At this point, ACYD has burst into the stratosphere, making entry from these levels extremely risky, if not inadvisable. We are not in the business of chasing extreme runners like this one, so what we’re going to do is monitor this play for a pullback and subsequent bounce.
It wouldn’t be the first time we’ve reaped profits from a stock in the same situation, if you recall BRND as an example. Over the summer, we timed the pullback after a series of tweets by Dennis Rodman caused the stock to spike violently over a very short period. On the heels of a gain in excess of more than 700%, that play afforded us a chance at over 80% on the dip-and-rip from .0077-.014.
Propell Technologies Group, Inc. PROP
Another extended watchlist play, yesterday we placed PROP on watch after noticing it had broken its 50DMA in recent sessions. It turned in a solid intraday performance to the tune of 20%, having traded as low as .44 before hitting a high of .527, and closing strong at .52.
The next key resistance resides at .56, coinciding with the current 200DMA. Just a heads-up: Failure to breach that hurdle at .56 would likely give way to a pullback.
Extended Watchlist: