On Watch 8/10/21 From Dante

by | Aug 9, 2021

 

Check out my audio-blog series, where I narrate all my favorite blog posts for you guys. You can find that here. 

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Also we’re running some really great sales right now if you’ve ever been interested in joining IU – now would be a good time to do it. You can have a look at those options here.

WORX: Absolutely dirty into close, squeeze out above intraday resistance to the penny and then death. One piece of info you should take from that type of action, is that there is nothing but games here. It came from 2.50 a few days ago, so there’s a very good likelihood that level is back in the cards soon. Hopeful for an early morning cover rally back into mid 4s tomorrow and would love to do it all again. Feels swing type to me and back to 2s in a week or so.

FLGC: I think this is setting up for another move. You can see looking left they’re creating some nice orderly overhead resistance around 14-15 for the next squeeze move if that’s the plan. However when a name is as thin as this one, there is no such thing as resistance. Can blow dollars above or below these spots with ease, at any time. I am watching for this one to creep again back towards that 14-15 area, and if that’s the case, we probably get another nice move ideally 20+. Nothing to do right now, but keep eyes on it. Again they have a lot of paper to sell, and in a thin name like this, the only way to do that with any efficiency at all is with volume. Trading 500K-1M shares/day, nobody is selling anything. So, watch for the key levels to be tested/breached, and for the volume to come back yet again. Lot of fun last 2 weeks.

BTBT: Im sure most familiar by now, but if not, it’s just the new RIOT, nothing more and nothing less. BTC looks strong, nice moves tonight as well, so approaching this as a continuation idea for right now. Things can change by the morning, so if BTC starts to fall off, then I’ll look to short pops here. Simply monitor BTC, and look to trade this one accordingly with it. Some nice range and opportunity both ways.

Shoot me a message anytime in chat (DGTrading101 is my IU handle) and I’m happy to discuss your trade ideas with you. If you’re not an IU member and would like to become one, you can join us here.

See you out there!

-D

3 Comments

  1. Thank you, Dante!

    Reply
  2. Thank you Dante

    Reply
  3. Thanks Dante, great info as usual!!!

    Reply

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