Celadon Group Inc. CGI
Our first order of business this morning is to swing back around for a stock that we signaled our interest in back in May, which has subsequently gone on to put together a fantastic run up the chart.
When we tagged CGI on May 9th, the stock had recently fallen off of a cliff, and was attempting to recover off of its newly established lows. We observed a low PPS of 1.90 just a couple of sessions later, and that preceded one heck of a recovery. Yesterday, CGI streaked to new highs, coming up as the #4 top gainer on the NASDAQ, and reaching 5.15. That works out to a total increase of 171%
Having now recovered all of the ground it lost in early May, the chart still appears strong, and the next key resistance point we’ll look to see CGI make a run at is the current 200DMA of 5.95.
Options Ideas
We mentioned in the previous report that there would be a growing number of possible options trading opportunities as we neared the end of the week. This morning we’re looking at Facebook, Inc. FB, which reported yesterday post-market, and Anheuser-Busch InBev SA/NV (BUD), reporting this morning.
Each of them had beats, and are gapping up in the premarket. We’ll be monitoring the FB Weekly $172.50-180 Calls and the
BUD Weekly $120 & 125 Calls.
InfoSonics Corp. IFON
We also want to quickly recap the solid performance of IFON, which we tagged yesterday morning as a possible bottom bounce play, after seeing it test it 50 and 200DMA’s the previous day. The stock responded with another nice move from .562 to .84, an intraday push of 49% on big time volume.
We’ll look for the establishment of higher lows and higher highs and for the stock to maintain its multi-day runner status, and for a break of resistance in the channel between yesterday’s swing high and a swing high back in April at 1.04.
Extended Watchlist:
OTTV, ABHI, SHOR, IDXG, CAPR, TOO, AXTI, TROV