Watchlist for 8/7/23 From Ed

by | Aug 7, 2023

Happy Monday! A few interesting moves this morning, and a couple of sneaky tickers that will go overlooked by most market participants.

AGRI is the volume leader on my scan this morning. This one reminds me a little of TTOO just because of how it has tried a couple times to run but trades thick and feels really heavy then fails. Because of TTOO I am more interested in this one today, could have a similar move. Float approx 13-14M so not huge.

TTOO not going away yet. This daily chart setup could lead to a nice breakout move, but will need a lot of volume to get there. I don’t have a strong bias either way, will let it tell me what it wants to do after open.

NKTR is a stock I really liked trading earlier this year and then it just faded into irrelevance after a couple weeks. It’s up on some promising data for one of it’s therapeutic drugs. If I remember correctly, this is one of those ones that has long periods of consolidation and then quick bursts. It’s etb so I’ll probably be trading this one from both sides assuming it maintains enough volume.

QRTEA is another similar stock that has long stretches where it goes nowhere but then big moves at times. From 3-4 on Friday it went from 0.93 to 0.88 and back to 0.93, which is plenty of movement to capitalize on. I’ll be watching this one for a bounce back over $1. It’s on SSR and it was really tough getting filled short on Friday, but it is etb if it can’t push back over $1, probably fails pretty hard and I’ll change my bias if it looks heavy early on.
SDC is a tricky one for me, it doesn’t setup the way I like these stocks to, but it is primed for a nice move over $1 on the daily chart and if it looks strong near open I’ll try to grab some for that push.

CEI looking at the daily chart it is sitting right on the support it has held for a few weeks. It is also a near perfect head and shoulders chart pattern since 7/12, so maybe this is where that neckline breaks and it fades off. No strong bias on it, not necessarily going to trade it but keeping an eye on it.

FOXO gapping up this morning on a fluffy pr about a joint venture blah blah blah. I like the daily chart and it has shown that it can run, will be watching this one for strength to get long if it holds these early gains.

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