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People have pointed out many times that it is important to take your profits often in these market conditions and WAMUQ is a great example. On Tuesday, it hit a high of $0.218 and people used that as an opportunity to take our profits because it was our target area. On Wednesday, the stock gapped significantly lower and hit a low of $0.163 during the session. Although the stock is holding support at $0.17 people think it will struggle to make gains in the short-term.
It was an exciting day for IMGG. People were expecting a bounce on Wednesday and people were not disappointed. During the session the price hit a high of $0.307, which is almost a 23% gain from Tuesday’s closing price. The strong price action today should lead to another positive open but remember to take your profits before the price starts to slide again.
On Monday, ESLR re-tested support at $0.65 and people could see some follow through buying at today’s open. Investors were quick to take advantage of these lower prices so people would not be surprised if this stock retests resistance at $0.75 in the next few days.
People continue to watch SFMI because people want to see just how far this price has to fall before people see a significant bounce. Just a few months ago, it was trading at all-time high prices and now it is testing support established in April. People are watching the $0.13 area very closely. If this price holds in the near-term people could see an opportunity for a quick bounce play. If the price breaks below $0.13 it could fall as low as $0.075 before it attracts buyers back to the marketplace.
As people pointed out, the $0.525 area has provided some support for GRNO. After hitting that level on Monday, investors drove the price to its recent resistance point at $0.65. Although volume was well below the average for the last few days, this price action could lead to some follow through buying at the open.
AEHI is another stock people put on our watch-list on Friday which has good potential if volume can increase in the next few days. The price has tested resistance at $0.50 for three straight sessions and if investors manage to push it higher, they could drive it to the next resistance level at $0.60.
GRPR also remains on our watch-list. The stock has traded in a fairly wide channel, with support at $0.70 and resistance at $0.80. The neutral close on Monday is an indication that resistance should break in the near-term. A break of $0.80 would lead to a test of minor resistance at $0.90 and a break above that price should lead to a drive back to $1.00. Volume will be the indictor to watch for in the next few days; if it increases so will the share price.
People wanted to quickly talk about OXGN because it is a good lesson on knowing when to take your profits. People exited most of our position on Thursday when the stock hit a high of $0.40. That represented a strong resistance point. However people did have a small position in case the stock managed to break that level. But the price action in the last few days is an indication that the stock could struggle to make gains in the near-term. The lesson all traders must remember is to take their profits. An unrealistic gain can turn into a realistic loss very quickly.
People added CTSO to our watch-list on Friday and it remains there for the time being. The price is holding good support at $0.09 but if it is going to move higher, people need to see stronger volume. This stock does have good potential but people want to see a break above $0.095 on higher volume before people jump in to this market. The stock closed at its high of the day on Monday so people are expecting some follow through at today’s open.
WAMUQ is the story of the day. People have been watching this stock since it was trading around $0.17. The strong price action last week was a very good indication that prices would move higher in the near-term and so far people have not been disappointed. The stock has held good support at $0.18 for the last few sessions and this triggered a strong rally on Monday. WAMUQ hit some resistance at $0.20 but if volume remains strong, people think it has enough momentum to reach $0.21 this week. So far, WAMUQ has made gains of 17% since people jumped in on July 12.
Finally, BIEL continues to inch higher and if volume remains strong, this stock should break above resistance at $0.02 in the short-term. The stock has managed to hold strong support at $0.018, which is why we are bullish but people are waiting for a clear signal that this stock is ready to move higher and a break of $0.02 would be that trigger.
Another stock we like is CTSO. It managed to close above resistance at $0.09 and is close to testing the next level at $0.095. This stock has been volatile for the last month so people would watch the open. Strong buying at the open should be a good indication that this stock is ready to resume its uptrend. The positive close yesterday should help to add some momentum to today’s open.
AEHI is a stock that looks like it’s ready to take off. On Thursday, it tested its support at $0.40 and resistance just below $0.50. The fact that the stock closed in positive territory and was able to trade higher than average volume is a good indication that it should break above $0.50. People are expecting to see a strong open this morning and if volume is strong enough the price should even break above the next resistance level of $0.60.
