Potential Momentum Plays
Clean Coal Technologies, Inc. CCTC – In a characteristic move, CCTC repeated the history of its own chart, as a stock that seemingly likes to make volatile swings to the upside. It breached its 50DMA in a bullish manner yesterday, so we are going to tag it for observation today in the event of continued momentum.
The chart is showing a series of ripening indicators as well. In order to hold our attention, CCTC will need to maintain support at or above that 50DMA, currently at .153 on any pullbacks.
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Eleven BioTherapeutics, Inc. EBIO – EBIO is a stock we’ve come back to on several occasions in the past, and today, we want to circle around to point out its current status as a bottom-bouncing momentum play.
It hit four-month lows just five sessions ago, and has made a decent effort at a rebound since then, so we’ll keep it on watch for the possibility of further recovery.
Options Ideas
We’ve got a couple of earnings-related options ideas this morning as well. As our regular readers are surely aware, post-earnings options trading is one of our favorite and most reliable ways of rooting out rapid short term gain opportunities.
Shake Shack, Inc. SHAK – Weekly $35.50-37 Calls
Macy’s, Inc. M – Weekly $38-41 Calls
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Reminder: We’re also still tracking our idea on Starbucks from last Friday, the SBUX Weekly $53.50-55 Calls. The stock has traded up to nearly $55 in the premarket today, so we’ll be open to the possibility of seeing our gains extended there.
Extended Watchlist:
PXYN, LGBI, PARS, IFAN, CAFS, NNLX, KBS, FCEL