HEMP, BBDA, BCAP & Extended Watchlist

Hemp, Inc. HEMP

After being as low as .027 on Tuesday following our medical marijuana round-up, HEMP reached, and closed at a high of .041 on Thursday, gaining 52% on the week. Whenever a stock closes at the high of day we are on the lookout for momentum to continue into the following session. Granted that today is a Friday, we are going to want to leave this play on our watchlist into next week.On the chart below, we can see that the previous high (Feb.) of .05 is going to be our next key level of resistance. A break above that point, could push HEMP into Blue Sky Breakout mode, and we surely don’t want to miss out on that.

Additionally, the RSI is in the power zone, the volume and momentum has really been picking up, and the PPO recently had a crossover. We can now see that the lines are really starting to diverge.

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Bebida Beverage Co. BBDA

BBDA has been on our watchlist for a while now (July 6th), logging some monster gains in the process. The low during our time of coverage was .0015, and running as high as .019, marking a whopping 1226% gain.

The stock has been struggling to maintain an uptrend since it peaked at its high. There have been a few small bounces, but nothing we’d call sustainable.

We have a descending wedge setup happening on the chart, and once it breaks out of that pattern, we could be in for the next round of gains from BBDA.

The RSI looks ready to come off of being oversold, while the PPO is pinching, getting ready for a cross. The histogram  appears ready to flip up to the bullish side as well.

Yesterday we saw a textbook bounce off of the 100DMA (.0061), only to run into resistance at the 20DMA (.0076). The stock closed at .0065. The next resistance points are the 20DMA of .0076 and the 50DMA at .0101.

A break here could send us clear to a penny and a half, or even re-test the previous high at .019, bringing us gains of 100-200%

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Baron Capital Enterprise, Inc. BCAP

We re-alerted BCAP last Friday. We wanted to congratulate members who caught yesterday’s bounce. BCAP held support at .0007 this week just as we had hoped, and made its run to .0012.

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Extended Watchlist:

GDSM, HRDN, AONE, PDLI, SVNT,

 

DIMI, SOMX & Today’s Extended Watchlist

DiMi Telematics International, Inc. DIMI

We are adding DIMI to our radar this morning, as a possible dead-cat bounceplay. We always like to find stocks that have recently taken a beating, and attempt to anticipate resulting bounces.

Watching the level 2 late in the day yesterday, we noticed support building in the .07-range, and saw the stock trading heavily at .08 into the close.

We will of course be exercising extreme caution, but the potential for a recovery surge is pronounced, and thus we will want to keep a close eye for any possible gains.

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Somaxon Pharmaceuticals, Inc. SOMX

We wanted to give a nod to SOMX this morning, as a stock that recently enjoyed a surge on extremely positive press.

It appears as if the surge could continue, as the stock seems to be gapping up this morning, so we will keep an eye peeled for that occurance.

SAN DIEGO, Jul 17, 2012 (GlobeNewswire via COMTEX) — Somaxon Pharmaceuticals, Inc. (Nasdaq:SOMX), a specialty pharmaceutical company, today announced that it has entered into separate settlement arrangements with Mylan Inc. and its subsidiary, Mylan Pharmaceuticals, Inc. and Par Pharmaceutical Companies, Inc. and its subsidiary Par Pharmaceutical, Inc. to resolve pending patent litigation involving Silenor(R) 3 mg and 6 mg tablets.

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Extended Watchlist:

GTGP, SVNT,