM – Dropped on earnings, could test down to about $31 area. Watch open and volume.
    XLNX – Earnings were not bad, but was overbought. Closed at low. Might see a selloff at open and start to reverse during the day.
    CRC – Dropped before earnings??? Did something leak out or was this just selling? Stopped at lower end of channel trend, could bounce back up, Breaking lower could see sub $20.

    Volatile (but decent options)
    TSLA – If resistance break, could drop hard. If it holds, well let’s see…
    BA – Just a Volatile stock lately. Great options. Up in pre-market – upgrade yesterday

    Earning for April 26th 2019 – http://104.198.40.99/stockscatalyst/earnings-for-friday-april-26-2019/

    Did you read the Morning Stock Prep – Watchlist? Leave us a comment below with your thoughts and/or opinion?

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  • #281975

    SPY was up again, sure seems like it wants that 293.94.
    RBZ Nothing happened.
    INTC Dropped at open and showed some volatility, then announced it was going to sell it’s modem business.
    AN Broke the top and volume came in, got over $42.
    BJRI surge at open and then leveled at around $50, ending at 50.99
    Pulled back at open, but still closed up 3.9%
    NVS & BIIB both moved up, but very little.
    MBRX had a little pop at open, but that was it. No steam.
    AMRN pulled back at open, then bounced around a bit, ended up 1%
    RES closed down 2.9%
    ROL dropped at open, but resisted and bounce, ended about flat. 0.2% down.
    TRN I was crazy, jumped up 2%
    TEN up and down, ended up 1.34%
    SQM Totally wrong on this one, bounced up from the start. Ended 2.21% up
    ALKS tried to dropped at beginning, resited and came back to close .69% green
    IRM dropped from the start, but no pattern set up.
    XLNX did as expected, started to sell and reversed.
    CRC dropped from the start, recovered, sold off, and recovered. Ended 2.57% down
    TSLA Made my day with a beautiful break of resistance and by drop, got a great Put option on this ride down and sold at bottom before small bounce. After hours news came out Elon the SEC reached agreement.
    BA Volatile as expected, I didn’t see an entry setup

    #281791
    Frank
    @frank

    Tesla did not hold resistance and dropped hard, get puts for over 200% profit.

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