Watchlist 5/17/22 & Recap
Hi everyone,
I hope Monday started off right for you. Those who swung INDO, HUSA, VRM, HOUR, VERU and RDBX with me last week, I said patience would pay. Believe it or not, oil stocks still not done..
It’s been a challenging 4-5 months for most traders, even the most experienced. Realistically most traders aren’t accustomed to this new dynamic due to the influx of 2020-2021 pandemic traders. Not many are accustomed to holding stocks; or they’ll hold far too long, and not take their profits. Many are taught to simply scalp or short all pops. It’s a different ball game now. Technique and strategy has been tossed out the window. It’s become a gambling environment (sad to say). To set yourself apart, and to become a strong trader in a bear market, it’s crucial that you’re selective with your trades. The good news for those entering this market at this time; if you’re able to be consistent as a bull in a bear market, once the bull market returns, you’ll be able to make money in your sleep.
With earnings getting wrapped up, this is the time to pay attention as investors tend to prepare to buy in slowly now that they have the full financial picture of each company. Realistically, because the market has set most of the companies stock prices back pre-pandemic levels, even if earnings aren’t the best, as long as that company is in a hot sector (oil, gas, agriculture, food), the chances of it recovering is more likely. Keep a very close eye on oil stocks since Crude oil hit above $114 levels earlier today. I’ll be watching to see if it can break its highs above $120 levels in the coming weeks. Due to food shortages, farm explosions, food inflation, etc. expect agriculture stocks and dry food brands to break new highs in the coming months.
I apologize for posting so late. All of this takes me at least 3-4 hours now, on top of my full time jobs and projects. I want to make sure I get as much information out there for you to ensure you make the best decisions for your style of trading. Hope everyone continues to have a great week! Stay positive and may all your accounts be blessed.
Manage Risks & Trading Plan Disclosure
These are my trading plans, and many ask if I’m holding this or that. If it breaks any of the dip zones that I mention or if it breaks the trend line for a swing on the 5D/30D chart, I will respect my rules and I will respect my stop loss and wait for the setup to re-enter. Never bag hold, never average down on a loser UNLESS you’re confident it will reverse, and never turn a day trade into a swing if you do not have a set plan. For those under PDT, be careful with setting up swings too early in the day; I prefer waiting until after lunch (EST) to set my swings up (unless it hit my perfect dip zone). Always make sure you have a day trade available in case you need to exit and reposition. It’s okay to be wrong, but it’s not okay to stay wrong. Hope doesn’t make us money; proper risk management does.
Many of these are great long term plays if one was to load up on red days while respecting the trend line for setting up swings. There’s nothing wrong with buying on green days if buying the BIG pullbacks. Best way to get burned is to chase while they’re ripping upward.
SSR triggered setups are my preferred setups for swinging. This does not mean that it cannot be shorted. If the volume is high, price action/momentum is there, with upcoming catalysts; then this is my preferred setup as someone who swings. I keep a mental stop in case I need to reposition my swing. Not every SSR trade will move up; there are many variables one must take into account when trading this type of setup.
I do NOT hold all stocks listed below. I provide a list of top mentions/trending/abnormal volume movers/upcoming catalysts/earnings/conservative large caps. You decide what you trade based on your preference.
5/17/22 Main Watch
If the market is red, consider respecting your stop losses. Stopping out doesn’t mean you’re unable to re-enter; it’s you giving yourself the best setup while managing your risks, and maximizing profit potential. Waiting for confirmation is crucial once it hits the dip zones; I would never just jump in and buy. It’s important they hold at the dip zone levels. If it breaks below, I typically wait for it to reclaim that dip zone before scaling in.
INDO
INDO hit low of day (LOD) $12.64 premarket and high of day (HOD) $18.86 intraday, closing at $17.54. After hours, it moved another $0.34, closing at $17.88. If there is another pullback, watch for the dip zone to be at $15.74-$16.97 levels. Short Interest is 9.11% of float. INDO needs to reclaim $20-$20.50 levels for a run back above $26-$30 levels. If crude oil is able to reclaim $120 levels, watch all oil plays for the move back up. Be careful swinging anything that’s been trading under $1 for greater than 30 days due to delisting/delinquency requirements or reverse splits.
Catalyst:
Crude Oil reversing upward, looking at breaking new highs this year
PIXY
PIXY hit high of day (HOD) $0.71 premarket and fading to low of day (LOD) $0.3796 intraday (which I alerted live on Twitter), closing at $0.44. If there is another pullback, watch for the dip zone to be at $0.40-$0.44 levels. SSR will be on for Tuesday 5/17/22. This is the time when buying all the big pullbacks will count. Short Interest is 4.07% of float. PIXY needs to reclaim $0.50-$0.55 levels for a run back above $0.60-$0.75 levels.
