Small Caps Weekly Watchlist: SSRI, ARIA, RSH, NBIX, FNMA
Silver Standard Resources Inc. (SSRI)
SSRI seems to “bounce off the 20 day moving average.” In recent history, it went from about $6.50 to about $12.20 (+87%) December 2013- March 2014. Its showed a similar pattern again this past week.
Silver is moving again. Looking at this as a sympathy play. A high quality silver company that is also worth a look is SLW.
Ariad Pharmaceuticals Inc. (ARIA)
ARIA in oversold territory and hatred from traders is the reason its on my radar again. Chart has broken support, but looking primed for an oversold bounce.
Iclusig possibilities still exists. Approval? …But I’ve revenge traded (and lost) on this enough that I’m just a spectator. Something tells me that when enough traders (like myself) gives up on this, and the sentiment becomes so bad, the stock will finally shoot up.
RadioShack Corp. (RSH)
RSH is near oversold RSI 38, and it has high short float of 28%. It looks to be consolidating and forming a base.
Oversold, high short float, if RSH has some decent earnings, it just may surprise to the upside. Looking intently because earnings release is tomorrow (07/21/14).
Neurocrine Biosciences Inc. (NBIX)
Looking at NBIX purely from a technical point of view. With earnings release tomorrow, it could fill the gap down to $12ish or move up to $16ish. It just had a bullish engulfing candle on Friday.
Federal National Mortgage Association (FNMA)
FNMA bounces off two moving averages: 150 day (30 week) and the 50 day (10 week). The “bounce” was around $4ish, but I’m playing it safe so I waited until FNMA had a new 20 day high. I’m done with picking bottoms, I’ll go for the new highs concept, that seems to work better for me.
This pick is actually from HereitFirst an up and coming (mostly) small caps/penny stocks website. I’ve been following them for a while now, Mitchell Fung (the main trader) is building up a solid track record. Definitely worth a look. The gist of the article is that FNMA doesn’t owe the government that much anymore and the bail out is working out.