SFMI remains on our radar. This stock made decent gains in May and as optimism picks up in the marketplace, people think this stock has the potential for another uptrend. For now people want to see signs that the price is forming a bottom, and people could be close. On Thursday, the stock hit a low of $0.155 which created a buy signal for some investors. The stock closed in positive territory at $0.165. A break above resistance at $0.175 would be very bullish in the near-term.
Last week ESLR made some decent gains and it looks like investors are trying to create some momentum. In the last two sessions, the price has held at support around $0.69 and for the last three sessions, has closed in neutral territory. If volume increases, ESLR should break through resistance at $0.75.
GRPR ended Thursday in neutral territory and its strong open was an indication that investors are interested in taking this stock higher. As volume improves it is only a matter of time before there is a break above $0.80, which should lead to a test of resistance at $0.90.
People are starting to see investors take their profits in GRNO. This stock has made some very strong gains in the last seven sessions so people knew it was only a matter of time before the stock corrected. People are going to watch $0.43 and $0.425 as support areas, but investors could start buying the stock before that price. There appears to be some minor resistance at $0.52 that might attract investors back to the marketplace.
People were disappointed in the price action in ZMGD on Thursday. This stock had great potential to move higher. On Wednesday, it traded almost 2 million shares and tested resistance at $0.022. But investors could not maintain that momentum and there was strong selling pressure at the open yesterday. The sudden drop triggered our stop-loss at $0.017. This stock traded in a tight range, so people wanted to control our risk. Although we are out of this one, we will keep it on our radar to see if there’s another opportunity to make money.
ALTO suffered from low volume on Thursday but people remain optimistic that it will break above resistance at $0.025. When volume increased during the session, people saw that the price also moved off its low so this is a good indication that stronger volume will support higher prices in the near-term. Remember to respect your stop-losses. If the stock breaks below support at $0.02 you should be prepared to get out quickly.
WAMUQ is barely hanging on to its recent gains, which could be an indication that sellers are jumping back into the marketplace. For the third straight session WAMUQ was unable to break resistance at $0.185. Volume is still relatively low so this will have to improve if the stock is going to maintain higher prices.
Our profits continued to roll in on OXGN as the stock hit a high of $0.40 yesterday morning. There was some volatility in the afternoon as the price dropped to a low of $0.28, but that didn’t last long as investors jumped at the discount and drove the price to close at $0.36. People pointed out that this stock looked like a good buy when it was trading around $0.30 so yesterday’s high represented decent gains for holding the position for a few days.
Another good stock that looks ripe for the picking is GRPR. This stock has held support around $0.70 for the last four sessions. People started to see some buyers come into the marketplace on Tuesday as the stock closed in neutral territory. There was some follow through buying on Wednesday as the stock closed at its high of $0.77. People would like to see volume pick up and that could happen if people see a break of resistance at $0.80.
Last week people pointed out that GETA was starting to build momentum and people saw a strong move on Wednesday which should lead to further gains today. In the July 8 newsletter, people said that GETA was holding good support at $0.03 and should start to attract some buyers. People received our buy signal on Tuesday when the stock closed in positive territory at $0.0325. On Wednesday the stock managed to rally to a high of $0.036. This bullish price action should to lead to a test of the next resistance point at $0.04.
People continue to watch BIEL as it moves through its consolidation period. The stock closed in neutral territory after hitting a session high of $0.0195 and a session low of $0.0183. Looking at the price action, there are signs that investors want to push this stock higher but to do this volume will have to increase. A break of resistance at $0.02 could attract some buyers and help push the stock higher.
Traders have made some decent profits in CRBC and the stock has held on to most of those gains in the last three sessions. For the second session, the stock has found good support at its 20-day moving average of $0.87. If this price holds, it could attract investors and eventually lead to a test of resistance at $0.95.
GRNO continues to move higher and volume remains strong but people will wait patiently for the price to fall back – it doesn’t pay to chase the market. Most of the time, traders who do this end up buying shares at the pinnacle. This could end up being a very good trade. When the price starts to dip, people know from the volume that there are a lot of investors who would be interested in buying at a lower price and lowering their average cost per share.
WAMUQ managed to close in positive territory for the fourth straight session but is struggling to hold gains above resistance at $0.185. People were expecting this price to break on Wednesday, which would have been a very bullish sign. If volume can start to build people should see a significant rally in WAMUQ.