Catalyst:
“Special Distribution of Shares of Industrial Human Capital, Inc.” You may view the full press release here. Board of Directors (the “Board”) approved a special distribution to ShiftPixy shareholders in the form of shares of common stock of Industrial Human Capital, Inc. (NYSE: AXH), the special purpose acquisition company, or “SPAC”, in which ShiftPixy currently owns an approximate 15% ownership stake. All ShiftPixy shareholders of record as of May 17, 2022, will receive their pro rata share of AXH common stock equal in proportion to their percentage holdings of ShiftPixy common stock issued and outstanding
ASNS
ASNS hit high of day (HOD) $2.45 and low of day (LOD) $1.95 after hours, closing at $1.95. If there is another pullback, watch for the dip zone to be at $2.10-$2.25. SSR is on Tuesday, 5/17/22. It will need to reclaim $2.50 levels for a move back up into the $5+ range. This is an extremely volatile stock and tends to get halted up.
VRM
VRM hit low of day (LOD) $1.46 and high of day (HOD) $1.83 intraday, closing at $1.47. VRM seems to have found support at $1.46 levels. If there is another pullback, watch for the dip zone to be at $1.40-$1.46. VRM will need to reclaim $1.64 levels, then break above $1.80 for a run above $2+. If VRM breaks the wall down at $2+ this week, $3-$5 levels will come end of week. Based on 12 analysts, there is a high PT of $51, low PT of $2, and average PT of $8.71.
Catalyst:
“Vroom Exceeds Q1 Guidance Across All Key Financial Metrics; Vroom Announces Business Realignment Plan” View full press release here.
- 19,473 ecommerce units sold, up 26% versus prior year
- Ecommerce revenue of $675.4 million, up 60% versus prior year
- Ecommerce gross profit of $34.3 million, up 8% versus prior year
- Completed the first auto loan securitization transaction
Watch for investors to slowly start buying in to invest in the coming weeks.
AGRI
AGRI hit low of day (LOD) $1.76 premarket and high of day (HOD) $3.05 after hours. AGRI closed at $2.77. Short Interest is 0.46% of float. AGRI needs to reclaim $3.00 levels for a run back above $4-$5. Due to volatility surrounding multiple catalysts listed below, I’ll give 2 dip zones since the market could respond hard in either direction. If there is another pullback, watch for the 1st dip zone to be at $2.49-$2.59 levels. If it breaks that dip zone, watch for the 2nd dip zone to be at $2.24-$2.40.
Catalyst:
- Quarterly report pursuant to Section 13 or 15(d) (10-Q) is released here.
- “AgriFORCE Growing Systems Provides Update on Acquisition of Delphy, a Leading European Agriculture/Horticulture and AgTech Consulting Firm. View the full press release here.
- AgriFORCE is presenting at “Microcap Rodeo’s Spring into Action Best Ideas Virtual Conference on May 17th.” Management is scheduled to present on Tuesday, May 17, 2022 at 3:00 p.m. ET. The presentation will be webcast live and available for replay https://www.webcaster4.com/Webcast/Page/2882/45580. View the full press release here.
- Agriculture stocks are a very hot sector and Agriforce is one of the main leaders according to what’s trending across discords and most mentions.
DBGI
DBGI hit low of day (LOD) $0.22 intraday and high of day (HOD) $0.3191 after hours. DBGI closed at $0.2490. If there is another pullback, watch for the dip zone to be at $0.2475-$0.255 levels. Short Interest is 3.20% of float. Volume closed at 25,790,253 compared to its 10 day average volume of 6.45M. DBGI needs to reclaim $0.30 levels for a run back above $0.40-$0.50. If it holds higher lows, we can assess the next leg up towards the $1 range.
Catalyst:
“Digital Brands Group Reports First Quarter 2022 Financial Results” First quarter 2022 net revenue was $3.4 million versus $0.4 million a year ago, an increase of 740% year over year. Our gross profit margin increased 94% year over year to 42.9% from negative 50.8% a year ago, an increase of $1.7 million in gross profit dollars.” View the full press release here.
5/16/22 Setups Recap
I’ll be posting pre- and post- charts to see if our plan worked. I’ll show the percent changes from the dip zones so that you can see how there are plenty of gains to be made even in the small moves. It’s up to you when you take your profits. These will be used as archives so I can refer back to the chart year over year. This will also be used as learning tools to see where we went wrong so we can figure out the best way to maximize profits and manage risks. If none of these have moved yet, watch for the move to come in the coming weeks.
