BLDP put together a tight, low volume consolidation over the last few weeks of trading. Finally today it ripped higher on big volume. It closed near the highs of the day as well, helping to put the cherry on top of a beautiful breakout. This has the look of a potential big winner. Pay attention to this one.
Crypto is starting to heat up again and Tezos may be gearing up for a major breakout. It has struggled with the 61.8% Fib retracement level and is also contending with the downward sloping trendline. Pay attention to this one in the coming days/weeks if it manages to clear those two hurdles.
After a couple of false starts, HLI finally broke out from it's consolidation pattern (Inverse H&S Continuation) and has come back to the scene of the crime. It is also getting support from the 20-day EMA and printed a really nice reversal candle on heavy volume. I took this trade and placed my stop below the low of the day.
Sheeesh talk about a disappointment. CATS had ripped and was building a high tight flag when it collapsed. Today it printed a reversal candle at previous highs and closed right on the 50-day SMA. With 40% short interest, this could see a real nice bounce here.
If you're looking for short opportunities, I think ARNC might be a good one. This was a spin-off of Alcoa. The chart on TradingView is deceiving - it started trading under the ARNC ticker April 1st. Not sure what the other price history is from (maybe AA?).
Today is the second time CHWY has tested support since breaking out from it's IPO base. I'd prefer to see a close above the 20-day EMA but willing to overlook it considering the setup. Stop below today's candle
Loving this setup. QGEN has struggled with this level for over a year. Recently it has consolidated with very tight price action and low volume at the highs. Volume has started to come in over the last two days as it looks to make a run for it. A good swing trade candidate. A move below $41 would have me out of the position. Earnings are out of the way so no major...
RRGB getting support from previous resistance and the 20-day EMA while contending with the 50-day SMA. Aggressive traders can take entries here but I'd rather see a green day to confirm the support before putting money on the line. 26% short interest so this thing can really move if it catches a bid.
PTON has tested support three times since it's breakout. It now appears to be breaking the downtrend. The volume profile is encouraging and looks to be under accumulation. With 40% short interest ratio, this thing can really squeeze into earnings (May 6).
WYND finally broke through the 20-day moving average yesterday. It had struggled to get it through it over the last couple of weeks. Today it pulled back to that moving average and is printing a nice hammer candle. I think the stock has bottomed and it runs to the 50-day without much resistance.