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In putting MNKD on bottom-watch in Friday’s Report, we gave folks the chance to catch this play at a subsequent low of 3.85 on Monday.
We were then hit with the news concerning recommendation from an FDA advisory panel to green-light one of the company’s drugs, after hours on Monday which led to a significant gap-up yesterday.
It appears as if the stock will gap up for the second consecutive session today. In pre-market trading thus far, MNKD has pushed into the 7.30’s. From the low we saw just a couple of days ago to this morning’s high (7.33), represents an overall increase of 90%
Angie’s List, Inc. ANGI
Speaking of recovery plays, ANGI is coming off of a recent bottom, and the resurgence of the share price is opening up some avenues of opportunity with regard to the options chain.
Currently on our radar are the 05/17 $15 Calls, which closed at .65 yesterday, and the 04/19 $12.50 Calls, which last traded at 1.03.
A quick look at the 6-month ANGI chart reveals a stock with the ability to make big swings. We can see that from December through January it ran from the $12-range to the $19-range with ferocity. It would appear as if we are catching it at the beginning of another swing. The RSI is rising sharply, and we’ve got a confirmed uptrend off of that bottom with higher lows and higher highs having been achieved over the past three sessions.
The potential for gains, not only with the options, but also on the stock side of things, is something that we’ll be looking for as we track ANGI during its recovery.
Extended Watchlist:
GLGT, TFER, AMRS, RGDX, ANTH,