Here are some possible plays for tomorrow. Obviously, not as easy to find good plays as it was till yesterday when a monkey throwing darts at a dartboard filled with Chinese stocks could have come up with a winner. Still, here it goes. All except for one are on the long side, so be careful if you want to try them on a down day. The short is actually the best looking chart, kinda The Chart Of The Day!
Look for an interesting OTCBB stock in the end if they hold your interest. I personally dont play them but thought it might prove profitable to some of you out there.
If there are any plays that you think are interesting for tomorrow, feel free to leave them below in the comments section. If I think they are interesting too, I will post them here along with an analysis as soon as I possibly can, but definitely before market opens tomorrow.
The first name on the list is MGM. Strength on a down day is always a plus as it could quite probably lead to even bigger gains on an up day. It has reached an importance resistance point at the 12 area. Look out for it crossing this area with decent volume for a move to 14.
CSIQ - Finished just below its trendline but look out for a support at the MA(20) for a bounce. Of course, it will also make for a good short if it cant hold the MA(20).
YGE - Found support today at the 18 support mark which has held up pretty well in the recent days. Look for a possible bounce from here.
SWC - One of my favorite plays in the last one week but I got out of it earlier today. It has gone down on lower volume and found support at a recent support level.
PAL - I like how this ended today! For a stock which has gone parabolic in the last few weeks to end with a relatively low loss on lower volume is not bad at all! Just have a look at the volume pattern in the last few days.
CAGC - And this is our chart of the day! Potentially a beautiful short setup. An island top might be forming here. Negative divergence in MACD and RSI. Next support level 30. If this goes down too quickly for you to get in, see if CGA is showing similar signs of weakness.
CCGY - This is the OTCBB stock that I had hinted at in my daily review earlier today. Nice volume on the move up. Held up nicely on a down day. At an important resistance level. A nice break of 0.75 could possibly lead to 0.9.
That's it for right now unless you guys have some more plays. Remember, its quite possibly going to be a news driven market from now on going into the earnings season, so be nimble out there!
Good Luck tomorrow!
P.S.: If you have managed to stay with me so far, how about taking the poll on the right? :) Thanks!!