INDO
INDO hit low of day (LOD) $13.18 premarket and high of day (HOD) $14.27 intraday., closing at $13.80. If there is another pullback, watch for the dip zone to be at $13.29-$13.46 levels. Short Interest is 9.11% of float. INDO needs to reclaim $14.30 levels for a run back above $17-$22.50 levels. If crude oil is able to reclaim $120 levels, watch all oil plays for the move back up. Be careful swinging anything that’s been trading under $1 for greater than 30 days due to delisting/delinquency requirements.
INDO hit low of day (LOD) $12.64 premarket below my dip zone, but was able to reclaim the dip zone ($13.29-$13.46) $13.52 (✓) premarket and moved $5.34 (39.5%) to high of day (HOD) $18.86 intraday, closing at $17.54.
BBIG
BBIG hit high of day (HOD) $2.90 premarket, and low of day (LOD) $2.51, closing at $2.60. BBIG hit $2.90 after hours. If there is another pullback, watch for the dip zone to be at $2.50-$2.55 levels. Short Interest is 21.91% of float. BBIG needs to reclaim $3.00 levels for a run back above $3.50.
Catalyst:
May 18, 2022 (this Wednesday) being the set record date for the dividend of shares of common stock of Cryptyde, Inc. View press release here. There is confusion on when the last day is to buy in; 5/16 or 5/18. To save yourselves the stress, assume that date is tomorrow and hold. Plus, it’s better you get in before it’s back above $3-$4 anyway…
BBIG hit low of day (LOD) $2.47, $0.03 below my dip zone, but it was able to reclaim my dip zone twice: ($2.50-$2.55)(✓) intraday moving $0.36 (14.4%) to high of day (HOD) $2.86 intraday, closing at $2.72 and again after hours, moving $0.12 (4.8%) from $2.50 to $2.62. BBIG needs to reclaim $3 for a move back above $4 levels.
GME
GME hit low of day (LOD) at $93.80 premarket and high of day (HOD) $106.78 intraday. If there is another pullback, watch for the dip zone to be at $92.48-$96.10 levels. GME needs to reclaim $110 levels, consolidate, and then reclaim $125 levels for the next leg back up above $136-$150 levels. The last time we dropped below $80 levels on 3/15/22, we ran back up to $200 levels on 3/29/22; that was a 2 week swing. Short Interest is 22.01% of float. Based on analysts, there is a high PT of $90, low PT of $23, and average PT of $47.67.
GME was a swing setup from 05/13/22 at the dip zone ($95-$97), but it was only able to hit $99.18 premarket. It faded throughout the day into a low of day (LOD) $90.78.
VRM
VRM hit low of day (LOD) $1.40 premarket and high of day (HOD) $1.75 intraday, closing at $1.60. VRM seems to have found support at $1.55-1.59 levels, forming higher lows. If there is another pullback, watch for the dip zone to be at $1.48-$1.57. The next leg is to reclaim $1.75, then break above $2.00. If VRM breaks the wall down at $2+ this week, $3-$5 levels will come end of week. The momentum is from Vroom reporting better-than-expected Q1 EPS and sales results. Based on 12 analysts, there is a high PT of $51, low PT of $2, and average PT of $8.71.
VRM hit low of day (LOD) $1.46, just $02. below my dip zone ($1.48-$1.57), but it was able to reclaim the dip zone (✓) making a $0.35 (23.65%) move to high of day (HOD) $1.83 intraday.
SBFM
SBFM hit low of day (LOD) $1.95 intraday and high of day (HOD) $2.30 after hours. SBFM closed at $2.00. If there is another pullback, watch for the dip zone to be at $1.96-$2.07 levels. The most recent news shows “Sunshine Biopharma S-3 Shows Registration ~14.6M Share Common Stock Shelf Offering Via Selling Shareholders, Co. will not receive proceeds from Offering.” Short Interest is 3.94% of float. SBFM needs to reclaim $2.50 levels for a run back above $3.
SBFM hit low of day (LOD) at my dip zone ($1.96-$2.07) $1.96 (✓) premarket and moved $0.21 (10.71%) to high of day (HOD) $2.17 intraday, closing at $2.11.
AGRI
AGRI hit low of day (LOD) $1.44 premarket and high of day (HOD) $1.70 after hours. AGRI closed at $1.67. If there is another pullback, watch for the dip zone to be at $1.53-$1.60 levels. The most recent news from Investor Relations shows “AgriFORCE Growing Systems Provides Update on Acquisition of Delphy, a Leading European Agriculture/Horticulture and AgTech Consulting Firm. View the full press release here. Short Interest is 0.46% of float. AGRI needs to reclaim $2.00 levels for a run back above $3.
