No new moves for me Monday, I opted to lay low as I didn’t love any setups. U.S. stock futures continue to advance, nearing breakout levels. After several days of run in the market, if an oversold stock hasn’t bounced, caution should be exercised in case the overall market starts to stall. With that in mine I move my attention to a handful of stocks with a bid.
Pot stocks certainly fit that category and SSC was a big news winner Monday so let’s take a look at some of the hotter names for Tuesday that still have good risk / reward.
—– Related —–
CANN – Continuation chart pattern with a sector catalyst and serious upside potential to the MA(200) and $4.40’s to follow. Chasing the move some so probably only 7,000 shares with a goal of $.50 a share or $3,500.
BUDZ – Finally caught a bid Monday and wow did it move nicely. Range to the MA(200) is even better than CANN above so this is likely the stock I’ll go with. Thinking 7,000 shares above the MA(20) looking for $.50 / share or $3,500 profit.
SSC – News winner that retraced a lot of it’s move Monday but should be on watch for a retracement play around $3 this week, with the potential to challenge the recent high $4 and move to $5. It’s likely I’ll give this a day to rest above the MA(200) before making my move.
[Ed. Note: Jason Bond runs JasonBondPicks.com and is a swing trader of small-cap stocks. In 2015 he earned a 180% return on his money. Then in 2016 he turned a $100,000 account into $430,000! Discover How He Did It]