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AVG DAILY VOL=832k
Great day today and past week on JMEI. This has made a massive move already but will be on watch FOR A DAYTRADE SCALP ONLY at this point. Closed right at the WEEKLY 50SMA, RSI is high at 78. To the upside, WATCH FOR BREAK OF $3.61 200 SMA resistance--->$3.75 INITIAL PT , clear that for $4 PT. Honestly at this point this looks like a swing trade winner but not with an entry way up here because this needs to consolidate first. Will be watching for the next month and the rest of the year. Needs to close over $3.61 and if this can consolidate over that for weeks it looks like this will go to 4-5$ on the weekly chart. Trades slow because float is small unless massive volume comes in.
AVG DAILY VOL=764k
After a reverse split this stock has done nothing but bleed lower (does have a very small float now as well which is good for fast moves when big volume comes in) To the upside WATCH FOR BREAK OF $2.50-->2.75 INITIAL PT Potential V bottom reversal here and a possible very short term swing possibly. $3 PT2. Break and close over that the PT becomes the 50SMA at $3.29 where big resistance exists. If big volume / news can come in this could see $4
AVG DAILY VOL= 332k
Nice day Friday yielding explosive day trades and alerts for the team. Is extremely volatile because of the very small float and moves dangerously fast. Must always use stop losses or have a plan to enter small and add large on dips which is how I traded this one Friday for nice gains. After lunch on Friday this one closed very very weak and sold off into the close. The daily candle is so very bearish but costs nothing to have on a chart and sometimes these pumps get another news event to bring in volume again. To the upside WATCH FOR BREAK OF $0.65--> $0.65 INITIAL PT Resistance basically every 0.05c on the way up now with large resistance at 0.70 which tried to form support Friday and could not hold. Break PT2 0.70 and the PTs become 0.75 and 0.80. If for any reason this does clear 0.80 and hold support there this can go to $1 if big volume comes in. Fridays volume was the biggest volume this stock has ever traded in history
AVG DAILY VOL=1.32M
This trade on Friday was an example of how myself and our team practices what we preach. We knew 0.63 was a huge resistance for this MASSIVE FLOAT stock. We knew if 0.63 broke it "should" pop to the next resistance around 0.64 to 0.66. We entered a trade buying at or near 0.63 in anticipation of 0.63 breaking due to watching level2 and see buys fly in after lunch. It ended up falling back to .62 where I took a very very small loss which was fantastic risk management, we must always have risk/reward ratios in our favor during every trade we make and plan to make before we click buy. We continued watching and once 0.63 broke instantly got in at 0.6311 selling over 0.64 in seconds. This stock has a massive float and trades very slow but can move fast when resistance levels are broken. It was a potential over weekend hold but I chose to take profits when present. I believe this can reach 0.70+ now. To the upside WATCH FOR BREAK OF $0.65--> $0.68 PT1, 200SMA $0.714 PT2 RSI 66 so this one still has room, but will need follow through volume continuation to see further upside this week, over 0.714 the next resistance is 0.75 over that and this makes a full breakout. One could say that that chart was currently in a "CUP AND HANDLE" formation and with the 0.62-0.63 break and close above has now broke out often yielding much higher prices in the near term for a possible swing trade.
AVG DAILY VOL=875k
Very small Micro float stock and VERY DANGEROUS. DO NOT GET STUCK IN THIS POS. ***DAYTRADE ONLY*** Can make explosive moves but only when trading 6-10mil+++ in volume otherwise trades very slow and traps innocent sheep for fleecing. To the upside WATCH FOR BREAK OF $3.15---> $3.29 200 SMA PT1, clear that for $3.50 PT2, $3.84 PT3, $4.00 PT4 MUST HAVE INCREASING VOLUME otherwise trades terrible. $3.00 is BEST TO HOLD AS SUPPORT. This "potentially" could be forming a reversal pattern here finally and potentially closing over $3.29 and staying above would cause a golden cross so worth watching in the coming weeks for a big volume pump
We will also use our scanners intraday and catch any possible proper setups as well!
Possible "Proper Setup" Tickers
Swing Trade WL
· $GRPN - OPEN SWING POSITION - PATIENCE REQUIRED. 1 to 3 month swing trade possibly longer for me. Golden cross on daily chart and a beautiful up trending chart and much higher prices coming imo $5 PT
· $MEET - OPEN SWING POSITION - PATIENCE REQUIRED. Potential V bottom reversal in affect here once a break and close above $3.75 occurs. $4PT1, $4.25PT2, $4.50PT3, and $4.80 GAP FILL PT4 potential 4 week swing trade re evaluating along the way
· $TEVA - DEAD CAT WATCH reversal possible short squeeze -watch for break of $18 PT $18.50
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PT=PRICE TARGET l SMA=SIMPLE MOVING AVERAGE l RES=RESISTANCE l IMO=IN MY OPINION
VOL=VOLUME l DT=DAYTRADE l WATCH FOR BREAK=KEY PRICE LEVEL/PIVOT POINT