New Bottom Plays
While we are in a bit of a drought in terms of big name earnings reports, as tends to happen around a holiday. We’re back for a full, fresh trading week and we thought we’d shift our focus to bottom plays as we kick things off.
Taronis Technologies, Inc. TRNX
TRNX is in precisely the sort of position in which we look for bottom-bounce candidates. The stock saw new lows last week before making its reversal, and stringing together three consecutive positive sessions.
We can also see on the RSI that TRNX is just now coming off of being extremely oversold and the volatility potential suggests that even a 100% move from current pricing would not be out of the realm of possibility. We’ll be keeping an eye peeled here in the days and weeks ahead.
Rockwell Medical Technologies, Inc. RMTI
RMTI is another possible bottom play with some decent potential and a gap to fill the 200DMA currently sitting at 4.11. Perhaps the upside potential here is not quite of the magnitude of the previously mentioned play, but the indicators may be more ripe in this case.
The MACD is on the precipice of a bullish cross, and the RSI is slowly attempting to come off of being oversold. This may also be a good candidate for a more sustained recovery over the next several sessions.
TBRG, LPTX, GROW, NAKD, DPW, ITCI