Each of the following stocks brought us large gains earlier this year, and have all been in recent consolidation patterns. They began to exhibit signs of a turnaround on Wednesday. We want to have them all fresh in our minds in coming sessions as we scan for potential bounce-play opportunities that present themselves.
Kandi Technologies Group, Inc. KNDI
We mentioned last Friday that we would be monitoring KNDI for a bottom this week, and began to witness it yesterday as the stock came down to hit 14.79 before snapping all the way back to 16.30, a 10% intraday move. We’ll be on the lookout for signs of continued recovery.
Petroleo Brasiliero S.A. (Petrobras) PBR
PBR appeared to find its low at 17.06 yesterday, and began to rebound into the close at 17.38. As our readers already know, it’s the PBR options chain that has provided us with the most opportunities this year, so once we get a good indication that the bounceback will be sustained, we’ll get a better gauge of the most interesting contracts.
Others to Watch
We’ve got another pair of plays that carry some potential as we head into week’s end, ones that have yet to appear in our reports prior to today.
Wet Seal, Inc. WTSL
WTSL was a hit on a routine scan today; the stock is gapping up this morning. We’ve noticed a large gap to fill on the chart between .90 and 1.00, and trades are presently going off in the pre-market at .73, up over 7% already. The filling of that gap and returning to 1.00+ would mean sginificant gains from here so we’ll be watching this one closely.
Natural Health Trends Corp. NHTC
Yesterday we took notice of NHTC hitting its own low point on Tuesday, and the stock did actually see a significant bottom bounce to more than $17 before pulling back into the close to fall below $13. We’ll want to keep an eye peeled to see if we can use some of that volatility to our advantage.
Lululemon Athletica, Inc. LULU Calls
LULU is gapping up on an earnings beat this morning, so we’ll be looking for profit-taking to create a potential dip-and-rip scenario that could lead us to opportunities in the $41-$43 Calls.
SCOK, OTIV, AKS