Chart Reviews Friday Dec. 5 - Current Trade Chart Review + 2 More!
In this video, I review the current trade calls we have out. Additionally, I give a brief review of $SYN, $OREX, and $ACRX
Charts reviewed in depth here are $FOLD, $INVE, and $VOLC
New stop loss opinion from me for $FOLD = Between $8 to $8.10, average stop loss = $8.05 New feature for stocks/stock channels; If and when we hit a stop loss range, if I think the stock/channel is still worthy, I will list a "rebuy" range as an opinion where to potentially go long again. For $FOLD, not solidly determined yet as there are many factors why a stock goes lower.
$INVE has left a potentially slightly bearish hanging candle from its last session, so my opinion is that if you are purely trading it, the stop loss level would be around $12. Remember, INVE is a low floating stock, so as we have seen in the past, a move of 50 cents to a dollar is rather common in either direction. Ultimately, I do not think we will hit $12, but its possible as we failed to clear the heavy resistance at $13.80 range (needed more volume, I explain why in this video) as I noted in my last video
$VOLC as also noted in my last video, failed to clear $11.60, which I noted that I'm not willing to commit any real shares until I see a good volume move that breaks into the pivot resistance area of $11.60 to $11.75. This a very important range for the stock, and if we can break it, it's a good bet we see another dollar or so to the upside, so if you aren't playing for a buyout, it potentially can offer a nice trade profit -- but we have not got there yet.
I assign both $FOLD and $VOLC a 7 out of 10 chance for near term acquisition, with $FOLD being the better trade, while $VOLC the slightly better odds of an acquisition in a shorter time frame.
The rest is in the video, give it a good watch and listen!
Scott
