Today’s scan provided us with quite a few trading ideas. Mostly are shorts followed by one bounce play worth watching like a hawk. If you have any questions or comments feel free to leave them below.

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MVIS

Microvision is approaching two points of resistance. The first is the 200 day moving average at $3.91 and the second is the phycological break of $4.00 which also happens to be over a 100% return from the lows. This is my favorite potential short out of the charts posted. This should correct back towards the $3.00 range before it makes any higher highs.

ABMC
Vista Partners gave this stock a price target of $3.20 last week. Sure, maybe over time the speculation will pay off and reward them with the 300% gains they’re looking for, but today it’s approaching some very tough resistance. There are two potential plays here: It broke the 200 day moving average which is normal a very bullish sign, if it can break the double top resistance at $1.00 this could turn into a multi day runner. I would not go long on this stock but I will monitor the activity around $1.00, if it breaks watch for the squeeze towards $1.20. Bottom line - This stock has a better chance of hitting .70 to .80 in the next few days than it does hitting $1.20.

BIDZ
Bidz.com is approaching the 200 day moving average at $9.96. It seems like it’s trying to channel between $7 and $10. This move looks a bit overextended and the short side is beginning to look more and more appealing. Give it one or two more days for a potential squeeze before quickly heading back towards the $8 mark and lower.

IOMI
Lot’s of news lately. This is above all resistance but needs a chance to cool off. I’d give it another day or two at max allowing it to take a breather before any more upside. This has gaps to fill all the way down past $2.00.
 

EBS
Emergent BioSolutions nearing 100% gains since late December. Above all resistance levels and forming a golden cross (where the 50 and 200 day moving averages cross). $10 is going to be tough resistance, watch for any breakout to short on.

SMSI
Smith Micro Software - talk about a choppy chart. I’d pay attention to how this trades below, at, and around $8.00, this is a key level. This can very easily squeeze to $8.50 before taking a dip I’m looking for, but if it fails to break past Wednesday’s high of 8.09, than I’m looking for a cover in the mid $7 dollar range.
 

GNVC
Another stunningly strong and bullish stock. Today was the first real day of selling pressure but still managed gap open, sell off and close the gap and trend back up to close within two pennies of the open. The only worthy play here is if it doesn’t break $2.20. This will head back to the $1.80’s very quickly once support is pulled, 120% gains since the beginning of March. If it does break $2.20 however, sit on your hands and watch for the next sign of weakness.
 

MNKD - Bounce Play
MannKind had a few rewarding bounces today but any gap down tomorrow is worth the watch for the bounce. It formed some strong support at $2.30 today