Double-Bottom Watchlist
We like to look for potential rebound plays in stocks that are displaying a double bottom formation on the chart, and we’ve got three such candidate to add to a recovery watchlist this morning.
InVivo Therapeutics Holding Corp. NVIV, Stein Mart,Inc. SMRT, and Sportsman’s Warehouse Holdings, Inc. SPWH have all begun to trend off of a level of support that has been established on one or more previous occasions. We’ll want to monitor this trio in the days and weeks ahead for possible sustained recoveries.
StarBucks Corp. SBUX – Options Idea
Shares of SBUX really came crashing down this morning, all the way to the $55-level, the lowest PPS since March. We’ll be looking to take advantage of a possible forthcoming rebound when the smoke clears.
SBUX has demonstrated solid support in the $54-area earlier this year, so we’ll look for it to hold there or above on this plummet that comes even as analysts are reporting a good outlook.
Once a rebound begins to materialize, we could see some noteworthy activity in the SBUX 08/18 $54-55 Calls.
Extended Watchlist:
UHLN, BVTK, CLDX, OTTV, JAGX, KOOL, IMGN,