Lincoln Alerts for 6.19.14
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INSM
Another one of the big movers today very similar in nature to what we saw yesterday with SCTY. As mentioned in yesterday’s watch with SCTY, when these stocks grind so hard in a single day they usually sell off a little in the morning, shaking out chasers, then ripping back the highs. Example look at the action today and SCTY. I’ll be on the lookout for a similar pattern in INSM. The other part of the trade would be on a big gap up above $18.50 to start the session, I would look to short if that move happens.
PLUG
As a said before and pass watch lists just when you’re ready to write off PLUG out of nowhere comes the sneaky rip. This is been a pretty good stock overall for us in the trade room. Over the last several big up days for PLUG the following day has been met with selling. Most recently on March 25 and April 21. Odds are plug will not be able to continue this momentum and as in the past this is probably an excellent opportunity to short. However, I would not rule out a potential run to the nearest resistance area of $6 before that happens
GLNG
This is setting up to be a very nice short. It was a lot better looking midday than it is at the close but you still have a very nice chart with a very nice inverted hammer on the daily. The ideal trade would be a lower high on an early bounce somewhere between $55.50 and $56.00. Even with today’s late $2 dollar sell off the stock still finished in the green which makes the 13th straight positive day. It’s due for a red, way overdue
OUTR
There is no love for OUTR. This has been a very swift drop from $70.00 down to today’s close of $61.18 there’s a possible bounce play setting up. Today’s closing price was within a few pennies of the closing price on October 23 of last year so you may see a defense of that area. If not the next support would be from October 7 low of roughly $58.30. I would like to trade a flush down in to that level for a bounce
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