Monday, June 2, 2014

2nd June - Swing Charts

1) Thompson Creek Metals - Long $TC
21.65% float short. Good buy here. Should be headed to $3.00 if overall markets stay positive this weak. Risk is small in this case. Might want to increase stop loss below $2.79 in order to give it time to run. I wouldn't bet on a break above $3.00, but could be making a higher low here and heading back to the resistance level.
Risk: $2.79 (0.72%)
Reward: $3.00 (6.3%)

2) Corning Inc - Long $GLW
I don't usually like betting on breakouts but this one has consistently been making higher lows. Will only consider this one if it opens green on Monday. Would be safer to wait for the breakout to happen first before buying. Not very good risk/reward here, but will keep on watch as chart is bullish
Risk: $20.77 (2.55%)
Reward: $22.00 (3.2%)

3) Alon USA Energy, Inc - $ALJ 

This one is my favorite this week. 20 MA and 50 MA have just crossed, which isn't something I usually pay attention to but other traders might find interesting. I think this has a good chance of heading back to $16.50. Formed a nice base above $14.00 and now perking up. You should definitely raise your stop losses as you go along, if this starts to work out.
Risk: $14.56 (2.7%)
Reward: $16.00 + (10.7% or more)

4) Green Plains Renewable Energy - Long $GPRE
I would have this even more if it has made a higher low close to the resistance line. But breakouts in Up-trending markets is usually a good bet. Plus with 19% of the Float been short, this could be a squeezer.
Risk: $28.64 (2%)
Reward: $30.36 (4% or more)

5) Olin Corp - $OLN
I'm a buyer if it breaks the 20MA. It is pretty much right on the 20MA right now. 18% of float is short so this could squeeze. Not the best risk/reward ratio. But I do like the chart
Risk: $26.63 (2.3%)
Reward: $28.20 (3.4%)

6) Angie's List - Long $ANGI
29.2% of float is short. Could be having a minor squeeze. Watching to see if it can remain above the 20MA

Note: I am somewhat long-biased right now, but that will definitely change if the overall markets act. This is NOT investment advice. Always do your own duel diligence.



1 comment: