j0turne
Long

Low Float High Short = Money Squeeze

NASDAQ:JAKK   JAKKS PAC INC
40 0 0
UPDATE: I like the MACD crossing and still going up. ADX is showing strong signs as well. Not a fan of Stoch being in overbought area though. Needs to close above first line of resistance. Caution is required here as earnings are close and I do not expect a strong earnings. Looking for a run into earnings which several other traders are as well. We could see some inst. drop their holdings on any strong movement. Volume is looking strong

Jakk             could be setting up for quite a nice money squeeze. Float is 12.8MM, 69% of float is short. Taking a position here and expect a little bit of a pullback as Full Stochastics is overbought, however, if volume is high on 10/6 morning and price increases I will buy as it could be forming Three White Soldiers pattern. First resistance is 7.90 which should be easy to break this week followed by 8.52 then a strong 9.01 resistance. Support seems to be at 7.22 followed by 6.45

Stop is .22 / 2.96%
Target is 1.03 / 13.84%
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