Cumulus Media, Inc. CMLS
We’re looking at CMLS as a possible momentum play. The stock has been building up quite a head of steam over the past few sessions, trading an inordinately high amount of volume yesterday.
Since hitting its lows toward the end of last month the stock has been in a general uptrend. Every time it has receded, it has rebounded back to set new highs. We’ll place CMLS on watch to see if it can maintain the powerful trend it has established.
CMLS is gapping up in the premarket this morning. On any pullbacks, we’ll want to see CMLS maintain support at a minimum of .50 in order to maintain our immediate interest.
BlackBerry Ltd. BBRY
Normally, when we alert on a big board play without including some type of options idea, as we did with BBRY back on March 31st (and April 12th), it’s because we feel the stock itself is generally undervalued. Where BlackBerry is concerned, we have thus far turned out to be right on the money. We saw a low of 7.47 on the morning of March 31st, and BBRY hasn’t looked back since.
In its largest single session move of the year, the stock hit 11.38 yesterday. That represents an increase of 52% over our observed low, as we’ve pointed out on the chart below. .
FerroGlobe PLC (GSM) – Along the same lines, we highlighted GSM yesterday, a stock which is priced similarly to BBRY. It managed a slight increase after gapping up, and we’re going to continue watching this one as well.
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