Potential Momentum Plays
Clean Coal Technologies, Inc. CCTC – In a characteristic move, CCTC repeated the history of its own chart, as a stock that seemingly likes to make volatile swings to the upside. It breached its 50DMA in a bullish manner yesterday, so we are going to tag it for observation today in the event of continued momentum.
The chart is showing a series of ripening indicators as well. In order to hold our attention, CCTC will need to maintain support at or above that 50DMA, currently at .153 on any pullbacks.
Eleven BioTherapeutics, Inc. EBIO – EBIO is a stock we’ve come back to on several occasions in the past, and today, we want to circle around to point out its current status as a bottom-bouncing momentum play.
It hit four-month lows just five sessions ago, and has made a decent effort at a rebound since then, so we’ll keep it on watch for the possibility of further recovery.
We’ve got a couple of earnings-related options ideas this morning as well. As our regular readers are surely aware, post-earnings options trading is one of our favorite and most reliable ways of rooting out rapid short term gain opportunities.
Shake Shack, Inc. SHAK – Weekly $35.50-37 Calls
Macy’s, Inc. M – Weekly $38-41 Calls
Reminder: We’re also still tracking our idea on Starbucks from last Friday, the SBUX Weekly $53.50-55 Calls. The stock has traded up to nearly $55 in the premarket today, so we’ll be open to the possibility of seeing our gains extended there.
PXYN, LGBI, PARS, IFAN, CAFS, NNLX, KBS, FCEL