MyDx, Inc. MYDX
Trading in general was greatly subdued on Wednesday in comparison to Tuesday’s fast start to the short week, but MYDX was one of a couple significant movers among our mentions in yesterday’s report.
The stock traded in a range from .0036 up to .0064, which works out to an intraday push of 78% and it came on well over twice the monthly average volume.
Prior to this week, the stock had been consolidating heavily for quite a long period of time, and has now strung together two really solid sessions after registering a new 52-low on Tuesday morning. We’ll continue to monitor this play for the recording of higher highs and higher lows; another strong performance today would qualify it for full-on multi-day runner status.
420 Property Management, Inc. FTPM
Also coming off of yesterday’s report to have a respectable session was FTPM. This is one of the cannabis related plays that we tracked over huge gains back in October as the pre-election marijuana hype was reaching a fever pitch. With the sector seeing a comparatively mild yet still strong resurgence this week, FTPM is among those stocks reaping the short-term benefits.
We witnessed it run from a low of .0011 to .0019 yesterday on more than twice the average volume, which works out to an intraday pop of 72% Like the aforementioned play, we’ll want to see the stock logging higher highs and higher lows for the remainder of the week.
American Eagle Outfitters, Inc. AEO
It’s been roughly a month since we dabbled in any AEO options, and we wanted to formulate an idea this morning granted the fact that the AEO chart is presently at a bottom and beginning to look ripe for a recovery.
Accordingly, we’d like to signal a range of extended-term options contracts in the AEO chain to put on watch in the days and weeks ahead. Unlike last month, when we went bearish with some puts after a mixed earnings release, this time we’re going the other way with the AEO 01/27 $15.50-16.50 Calls. With just under a month until expiration, it gives the stock plenty of time to make its move, so we’ll be watching closely.
ELTZ, AMFE, ORRV, IFAN, SVTE, GLLK