Recap: May 19 Breakout Stocks for Tuesday the 20th
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FPP was able to hold all gains on the gap and crushed shorts towards $6. Keep in mind this was $2 dollars just a few days ago… It’s up after hours it may squeeze more and then I’d look for a correction. BUT as we’ve seen in the past few days with MXC and PDO… ANYTHING is possible.
CBRX - Volume picking up and it snapped the $3.50 with ease. Watch for this to test $4 in the next day or two, it may want to come back and consolidate around the $3.25 to $3.50 level but this is probably going to be the new base for a powerful move higher.
PEIX provided a great trade as expected both long out of the open and short through the day. Nearly doubling the volume this thing is going to be in play for many more days.
NOVN behaved perfectly, it wasn’t able to create more highs, and tested back towards the $12.50 level actually taking it out and hitting a low of $12.34.
SYNM hanging in there lot of shares exchanged hands today, I’d watch for the consolidation around around $2.30-2.50 before jumping in for a move higher, let it consolidate and confirm a trend, but I wouldn’t recommend a short.
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