Our winning streak continues with ZMGD. People warned traders to watch the $0.02 area because a break of that would lead to strong buying. After breaking that area, the price hit some resistance at $0.022. However look at the MACD people can see that momentum is in a strong uptrend so people are expecting to see higher prices in the near-term. A break of $0.022 should lead to a test of the May high at $0.028.
ALTO is also showing some positive gains. People added this to our watch-list yesterday morning, pointing out that the stock was forming a double bottom at $0.02. There was some modest selling pressure in the morning and the stock once again tested support at $0.02. However, as volume picked up investors took advantage of the discounted prices and drove it to a high of $0.025 where it closed.
Our recent pick OXGN was a big winner on Wednesday. As people pointed out in the morning, this stock had the potential for a good bounce play. Investors could have bought OXGN at its low of $0.295 in the morning and sold some of it in the afternoon at its high of $0.379. That is a gain of 28.5%. Volume remains strong and the positive close at $0.35 is a good indication that people should see a strong open this morning.
Finally, people were disappointed in KBX’s price action. This is a bounce play that had a lot of potential and the strong buying ahead of the open caused it to gap higher. Investors used that as an opportunity to take some profits and drove the price to close at $0.70. However, it’s not all bad news. Volume was relatively low on Tuesday so if activity picks up, the price should recover fairly easily. The first resistance point for this stock is $0.75 but the major test will be at $0.80.
People have added ALTO to the watch-list because the price is forming a nice double bottom and the renewed buying in the last hour of trading yesterday could carry over to today’s open. On Tuesday, the stock hit a low of $0.02 but investors quickly jumped on the bargain prices and drove it to a neutral close at $0.022. A break of $0.025 could be very bullish for a near-term reversal. The first major test of resistance is at $0.035.
OXGN held good support at $0.29 last week and people started to see some buyers step back into the marketplace. On Tuesday, the stock closed at $0.318, only a fraction lower than its session high. Volume was also good so people are expecting to see a positive open with strong buying. The first major resistance point for OXGN is around $0.40.
GRNO has popped up on our radar as it continues to make some very impressive gains. However people are just going to watch the stock for the time being. It has closed in positive territory for six straight sessions and is due for a pullback. People want to wait for the correction period to end before people jump into this trade. During the inevitable pullback, a good support area to watch for is around $0.43 and $0.425, which is the 38.2% fib retracement level from Tuesday’s close at $0.56.
ZMGD is another stock with the potential to move higher if it can break resistance at $0.02. At the start of the month, ZMGD rallied from $0.008 to a high of $0.022 so it is not surprising people are seeing a consolidation period. People would like to see volume pick up again, that would be a good indication that investors are ready to push the price higher.
The recent volume and price action in BIEL is a good indication that investors are starting to accumulate. This is a good sign that the consolidation period is nearing its end and people should see a significant rally in the near-term. The stock has traded in a fairly narrow range, with support at $0.018 and resistance at $0.02. As momentum continues to build, it should only be a matter of time before these price breaks, which should lead to a re-test of its recent highs of $0.027.
ABK is another stock that’s been on our radar the last few weeks. As people are mentioned, it has been holding good support at $0.62 and people were expecting this low price to trigger a strong buy signal. On Tuesday, the stock gapped significantly higher and although some investors decided to take profits off the table, it managed to hold on to some gains made between its opening price and Monday’s close. As optimism continues to grow, this stock should move higher. The next major resistance area is $0.80.
WAMUQ tested an important resistance point of $0.185 on Tuesday and its third positive close should create strong momentum at todays open. A break of its near-term resistance on strong volume would be very bullish in the near-term. If volume picks up, people should see this stock hit its recent high at $0.21. People are expecting to see a strong open this morning.
PARD is another listed stock people are watching and after Monday’s impressive rally people are expecting to see a very strong open this morning. The stock managed to close above near-term resistance at $0.60 and if volume improves, people should see a drive to $0.70 in the near-term.
KBX is another listed stock that has the potential to be profitable, similar to ESLR. It has been holding good support around $0.63 and a drop to that price on Monday triggered a very strong rally. It managed to hold on to most of its gains and closed at $0.67. However before people jump into this stock, people would like to see stronger volume. Only 74,500 shares were traded on Monday and with this low liquidity, it would not take a lot to push the price around.