We thought some of Wednesday’s momentum in RSH could spill over into the day’s session, and said as much in our morning report yesterday, and the stock did not disappoint.
RSH continued its resurgence, beginning the session at just a hair under a dollar and barreling its way up to a subsequent high of 1.60. That’s an intraday run that afforded traders a shot at up to a 60% profit. In closing at 1.43, RSH held a majority of its gains on more than 10x the 1-month average volume.
RSH has now made notable gains in each of the last three trading sessions.
We alerted this stock prior to the the .55 annual low reached earlier this month, and from that level yesterday’s peak pricing represented an overall increase of 190%
SGOGO Group Ltd. SGOC
A tag of SGOC in yesterday’s extended watchlist would turn up an excellent opportunity as the stock proceeded to run rapidly in the first half hour of trading, from a low of 2.07 to a high of 3.22 shortly after 10am.
That spike was good for gains in excess of 55%- later in the day there was a 16% swing from 2.56-2.98. Closing at 2.84, SGOC is another one that had a nice move, and maintained more than half of its daily gain.
Drone Aviation Holding Corp. DRNE
DRNE is a stock we’re going to be monitoring into next week; currently it’s consolidating off of a nice 46% move (.89-1.30) we witnessed from last Friday to this Monday.
We’re going to be looking for DRNE to hold support at or above the current 50DMA of .78, and will have our eyes peeled for any chances that might present themselves with a potential rebound.
Extended Watchlist:
OTIV, AEZS, XXII, RALY, NFEC
In closing we’d like to wish everyone an enjoyable long weekend for the Labor Day holiday, and we’ll see everyone bright and early on Tuesday morning to kick off what promises to be an exciting short week!