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Chart of Day: Celgene could Refill Gap at $120

Dec 12, 2017

After gapping from $120 to less than $100 a share, CELG is showing signs of life at the lows. We strongly believe it could refill that bearish gap at $120, and perhaps even $135, near-term. We’re recommending that you buy to open the CELG January 19, 2018 110 calls at current market prices today.  The stock is still moving higher after posting positive study data on a co-developed CAR-T drug designed to treat patients with advanced multiple myeloma -- with 94% of patients responding to the treatment, and over half remaining in complete remission. Even better, insiders are buying, too. Between October 25 and December 4, 2017, insiders bought a total of 84,870 shares.

 

Chart of Day: Round II with AT&T

Dec 11, 2017

On November 13, 2017, we recommended buying to open the AT&T (T) February 2018 34 calls, which traded at just $1.50 simply because it was one of the most hated stocks on the Street. By December 4, 2017, we recommended selling to close half of the trade at $3.70 for a 147% win.

Right now, the call option is at $3, handing us a 100% win on the second half.

Instead of jumping out here, we’re holding and recommending even more calls. In fact, after a recent pullback from $37.35 to $36, the stock found support (marked by a long legged doji cross) and could move higher from this point. We believe that if the stock can break above its 200-day moving average, we could see a potential test of $38.50, near-term.

To potentially profit from this, buy to open the AT&T (T) February 16, 2018 36 calls at current market prices.

Chart of Day: Two Stocks to Own for 2018

Dec 07, 2017

Solaredge Technologies Inc. (Nasdaq:SEDG) -- We like this stock like the stock a great deal on the latest pullback, especially after its revenue jumped 22% from a year ago to $166.6 million. Gross margins hit 34.9%, and net income came in at $31.5 million, or $0.61 per share. Technically, it’s been tough to argue against the stock’s powerful uptrend since February 2017. On the latest pullback to support at $34.55 just above its 50-day moving average, we’re bullish for a second time. What we’d like to see is a near-term test of $40 a share. Buy at market prices.

Micron Technology (MU:NASDAQ) -- After falling with the tech sector, shares of MU appear to have caught support just under the 50-day moving average at $40 a share. What we’d like to see is s potential move back to $48, near-term. Even better, the stock appears inexpensive, trading at just 0.28x PEG. We’re also not the only ones that like the stock at current prices. In fact, analysts at Morgan Stanley believe the latest pullback – sparked by fears of falling NAND memory prices – is irrational, as NAND memory only impacts a portion of MU’s overall business.  The analysts believe the stock could move to $55 a share. Analysts at MKM Partners also note, per Barron’s, that, “Micron Technology (MU, Buy, $52 PT, $41.99) is a name we like getting long on recent weakness. The stock dropped 15.5% from its high last Friday primarily on concerns about NAND pricing.  But MU still has more exposure to DRAM (63% of sales) than NAND (33% of sales) and has room to be more cost competitive in NAND, in our view.” MU is also a buy at current market prices.

Both stocks are a buy at market prices.  We'd like to see big moves in each.

Chart of Day: Home Depot Overbought, Ready to Drop

Dec 05, 2017

In early November 2017, shares of Home Depot (HD) became a strong buy on anticipation of the Donald Trump plan. That’s because right now 87% of its stories are in the U.S., and get hit with a tax rate of 36.3%. In short, it was getting hosed on taxes. But if the tax rate were to drop to 20% for the company, it could see millions added to its bottom line.

That’s why share of the home retailer ran from a November 2017 low of $162.50 to $185.

However, now that most of the news is priced in, we’re looking for a healthy amount of profit taking at the highs. We can now see that the stock is overbought on RSI, MACD and Williams’ %R. We’d like to see a near-term pullback to at least $172.50.  We can take advantage of this potential move lower by buying to open the HD January 19, 2018 180 put at current market prices.

Chart of Day: Disney Returned as Much as 294% in a Week

Dec 04, 2017

On November 28, 2017, we recommended buying the DIS January 2018 105 calls, which traded at $1.55. It’s now up to $6.10 for a return of 294%. It hit a high of $8.25 earlier for a return of up to 432%.

On November 13, 2017, we also recommended buying the AT&T February 2018 34 calls, which traded at $1.50. It’s now up to $3.70 for 147%.

Sell to close half of the DIS and T calls today to secure the wins.

Congratulations on the profits.

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