First thing’s first; we want to congratulate anyone that caught AVOP off of yesterday’s Extended Watchlist. Marijuana-related news strikes again! The stock traded as low as .0006 early in the morning, and would go on to push as high as .0015 just prior to the close.
Petroleo Brasiliero S.A. (Petrobras) PBR
Yesterday we saw PBR make its first big consolidation since we began tracking its recovery off of all-time lows, but not before gapping up to a new high. It provides a good lesson as to why it’s always a good idea to sell into a gap-up and lock in those profits on strength.
Despite the dip, yesterday’s low of 13.70 is still significantly higher than its 11.25 price when we first came across the play on 03/21. We’d like to see support hold at or above that 13.70-mark, or risk seeing a more substantial pullback. Below that, the next level of support is the 200DMA at 13.47.
Overall, PBR and its options chain has exceeded our expectations at every turn, and provided it holds the level of support we just mentioned, we still like the May $12, and April $14 Calls for longer-term chances, and the $13.50 and $14 Weekly Calls for possible short-term opportunities.
Formcap Corp. FRMC
One of the potential bottom-plays we put forth in yesterday’s morning report went on to have quite a session. FRMC traded in a range from .031-.0489, representing a positive intraday move of 58%
It also marked the third consecutive session of the stock making both higher lows and higher highs, further confirming the uptrend off of its recent bottom.
United Treatment Centers, Inc. UTRM
We also want to point out one of our recent interests with fresh news hitting the wires this morning. We’ve been expecting an update from UTRM and it’s finally arrived:
LOS ANGELES, CA–(Marketwired – Apr 9, 2014) – United Treatment Centers Inc. (OTC Pink: UTRM) (PINKSHEETS: UTRM) DBA www.PotNetwork.tv: “We have closed our first round of financing and will launch full scale website/video operations on 4/20/2014. After fielding several offers, we have put together a structure that enhances shareholder value and is commensurate with our long term objectives” >> FULL PR
Speaking of marijuana-related plays, we will be re-alerting one of our old favorites tomorrow, be sure not to miss out on Thursday’s report hitting your inboxes between 9-9:30AM! This stock is primed with the potential for a serious move, so stay tuned!
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