August 20, 2018
( ) (1) An explosive breakout followed by a picture perfect pullback (2) on light volume. (3) It's important to note that price is extended from its moving averages and Sprint has some longer-term resistance ahead in the $6.25-$6.50 area.
( ) After finally breaking through the upper channel line on July 23rd, AKS has come crashing down with the rest of the steel stocks. Disappointing earnings and uncertain outcomes over tariffs have taken their toll. Now AKS finds itself testing the support zone at the bottom of this 4-month channel.
( ) On this daily chart, you can see that GSAT has been in a downtrend for over a year. During that time the stock has failed to trade above its 50ma, until two weeks ago. Now the 20ma is close to crossing back over the 50ma for the first time since July 2017.
( ) On Friday, price rebounded after a 6-day pullback ending the day with an 8% gain. (2) This stock has great structure, pulling back to price consolidation levels during this uptrend that started back in June. The only negative on this chart is the high volume gap down this past Wednesday after earnings were released. Other than that volume patterns are perfect.
( ) has been pulling back this past week after dropping out of a pennant pattern. Friday the stock rebounded for a 15% gain after finding support @ $0.49. Volume was noticeably light with only 3.8 million shares traded. CRMD is reporting earnings on Tuesday, August 14, 2018.
( ) was up 45% on earnings today. This comes just two weeks after a wild 800% move. The stock was up over 130%, hitting a high of $6.79 just before 10:00 am.
( ) AKER bounced this past week after dropping to new 6 month lows. Fridays high of $0.29 puts it very close to price level resistance @$0.31. The 20 ma has also been difficult for the stock to get through in recent months. AKER reports earnings on Monday, August 13th.
( ) Rite Aid was down on heavy volume this past week after a merger deal with Albertsons failed to materialize. Friday RAD closed @ $1.48, just shy of its March 23rd low of $1.46. Next support comes in @ $1.38 which is the all-time low for the stock.