U.S. stock futures are falling Monday morning ahead of Wednesday’s FOMC policy decision. I cashed up Friday after a nice $6,000 win on ZSAN and will be looking to put those funds to use into this dip.
[Ed. Note: Jason Bond runs JasonBondPicks.com and is a swing trader of small-cap stocks. In 2015 he earned a 180% return on his money. Then in 2016 he turned a $100,000 account into $430,000! Discover How He Did It]
Long-term portfolio updates:
LQMT – Apple is secretly making its own display screens for the first time – Bloomberg. This is likely to drive LQMT higher as speculation and stories start to develop from this report. Long-term goal for me is $.40+ on a breakout.
ROX – Shares broke $1.30 on Friday and key trendline resistance on the way to the SMA 200. Once above $1.40’s I think we see a big move to the $2 resistance point. Big takeover target after Bacardi recently bought Patron tequila for $5.1B.
Here’s what I’m watching for new swing trades Monday morning.
CRON – Toronto based pot stock. Continuation chart pattern in play above $7.70 for a move to the $10’s. Looking further out there’s breakout potential above the low $11’s when this sector gets momentum again.
APRN – Meal kit company. Oversold chart pattern that probably goes lower today with the market. However, I’m watching $2 support like a hawk for a bounce. The company is due for good news and definitely a takeover target since meal kits aren’t going away.
HMNY – MoviePass scaling and monetization of user base. Oversold chat pattern and it’s heavy finding little real buying into dips. It’ll take significant good news to trigger a squeeze on this one and it has that potential.
KBSF – Menswear fashion news winner last week. Continuation chart pattern in play above $6 for a move to $8. Likely attracted sellers Thursday and Friday into the $12 spike and could see some bounce now that it’s back to support.
MFIN – Financial. Breakout chart pattern in play above $4.80 with range to $6 if it clears the $5.40’s. Strong trend since November and likely to try again here soon I think.