AGRI was $0.16 above my dip zone (1.53-$1.60), but I alerted live on Twitter for a move up in case some of was waiting for it to hit the dip zone. Sometimes, it may not hit the dip zone because price action and volume is giving it the momentum it needs for a bullish move up. If the reversal looks strong, I’ll scale into a full position. It was able to move $1.52 (99.53%) (✓) and hit high of day (HOD) $3.05 after hours. Due to food shortage, food inflation, and agriculture stocks getting bought up by investors, along with other catalysts; that’s the reason for all the momentum in this name.
CSCW
CSCW hit low of day (LOD) $0.1064 and high of day (HOD) $0.1359 intraday. CSCW closed at $0.13. If there is another pullback, watch for the dip zone to be at $0.12-$0.125 levels. Short Interest is 4.72% of float. CSCW needs to reclaim $0.1875 levels for a run back above $0.275, then the next leg up will be $0.50-$0.60 levels.
CSCW was a swing setup from Friday 5/13/22, I alerted at $0.1175 on Twitter. For those looking at buying in today, it hit $0.005 above my dip zone ($0.12-$0.125) $0.1255 premarket, and moved $0.022 (17.53%) to high of day (HOD) $0.1475. For those who swung from Friday, that was a $0.03 (25.53%) move.
GHSI
GHSI hit low of day (LOD) $0.15 premarket and high of day (HOD) $0.175 after hours. GHSI closed at $2.63. If there is another pullback, watch for the dip zone to be at $0.158-$0.162 levels. The momentum for Guardion Health Sciences is due to the company announcing “Financial Results for the Quarter Ended March 31, 2022 Viactiv® Generated Net Revenues of approximately $2.3 Million or 95% of Net Revenues for the Quarter Ended March 31, 2022.” You may view the full press release here. Short Interest is 10.23% of float. GHSI needs to reclaim $0.27 levels for a run back above $0.40. Once that level is reclaimed, we can focus on the move back to $0.60. Based on analysts, there is a PT of $0.60.
GHSI was a swing setup from Friday 05/13/22 when I alerted on Twitter. It hit $0.0041 above my dip zone ($0.158-$0.162) at $0.1661 premarket. It moved $0.024 (14.38%) and hit high of day (HOD) $0.19.
TNXP
TNXP hit low of day (LOD) $0.117 premarket and high of day (HOD) $0.138 after hours. TNXP closed at $0.1317. If there is another pullback, watch for the dip zone to be at $0.12-$0.128 levels. Short Interest is 8.45% of float. TNXP needs to reclaim $0.19 levels for a run back above $0.36. Once that level is reclaimed, we can focus on the bigger move back above $0.60. Based on analysts, there is a high PT of $3.00, low PT of $0.60, and average PT of $1.70.
I alerted last Friday to watch TNXP for a possible move in the coming weeks after they reported earnings. It hit my dip zone ($0.12-$0.128) at $0.126 premarket, but it was unable to make any significant moves during premarket, nor did it show any increase in volume. The reason for the drop is due to Tonix Pharmaceuticals Announced “1-for-32 Reverse Stock Split.” View press release here.
Others to Watch/Trending
- BBIG
- SNDL
- DTST
- MDVL
- VERU
- RDBX
- AMZN
- AMD
- TSLA
- FCEL
- PIK
- BOLT
- MULN
- GFAI
- NILE
Oil/Gas Stocks to Watch for a Reversal
If trading oil, make sure you’re monitoring crude oil prices. Only load up on red days. If you chase the day it runs, you’re already too late. Your chances of losing money is much higher since it’s more volatile. Unless you’re a strong day trader, I would not try scalping an oil play. There are better setups elsewhere.
- INDO – 9.11% SI
- HUSA – 6.32% SI
- ENSV – 3.43% SI
- CEI – 9.59% SI
- USWS – 11.58% SI
- MXC – 4.74% SI
- MARPS – 3.20% SI
- IMPP – unknown SI
Earnings
5/17/22
- WMT
- HD
- JD
- ALLT
- PTN
- DOCS
- AGYS
- QUIK
- NXGN
- QTEK
5/18/22
- TGT
- ZIM
- LOW
- TJX
- ADI
- CSCO
- SNPS
- BBWI
- CPRT
- SQM
5/19/22
- KSS
- GOGL
- EXP
- MNRO
- CAE
- AMAT
- ROST
- PANW
- FLO
- GLOB
5/20/22
- FL
- BKE
- RLX
- ATEX
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-Cheers
Disclaimer : This should not be considered investment advice, and should not be used to make investment decisions. Do not buy or sell any stock without conducting your own due diligence. Information on eyelovegains.com is opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts and data provided here are not meant for investment purposes and only serve as examples. We are not liable for any losses you may endure from the buying and selling of stocks or securities within your accounts.
