“THE STOCK MARKET IS NEVER OBVIOUS. IT IS DESIGNED TO FOOL MOST OF THE PEOPLE, MOST OF THE TIME.” -JESSE LIVERMORE
Good morning
Global trade tensions continue with chatter of the Trump administration moving forward with 25% tariffs on 50B worth of China goods while Trump has a war of words with Mexico over who is going to pay for "the wall" and Italy continues to spook the markets with potential destabilization in the Euro Zone. Even with all that stuff going on equities are actually up in premarket. The dollar is down slightly with gold, while oil is up just a tad. We have a few economic data points today that could set the tone with mortgage applications, ADP jobs report, and GDP for the 1st quarter.
I have several other stocks on my radar this morning besides the list below. We can talk about them in the live session. Do not chase and always have a plan
Stocks on the radar
TXMD TherapeuticsMD Announces FDA Approval Of TX-004HR: IMVEXXY (estradiol vaginal inserts) For Moderate To Severe Dyspareunia Due To Menopause. So far looking like a pop and flopper 5.60 6.00 area could be an interesting area for a bounce off the round number or 50 day ma they could stand to raise some capital as well
ICLK Interactive Asia Group Sees FY19 Sales $175M-$180M vs $175.63M Est earnings behind them nice looking daily potential flat top break out swing play ideal entry 7.50-8 area for potential support and bounce
ENT significant insider buying activity in the 1.81-1.96 range, potential pull to 1.40-1.80 area as support could provide an entry for a higher risk swing off a potential 50sma bounce found resistance at the 200 day and the 2 dolla holla
EKSO Insider buy @ 1.51 a share largest I have seen in quite awhile of 200k shares could get some follow through they will likely need to raise cash soon so be careful look for a potential red to green do not chase >lots of eyes on it, more of a day trade or higher risk swing small floater
AVXL
H.C. Wainwright Initiates Coverage On Anavex Life Sciences with Buy Rating, Announces $10 Price Target potential 50 simple bounce could stand to raise money so an offering could be around the corner potential day trade opp with volume 2.35 -2.40 could be entry area looking for a test of the 200 day around 3.25
ARAY
Accuray Announces Data From 2 New Studies Highlighting What They Believe Is The Benefits Of The TomoTherapy System In The Delivery Of Total Body Irradiation potential bounce area ideal entry as close to 4 as possible day trade opp with volume
DKS
Dick's Sporting Goods Q1 EPS $0.59 Beats $0.45 Estimate, Sales $1.91B Beat $1.89B EstimateD
Dick's Raises FY18 EPS From $2.80-$3.00 To $2.92-$3.12, Sees Same Store Sales To Be Flat To Down Mid-Single Digits YoY gapping into potential price resistance on a pull to 31.50 32.00 area could be decent entry area for a bounce day trade if you like trading retail an entry as close to 30 would ideal for potential swing
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Wednesday's economic calendar
7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
8:30 GDP Q1
8:30 International trade in goods
8:30 Corporate Profits
8:30 Retail Inventories (Advance)
8:30 Wholesale Inventories (Advance)
8:55 Redbook Chain Store Sales
2:00 PM Fed's Beige Book
3:00 PM Farm Prices
Fed to Issue Proposal to Modify Volcker Rule
