July 17th – Fast Friday

Honestly, we really didn’t see any big change in the SPX, NASDAQ, or OIL with yesterdays trading, but we did see some Very Fast Turns in the Covid/Biotech Sector.   I’m going to go right to Gold & the GDX and then just highlight a few trades. We discussed MANY different trade set ups over the past few weeks, so most of us probably already have our hands full of trades and watch-lists, but we’ll cover a few anyway.  I discussed Tech, Biotech, Oil & Gas, Miners,  Uranium stocks, etc., so this report will just be a bit shorter.  It is Friday, the last trading day of the week.

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GOLD closed below both the 10sma & the Trend line. That usually signals a drop into a dcl is starting, and this late in the timing? It makes sense.

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This was in Thursdays report:  GDX – Zooming in we see a day 28 count off of the lows with 24 being the ‘peak’, and that is bullish  ( R.T.). A handle could chop price & take this to roughly day 32ish low.

 

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  GDX –This is just an example of how a ‘handle’ could form over the next week or so.  That could be a very mild but choppy dcl at the 34 sma .  This also means that individual Miners may or may not be affected very much by the dip.

 

Yesterday we had some explosive action in the Biotech – Corona stocks that I’ve been pointing out, so I do want to discuss a couple of trades in that area. We may see more follow through in some of them, just like we did with HTBX…

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HTBX – Congratulations for hanging on to a LONG CHOPPY BASE! 

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FROM YESTERDAYS REPORT: I have repeatedly shown the NOVN base & set up. This is my July 9th chart at 50 cents. A break out upside might really get good.

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Wednesday :  NOVN is still choppy, but it kind of looks like it could break out sooner than later too. It CAN drop back to the 50 sma near 45 cents as a false break out here too, so be aware of that.  The volume increased yesterday so this may be getting close to breaking out.  That JUNE pop was a 100% move and I sold a bunch and have re-purchased down here.

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THURSDAY:  NOVN was up 16%, and closed up 11%. The volume is increasing and it may be time for NOVN to take off higher from that long base too. 

 

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From Yesterdays report:  RGLS #1  was another that ran to $1.00 & retreated.  This was a good run from 50 cents to $1.00, and I like the company.  I re-bought this at the trend line and this is also near the apex so it either breaks up or down. Let me show you something else…

 

 

RGLS #2  is actually in a 1.5 year base and that MACD is what caught my eye when I first found this. So, we already know that it popped to $1 in June and pulled back …

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RGLS – I captured this midday for the live trading area (Chart says RGLD, sorry about that, it is RGLS.   The ‘s’ is next to the ‘d’ on the keyboard).

On Thursday RGLS  did start to break out & jumped up 10%, so I posted this midday as a buy or ‘add’ to position.  This can run back to $1, and then break even higher.  It is still a buy in my opinion. 

 

CODX JULY 14 – A buy as it regained the 50sma. This sector is on fire and even though this is choppy, it trended higher from under $8 to $30, and now $18.  It was a buy…

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CODX – This could be the last chance to get on board, since it started to push higher and was up 8%.   $18 to $30 (former highs) is not out of the question.  

 

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BNGO  –  I  ( or maybe we) have been riding the BNGO base for a while, but the good thing about the BNGO Base is that it is a slow uptrend. We are at the Apex, and since this sector is on fire, I think that this can break out and run. This was captured 1/2 hr before the close, it was up  1.72% here.

 

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BNGO  Closed up 3%, I love the set up. I will add on a break out, and sell partials if it rallies strongly.

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APHI – This is the toughest ride I’ve owned out of all of these Covid-Stocks. It doesn’t look it, but it is very choppy.  It flipped higher off of the 30 sma and looks very good.  Let me show you something else about APHI though…

 

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APHI – There is a Bullish Weekly Chart Pattern called ‘3 weeks tight’.  Price fluctuates during the week, but almost closes at the same price for 3 weeks in a row, sometimes 4 or 5. It is an extremely tight consolidation and can break  out sharply higher.  We may be seeing that here. We are also at a small down trend line, so a break higher by AHPI could lead to a strong run. ( You may recall that they Manufacture & sell Respirators). I actually bought this above $7 and sold this up near $14, but I just got back in at the $10+ area again. 

 

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OPGN – I have never mentioned this one because it was a Pop & drop choppy base. I ended up buying it Thursday when SO MANY of these started to run again. You can see the potential if it finally breaks from this base, so I am trying to hold it as a swing trade ( more than a week or 2 unless it surges over 50-100% ). 

 

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Non-Covid related

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CLF is crawling under the 200 sma and could be preparing to break out. That break out is a buy, or you can get in early with a stop under the blue trend line.

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UUUU from yesterday, this remains under that 50sma, but looks like it will break out. Buy it here or after the break out.

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AUTO – This is an online auto sales assistant. The reason I am showing it is because this base is chopping higher and has already gone from 60 cents to $1.30, with a peak at $1.75.  THIS IS A VERY DIFFICULT RIDE, but it has continued to make gains.  lets take a look.

  They had May 7th earnings ( good report) and it Popped.  Then it chopped again and they had June 25th earnings of improved profits and it Popped again.  Well, it is at the lows of that base and seems to just be chopping higher, so it could be bought here with a stop at $1.30 and may be at $2 in a month or so.   I do not own it.

 

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  I do own this.  PHUN Popped Wednesday and then Sold off, but Thursday it flipped higher again, so it may be a low risk entry here. Many of the Chinese Stocks are taking off too.  See JRJC, SEED, LEJU, BHAT, etc.

 

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SPCE – Virgin Galactic Rallied very strongly as an IPO. It then came back to earth and consolidated that parabolic run , finding support repeatedly along the 200 sma.  It is now above both the 200 & 50 sma.  It Popped last week with volume, stalled for 4 days, and started to push higher Thursday. I mentioned in the live section that this is a BUY. Why?  If it is breaking from this long base, it can lead this back to $42 over time.  Those are great gains for a buy & hold swing trade. 

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NOW LET ME SHOW YOU SOMETHING ABOUT ANOTHER SIMILAR RECENT TRADE SET UP THAT I DISCUSSED HERE…

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JKS JULY 1  – This was me expecting a base break out in JKS.  I drew it as

1. A future break out,

2. A back test, and then

3. A run to former highs.  We could expect something similar with SPCE.   And…

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JKS has now done a break out and a back test is taking place now. A break from this wedge will also be a good place to buy or ‘add’ to current positions.  This can run to prior highs.

Don’t forget the bullish set ups on other stocks like CHFS, CCJ, NXE,  Several Energy Stocks, etc.  Enjoy your Friday trading & your weekend!

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~ALEX

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BONUS: I saw this Wednesday.

A BREATH TEST FOR COVID?!!  No more SWAB deep in the throat or nasal passage?   No blood tests  and instant results?  THAT would be a game changer, right?   They discussed it as being used for cruise ships, airports, functions, etc. and it works on those that are asymptomatic. Astrotech Corp should be flying in my opinion, but it isnt (yet).

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ASTC – When I read that report, ASTC was just doing a small reversal, but was under the 50sma and seemed rather lame…

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ASTC – Suddenly it Popped 16% yesterday .  It may be ready to go.  I am either missing something, I got the story wrong,  or this is a no brainer for cruise ships, airlines, etc.  and should be a $10 stock.   The only problem is that it is still being finalized for approval.  Once it is and goes up for sale, I would think this would fly. ( I do not own this yet, but almost bought it Thursday).