Lincoln Alerts for 6.18.14
8 For 9 On Alerts Tuesday. This week will be good!
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Nice follow up to Monday by going 8 for 9 on trades Tuesday. On that note we will be having our 3 day Newbie Night course starting on June 30th. This course is free and covers important topics about how to trade successfully over time. To learn more and register. Click here
Watchlist $SCTY $GMCR $MNKD $IGT $YELP
SCTY
One of the more popular stocks today with over a 17.5% move. It’s going to be difficult for this thing to follow up after such an impressive outing like today but there is a little bit more room to the upside. If the chart shows strength early I would look for resistance at $65.78 from April 2. If SCTY moves beyond that early in the session I would much rather look for a place to initiate a short. You may want to add FSLR CSIQ and JASO as sympathy plays if a major move is missed in SCTY
CBI
For every power mover like SCT why there is a power loser like CBI. This stock absolutely got drilled from fraud allegations and not just today but this is the fifth straight day this thing has been barbecued. At some point there should be a bounce but these fraud allegations can be very damaging. Based the action today I think there is a short possibility early as this stock should panic out even more before offering a legitimate bounce opportunity
MNKD
This stock was the big stud mover a week ago. I mentioned back then after moving from $6 to $11 per share in such a short period of time that this stock was due for a rest. Over the last week the stock has done exactly that pulling back ever so slightly. I think if this can move back over $10.80 on good volume it should move quickly through 11 and then on to new highs
IGT
This one didn’t see much action today but I’m paying attention more to the daily chart than the intra day chart. This chart looks like it’s set up to replicate the move from June 6 where it broke out, consolidated for a few days, then broke out again. Right now the price sits close to March 7 resistance so that’s the number I’ll be looking at for further upside.
YELP
This one also didn’t see much action today but again I’m looking at the daily chart here. After being a potential buyout candidate last week, surprisingly enough this thing has held on to that gap up. If this thing can move towards Monday’s high of $75.73 it could be ready for a move up to April 2’nd resistance of $81.70. Although a very slow day for YELP I imagine that if it does break resistance a surge of volume should follow
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