Freedom Watchlist 3/28/16

 

 

Watchlist 3/28/16

Big picture

SPY - $203.12 - Market gapped down to the 200MA Thursday at $201.75 and bounced traded up all day from that level.  With the FED off the table for a little while and the market pushing up against a lot of old resistance I expect a choppy sideways range this week.  In the short term we have resistance at $203.50 and $204.  Major resistance $205 - $205.25.

2nd day plays

ACN - $114.30 - Support $113.75 bigger support $113.20.  Resistance $114.50 previous day high.  Closed .20 cents from HOD after 6% move on twice avg daily volume.  Closed at 52 week high. Reported earnings and raised full year revenue last Thursday.  (Market closed Friday)

PTLA - $20.27 - stock closed at multi year low as it reported disappointing phase III drug results.  Volume 14x average daily volume.

Technical plays

AMZN - $582.95 - Primed for a base breakout above $583.  Key support on 15min chart is $581.  Key daily support is $570 which represents the top of the last move and the 20MA.  If we break above $583 a move to 607.61 the 100MA is possible.  I will open this as a day trade however if we close near high of day tomorrow I will hang onto some for a swing.
TSLA - $227.75 - Sitting right on 200MA at $227.67.  Support $226.50 and $224.50 follow by major support in the $215 area.  Resistance is $232 and $235 followed by major resistance at $240.

ANAC - $59.71 - Swing long possible after FDA approved new drug. Stock has been beaten down and could have upside to $70.  60 is pretty strong resistance.

MDVN - $42.57 - Swing long broke above support on twice daily volume as it  moved forward to phase III of prostate cancer drug.

JCP - $10.91 - Swing long if we can trade down to around 10.  Been very strong stock and this is huge area.

NUGT - $54.61 - Tapped support level at $51.50 however volume was really weak.  Looks as though sellers are in controls and will offer great short below $51.50.  Keeping an eye on this level.

TSO - $92.49 - Parabolic short could be in play where the 100MA and 200MA both sit at $96.40.  Would love to see gap into this level.