Bigger Picture

Good morning! Interesting pre-open action in Ebola stocks with TKMR seeming to lead the way, and GWPH also higher. One is still under resistance but recently attacked support, and the other just recovered resistance yesterday. But both have one thing in common — news items. This could be that kind of day, which no longer bottomfishes beat-down stocks from the recent decline, but now rewards positive developments.

We”ll look at these, and other recent coverage — along with several new stocks and parameters — in this morning”s Livestock at 10:45 ET. I”ll post access instructions then.

Enjoy!

Several opening observations:

STEV — Open”s surge tested resistance that must still be recovered to test the ultimate .10 buy signal.
GWPH — Opening strength is probing above the 68.70 bounce limit that must be recovered through the close to signal the decline has ended. This is otherwise only a corrective bounce.
MCIG — Currently reacting down from attacking .27, further suggesting the .18-..19 pullback limit has held.
TRTC — Fresh high testing .36 after closing yesterday above .32 sealed a bottomRallying 50% so quickly from the decline”s .24 target does create potential for at least a pullback, needing to hold .32-.34 to maintain the rally”s momentum.

Monday morning”s Livestock covered the following stocks in the following order (click here for an alternative recording in WAV):

NLNK, Testing 35.15 target, so new pullback limit is 32.68 to maintain upward momentum next trageting 40-41.50.
TRTC, Up 33% in 2 days since touching its .24 pullback target, but must close above .32 to seal a bottom.
NVLX, RSI diverging negatively on test of .255 resistance.
GWPH, 58.11 works as a low, but price action since its touch hasn”t been accumulative, so back above 68.70 would only end the decline and not necessarily reverse momentum up.
INSY, Above 40.50 would target 45.70 and potentially 54.15.
ATTBF, Still more time hovering optimistically above the low, making a new low increasingly likely.
MCIG, Delay in reacting up from .18-.19 is a concern despite holding through the close, so no bottom-fishing.
SPRWF, .39 pullback limit must hold for a close above .45 to target .52.
TKMR, Fresh low probing the 21.50 pullback limit, with the nearest buy signal still 24.50.
VAPE, Fresh low probing under .905, very dangerous to close under it, especially if not recovered back above .97 immediately tomorrow.
IBIO, Pullback limit at 2.57 being tested intraday considerably, an must close above 2.75 to signal its test was absorbed.
NFLX, Third day of testing the bullish pullback limit noted during Wednesday afternoon”s earning reaction.

Livestock starts at 10:45 ET. Login info:
(iPads and Tablets use the accompanying teleconference info to get audio.)

https://roddavid10.mitel-nhwc.com/join/pcxsrhm

optional teleconference instructions (required for iPad and tablets):
1-605-562-0020
Meeting ID 976-912-682 #

Today”s Livestock is at 10:45 ET, and I”ll send a reminder with links. Have your stocks ready to request an instant chart analysis. Meanwhile, following are summaries from Friday”s Livestock:

NLNK, Met target, pullback must hold 26.90-28.80 to maintain potential to higher targets.
LAKE, The rally”s momentum requires hold pullbacks to hold 17.72.
TKMR, Nothing bullish without recovering 24.50, but would prefer 21.50 to hold meanwhile as support.
MCIG, “V” bottom depends on holding above .18-.19, and preferably also extending higher without delay since it was already tested.
INSY, Volume patterns continue to be among the most impressive. Breakout would be triggered above 39.50-39.60.
SPRWF, Confirmed breakout above .42 is targeting .52.
VAPE, Under .905 would target .60, and above 1.27 would target 1.73.
STEV, Rally could be triggered as early as recovering .0965.
GWPH, Discussed volume and bounce limit at 68.72.
TRTC, Closing above .26 and .32 is needed to seal a bottom.
ATTBF, Targeting new lows unless .295/.31 is recovered.
CLR, Gap fill at 54-56.
MBLY, Bullish above 52.80.
DNR, Potential to 11.55 and 13.60.
GSK, 41.75 works as a bottom, but a reversal must be signaled back above 44.60.
BITA, Resistance at 77 and 80.
SLCA, Pullback has room to 42, and under 40 would be bearish.
GLNG, 48.39 pullback limit, 46.90 stop.
PCLN, n/a
NXPI, n/a
AMBA, Holding 32 support would allow the rally to resume to new highs.
GLUU, n/a
NFLX, Thursday”s earnings reaction held critical support that could launch a recovery.
TSLA, Limited opportunity to avoid reversing the trend down.
GOOGL, Above 560 would reverse the recent trend back up.