I’m Still liking Rare Earth set ups( See QRM, AVL, REE,MCP ) as mentioned in a prior post. They have “Based out” and look to be moving above( and some have finding support above) their Moving averages .
I also like some of the energy stocks like AXAS , MNGA, & a few others are starting to look good.
Let me highlight 2 stocks and why I like them. SHLO and MNGA
The weekly chart of SHLO basically speaks for itself . We see
1. A break out
2. a “test”
3. and lots of volume (I LOVE THAT)
The DAILY chart I’m looking at the 50sma as support , now above the 10 & 20sma , and a MACD positive cross up in the process of happening.
It gapped open this a.m., Closed that gap, and shot back up 30 cents. It looks good, I.M.O.
One could enter around here and stop below $17.50 (or a close below $17.50). WIDER STOP…below 200SMA
I also like MNGA (bought this A.M. , but it shot up before I could draw up a chart. So here is what I STILL like about it longer time frame , moving forward.
DAILY – The MASSIVE break out in JANUARY finally “tested” and It consolidated , moving back above the 50sma.
But notice the WEEKLY POTENTIAL … this was a $1 that has potential for great gains , but likely depends on how the markets act moving forward.
On a weekly chart, it looks like price wants to test the high volume high of $2.40 area now ,and maybe much more since it is “OVERSOLD” on its stochastics. A stairway up to former highs? Volume says it’s possible.
On a daily, however , it could get ‘extended’ fast too. SO if one was to enter near here, (maybe on an intraday pullback?) they need to be nimble and able to watch the trade daily if its a quick scalp.
Or one could keep this on a watchlist , and buy a pullback