Morning Watchlist


The Morning Watchlist is updated daily at 8:45am EST! Are you using the Morning Watchlist? Share your trades on twitter by mentioning @mtm_trader!

Friday, September 18, 2020

GAP UP:

$PIC: “Electric vehicle tech provider XL Fleet to merge with SPAC Pivotal Investment in deal valued at about $1 billion”

Support: 12.00, 11.50

Resistance: 13.00, 13.50

Outstanding Shares: 28.8 million

$IMMP: “Immutep Announces Improving Results from Stage I of Phase II TACTI-002 Study”

Support: 1.70

Resistance: 2.15

Outstanding Shares: 48.8 million

$CLRO: “Clearone Inc $CLRO Major Shareholder Edward D. Bagley Acquires 802,408 Shares of Stock”

Support: 2.70, 2.50

Resistance: 3.10, 3.50

Outstanding Shares: 16.7 million

Others: $SAVA $PSV $PLAY


GAP DOWN:

$ADMP: “Adamis Pharmaceuticals Announces Proposed Public Offering of Common Stock”

Support: 0.65, 0.58

Resistance: 0.74

Outstanding Shares: 74.9 million

$CKPT: “Checkpoint Therapeutics Announces $20.0 Million Bought Deal Offering at $2.80 Per Share”

Support: 2.90

Resistance: 3.25, 3.50

Outstanding Shares: 60.0 million

Others: $OAS $BYND


PREVIOUS DAY MOVERS:

$ENSV $CRDF $MLHR $EBON $JE


How to Use the Morning Watchlist

Gaps in either direction present great day trade opportunities and usually have strong relative volume, increased volatility, and recent news/press releases! There are tons of different gap trading strategies, some of which allow you to profit from them going up from buying and selling and others that allow you to profit from them going down from short-selling and covering.

Example 1: Some stocks will gap up and continue running throughout the day… known as a “gap and go.” These make great buy opportunities. Not all gap ups will gap and go, but you can use both fundamental and technical analysis to find ones with the highest probability of doing so.

Example 2: Other gap ups will come straight back down at the open. These are usually stocks with poor fundamentals and a history or dilution/offerings. If you have an account with a broker that allows short-selling, these often make great short opportunities that allow you to profit from them coming back down after they gap up.

Example 3: A lot gap downs will become very oversold and end up bouncing back up a bit after the market opens. Depending on the news and the individual company, gap downs can offer a great opportunity to get shares at a discount before a bounce.

If nothing else, the morning watchlist should save you some time and effort from having to scan the market and research recent news!


Watchlists are more effective when you have a proper strategy to trade them! Check out the courses below to learn all the basics + proven trading strategies!

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