Open’s Interest… Tue May 20 2014

By Rod David | May 20, 2014 - 12:06 am

Welcome to Open”s Interest for Tuesday

(No video today… Setups and parameters are below…)

Did Monday offer a glimpse of pent-up demand for a seemingly solid MJ development? FRTD announced an LOI to be acquired by a bidder wishing to remain anonymous. You don”t see that very often — either the request, or the LOI. Most companies don”t wave those about. Legitimate? Okay. It did prompt the stock to triple. Advertising that reaction could help to attract investors back into the sector.

QUICK LINKS:
This week”s Universe || Last Open”s Interest || Non-MJ Requests

Enjoy!

Breakout (consolidations or basing that is forming
an accumulative pattern )

none

Pullback Limit
(breakouts and bounces that have retraced 61.8%…
these situations are often make, or break)

MWIP no pullback || .365 resistance || .315 stop || .495 target
Running out of time to rally out of this “handle,” if that what it is.

TWMJF 2.45 pullback || 2.65 resistance || 2.40 stop || 3.25 target
Wednesday”s key-reversal is being corrected by a dip.

Bottom Fish
(basing after extended decline — not really a “trade”)
(breakdown unconfirmed a 2nd day — only buy strength)

none

Third-day Surge
(2-day surge to fresh highs at risk of peaking — don”t chase higher)

none

Not a Charm
(third test of retested low — lower lows coming?)

(- MDBX ) 17.75 support || 20.25 bounce || 17.50 stop || 12.25 target
Extended its drop after Motley Fool article.

Falling Knife
(trying to catch the reaction to a steep drop — ouch)

INSY 22.25 pullback || 25.80 resistance || 24.25 stop || 29.40 target
Extended its reaction up from the decline”s 22 target

MCIG .375 pullback || .45 resistance|| .375 stop || .57 target
Bought Thursday, raised stop after Friday.

TAUG .032 pullback || .042 resistance || .029 stop || .055 target
Still testing its pullback range, won”t wait much longer.

TRTC .43 pullback || .48 resistance || .39 stop || .64 target
Bought at Monday”s close in anticipation of follow-through Tuesday.

Rocket Launch (sudden explosive interest that gains traction)

none

Monitoring
(observations of other stocks of interest)
GWPH covered short… difficult to justify long-entry.

VAPE fresh low testing 2.00 would qualify for “bottom-fishing.”.

Open”s Interest is the daily pre-open reference for marijuana stock patterns currently of interest, including other insights and overviews.

Posted in Bigger Picture