Free Scan Sunday: Stocks to Watch for Tuesday February 18, 2020

by | Feb 17, 2020

Big congrats to all those who took the SPCE trade from prior Sunday scans. We discussed prior few scans the goal for $25-30 target on the swing. Although it only hit a high of $29.89 after hours and NOT $30 I'm still going to assume y'all did alright!

Well done everyone.

Many of the big picture ideas have worked out very well from scans - the key is the wicks like we've gone over the last few. Some higher vol momentum trades like SPCE WORK and others with the wicks we've discussed with lower volume like NRBO and let them work under the radar (ie: CUO etc). If you don't know what I am talking about regarding the wicks - review the last few Sunday scans.

Here's game plan for the week ahead.

As usual goal is not to trade them all - goal is to be familiar, zone in on a handful and focus on 2-3 names off open, ONLY.

Video Scan and Game Plan

Stocks to Watch

Momentum Main Watches:

GNPX in my head I was thinking $3.20s was a key level $3.50-3.80s for parabolic but we went above and beyond that and then some. Friday I posted key levels and they worked pretty well. I am thinking we gap down but that won't cause me to avoid it. Thinking we open somewhere $3.80-4 range but ideally we gap up and provide another great opportunity. $4.20-4.40s are key $4.90-5.20s next level. More discussion on pre market broadcast Tuesday.

SPCE had an S-1/A AHs pulled back fast and then right back. I don't see that as an immediate short thesis - my goal is higher better parabolic. Into close Friday my goal $32-35 + parabolic and sit back. We'll see if it just opens a bit red and tries at $30 and fails. The key here is to treat it like RAD. The biggest pull back will come after the first one -- so you don't need to be a hero trying to find the top.

WORK so far working well. The goal after the IBM / WORK news was "misunderstood" was I was looking to buy all weakness since 60 mil shares I felt like a trend change in the chart. Weak open for break out until it doesn't work.

SUMR dips consolidation is ideal - likely waiting for Tuesday. Weak open watch for base to form. This was .30 cents so be cautious over staying if trade stops to work.

Failed Follow Through:

MYGN higher better and unwind towards $18s is ideal

BTAI higher better trend join post 945-10AM + (not bias one way or other) definitely a nice trade off open HOWEVER I expect Tuesday to be a lot less vol, thin, choppy. lt very well may end up off radar.

SPWR higher better $8.50s for failed follow through unwind

QTT pops vs. $5.50 level - higher better for sub $5s

Continuation:

PAVM dips for break out - nice continuation trade this is the type that could really accelerate. $2.40-2.30 base and break out $2.50-3 for some parabolic.

CC dips vs $19 - this is a pretty major reversal day it's been ages since this has actually held a trend with real volume. Watch for wicks to form next few days may take a swing here off dips.

IMGN great volume Friday - going to let it set up vs $6.50s and look for a break out trade over $7

Bigger Picture Ideas / Lower Vol Plays:

CUO I see some accumulation on January - then I've seen a buyer last few days on dips. I've joined trend (as noted last week on scan) going to watch all dips for possible under radar break out trade. Going to have a lot lower volume but reminds me of the NRBO idea at $9 on scan (hope for dips - don't chase break outs mentality) and scale if it is right (works). In this market these have been working.

MICR you can see the wicks, buyer there last few days. Joined trend will scale if $3.20s starts to base. You can see someone has been soaking all month.

VVNT I keep forgetting to watch - no position but definitely want to keep it on watch.

1 Comment

  1. I discovered you about a week ago. Friend told me about you. I was just beginning to want to know more about trading and there you were. I have been watching as much as I can. It is challenging but always interesting. Thanks

    Reply

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