Good morning
Equities are gapping in premarket ahead of new ISM and PMI data at 10 am ET. Concerns over Italy have eased a bit as Italy government plans to cut its budget deficit. The petroleum status report comes out @ 10:30 ET and could impact oil and energy names. The dollar is basically flat while oil and gold are both up slightly in premarket. The action has been pretty choppy this week and follow through has been challenging to find unless it is in the really highly speculative squeeze plays names like IGC. The lofty cannabis sector is extremely volatile and for some of these names it is going to end very badly for the chasers. Be careful in the space and play size appropriate.
Click here to see the charts for the stocks listed below
$RUN potential flag breakout insider buying could be more of a swing play nice looking daily
$VTVT
Form 4 Filing Late Monday Showed vTv Therapeutics 10+% Owner Ronald Perelman Bought 1,879,699 Shares at $1.33 big pop yesterday getting some follow through do not chase look for intra day setup 2 could be area of support for a bounce potential day trade or higher risk swing on pull to potential support
$SPNE
SeaSpine Raises FY18 Sales Guidance From $136M-$139M To $141M-$142M vs $139.08M small floater potential breakout and follow through play higher risk swing because of the small float but entry area could be in the 15.00 -16.00 area need some volume and could be a day trade as well on a break over 17
$INO
Stifel Nicolaus Reinstates Buy on Inovio Pharmaceuticals, Announces $8 Price Target can be a pop and flopper do not chase biotech name so risks are there ,, flirting with 6 roll potential red to green play day trade or higher risk swing with an entry in the 5.25-5.50 range
$OGEN has had a nice 3 day run getting extended could be scalp red to green play or a potential short for those so inclined if it gets even more parabolic 4.40 could be overhead resistance
$PRTK
Hearing BTIG Raised Stand-Alone Price Target On Paratek To $38, Price Target In Takeover Deal To $56
PRTK
Paratek Announces FDA Approval of NUZYRA
PRTK
Paratek Pharma Reports FDA Approved SEYSARA For Treatment Of Inflammatory Lesions Of Non-Nodular Moderate To Severe Acne Vulgaris In Patients 9+
Potential swing off two approvals I placed a limit buy @ 9.60 for a small starter
$UUUU No news but the daily still looks good URA also flirting with the 200 day the uranium sector looks like it is getting some action worth watching for potential breakout.
$SDPI oil and gas name small floater could be interesting as a swing with an entry as close to 3 as possible 2.50 would be even better may look to get a starter in the 3 range and potential 20 SMA support
$GTES Recent IPO cup and handle formation on the daily 18 could be area of support and potential entry area for a swing August 1, 2018
1:36:30pm
GTES
Gates Industrial Raises FY18 Outlook, Now Sees Sales Growth 10-12%, Adj. EBITDA Raised From $738M-$758M to $745M-$765M
$SNGX Interesting daily may need to raise cash soon potential Ricen related play watching 1.50 -1.60 area for potential bounce
day trade only
$PYX
Pyxus International shares are trading up 14.6% after its Canadian subsidiary, Goldleaf Pharm, received a cannabis cultivation license from Health Canada. Small floater had a pop and flop yesterday off that news tiny floater could see a red to green scalp opp
$STNG
Scorpio Tankers (STNG)
STNG Option Alert: Oct 19 $4 Calls Sweep (37) at the Ask: 12363 @ $0.051 vs 15596 OI; Earnings 11/15 Before Open [est] Ref=$1.9775 looks like it is basing > potential 2 test and roll possibly a swing or day trade opp
$AFMD consolidating after the big pop looking for some volume to come in.. 4 seems to be acting as support
$ELGX Endologix, Inc. (NASDAQ:ELGX) reported third-quarter preliminary sales of $34.3 million to $34.7 million. The company narrowed FY18 sales guidance from $145 millionto $155 million, to $150 million to $155 million. Endologix shares jumped 38.95 percent to $2.39 in the after-hours trading session. double bottom on the daily gapper insider buys much higher prices could be a day trade or higher risk swing opp looking for 2 as potential support and entry area
$ADIL Adial Pharmaceuticals Inc (NASDAQ:ADIL) shares spiked up 10 percent. No news was immediately available. Recent IPO with an itty bitty tiny float potential day trade do not chase and make sure there is volume to even consider a trade
