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UXIN: I think I see this one pretty clear, with lockup coming next week, I’d assume higher over the next few days, don’t like this short yet. I couldn’t draw a line any straighter if I had a ruler under 8.30 support, they’re playing complete games with this, and my guess would be maybe a trap day tomorrow then a jam into end of week towards 10+ before lockup next Monday. Very unnatural action today. Ideally a weak open tomorrow towards 8, then a reclaim of that 8.30 area and looking to get long.
JNJ: I think this got a little crazy and overdone, partially by emotions, and partially by the shaky market, so looking for a green SPY day tomorrow and this should be one of the leaders that recovers with it nicely. Looking for those 127s to be a bottom and want to get long tomorrow. However, don’t try to catch this knife if the market isn’t cooperating. JNJ made a big mistake if this story is true, but it’s probably not a 50B dollar mistake.
NBEV: Very controlled action here as well. Damn what a weird watch list today… 3 long ideas, hah. I believe that is a first. Is what it is – this seems like someone’s been accum’ing for a while now for a big move higher in the near future, just has the look to me. So like the others, I’m watching for a weak open to be saved, and look to be buying dips once some higher lows show up and a trend forms.
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See you out there!
– D
Regarding UXIN you stated “they’re playing complete games with this” Can you please clarify what you have seen happen that makes you conclude that?? Thanks!!