We didn’t have to wait any time at all for that bounce to occur, with the stock posting a heck of an intraday performance. From a low of 8.29, UNIT surged its way up to a daily high of 11.5. That marks a very solid first-day performance for this play amounting to a gain of 37% We will continue to track the stock for further gains as the week the progresses.
General Electric Co. GE
We also wanted to recap the recent performance of GE. We mentioned this play shortly after the new year on January 8th, and observed a low of 8.18 the following day. Since then,we’ve seen fairly steady growth out of the stock, as it has run from that low up to a new high of 11.75 yesterday.
That represents an overall increase of 47% in roughly 7 weeks’ time. GE also just cracked its 200DMA yesterday, with the RSI about to head into the power zone, so we’ll want to continue our monitoring of its activity in coming sessions as well.
FTE Networks, Inc. FTNW
After being in a general downtrend since June, we’re seeing some sparks of life from FTNW, which is roaring up off of its 52-week lows as a result of announcing over $115M in new contracts. We are going to place this on our radar and strap in for what could be an impressive push off of its bottom.
Up considerably in the premarket, there are resistance areas roughly around $4, $6 and $10, and FTNW has the potential to crack some or all of those levels with the surge off of this latest news.
Fresh Options Ideas:
Etsy, Inc. ETSY 03/15 $60-65 Calls
The Home Depot, Inc. HD Weekly $185-180 Puts
AYX, VSI, WP, SKYS, THC, SOLO, WIN(Bottom-Watch)