While I didn't make any plays today I must say that typing out a plan and identifying support and resistance the day before definitely made me feel more "in control". I was able to have a plan for each stock where I could buy and sell without having to worry about jumping in and coming up with a plan after. Today I got to see that plan in action with SEFE. It bounced off of my key support I marked out, which if I bought and held for the day I would have gotten to see nice returns. I will not be at my computer tomorrow until EOD but I still wanted a plan for all these stocks for when I get back. Wednesday I will come up with a plan again for SEFE and put a small amount in it to see how my plan turns out.
Here is my plan for some of the stocks on my watch list listed below.
SNPK:
Again this stock is going to stay on my watch list. It is not going to be in play for me since it is very toppy at the moment, or at least seems to be. I expect to see a pretty big dip in the upcoming days.
Here are the two options I have set for myself:
1. Wait for a bigger dip and play a bounce, or wait for a small dip and play the small bounce
2. If the day has huge volume and enters into a state where it starts beasting up, play it quickly.
SNPK Resistance:
1.97
1.99
2.00 (Hard Resistance)
Both of these levels could act as support if it gaps above or runs above these resistance points
SNPK Support:
1.94
1.91
1.89
1.88
1.85 (This should act as key support, if breaks it could go a lot lower. Could also be nice bounce)
SEFE:
SEFE is an interesting one. It is a very slow moving stock so almost every price can look like support. I did my best on mapping out different support levels I feel could be beneficial. A lot of people like taking this stock for gap, it may get you a 1-2 cent gains. It also can not gap at all. Personally I don't like taking this stock for gap, I'd rather play the morning dip. SEFE dips every morning which is why it's key to find the support levels. If you find and play them this stock can turn out very profitable for a swing or day trade. Today SEFE hit my support in the AM (1.30 which was resistance but I said could act as support) which if I bought would have had nice returns. However, I chickened out and did not play.
SEFE Resistance:
1.38 (Could act as support for gap up or run)
SEFE Support:
1.36
1.34
1.33
1.30 (Could be key support)
LUXR:
This stock I am only watching right now. If today's gap is any indication it may play out to be the next STVF of gaps. Gaps have stunk lately so I am really looking forward to this one for gap plays.
LUXR Resistance:
.9892 was days resistance, will have to watch to see how this stock reacts to breakouts
LUXR Support:
.9205 to me looks like key support for this stock since it has bounced off of it multiple times
I will definitely keep this stock on my watch list.
RSRS:
This stock people are claiming may be a future pick. I don't like trying to guess a pick in advance. However, I will say that people who bought SH call and sold today when it ran got to see nice profits. Next time I may put some $$ into his early calls and just try to ride a quick scalp when the volume starts to come in.
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