News/Earnings Stocks (as of 7:30 a.m. CT publication)
– NOTE: I’ll likely be trading many of these names in the TRADE DAY CHAT section of the site…I’ll be in the room starting around 6:30 a.m. CT —
Gapping Down –
No Indication —
Highlighted Looks for Today’s Trading :
Range break long: CE // ALKS // SIG // COG
CE gapped up in mid April after earnings, stopped just below 52 week highs made in mid Feb, and has been trading sideways ever since. Some nice volume into the close on Friday, as it finished on highs. Watching this for a convincing breakout past $50.
ALKS is setting up like it wants to be the next biotech high flyer. Has been forming a wedge pattern for the past month after a big surge out to 52 week highs in mid April. Strong day Friday after it rejected a quick downward spike below $30. Watching for a high volume breakout move past $32 resistance area.
Super tight range at 52 week highs was finally broken in SIG on Friday with an opening rage surge. Watching for follow through.
Strong candle Friday in COG, has the stock ready to break out past wedge pattern that has been forming for the past couple of months.
Pullback Long: THRX
Three days of pullback in THRX following a big gap n go move after FDA clearance. Left a doji candle on the daily Friday after a couple failed attempts lower in the first hour. Watching for relative strength/volume on a move above $40 in a strong market.
Reversal short: RHT // UDR
RHT has left some upside wicks the past 3 sessions, and Friday, could only muster a doji candle on the daily, suggesting its getting a little bit tired after the big move the past month. Will watch for relative weakness and a possible short thru the 54.40 level from Friday if the market feels weak.
UDR finally put up a red candle after a very steep, organized 9-day bounce on the daily chart. Watching for a short through 26.35 if the market is weak.
The creation of this morning’s Early Bird Report was compiled while listening to the music of Daft Punk