Westwater Resources Inc. stock trades under the ticker WWR & has recently displayed technical strength, making it worth examining for trade opportunities.
WWR stock does not have options, but is a member of the NASDAQ, so while you have to buy the shares long, you can hedge against the position by using an inverse-NASDAQ Index ETF/ETN, or by buying options for or against the NASDAQ products.
An example, buying the SQQQ ETF, and or calls in it could be a means of hedging against the long WWR trade.
WWR Price: $11.80
10 Day Moving-Average: $2.84
50 Day Moving-Average: $2.19
200 Day Moving-Average: $1.96
While WWR’s RSI is high at 94, showing signs of being very overbought, after such a strong takeoff that is to be expected, and will go down to a more normal level as it establishes its new range.
WWR shows potential for being a good short-to-medium term trade.
Cassava Sciences Inc. trades under the ticker SAVA and has recently displayed technical strength that makes it worth looking a little closer at for a trade opportunity.
SAVA currently trades at $11.16 per the close of 9/28, and are currently down ~3% in the pre-market today as the futures trade mostly flat/slightly lower (per 7:30 am).
SAVA options that are closest to at-the-money are at $10 or $12.50 for calls and puts.
Given the breadth of that spread, I am going to look to be buying the slightly in-the-money options, as their Deltas are higher, and they offer some cushion for safety on a day like today which promises to be relatively uncertain.
SAVA Price: $11.16
10 Day Moving-Average: $9.36
50 Day Moving-Average: $4.55
200 Day Moving-Average: $5.02
Their RSI is currently high, although that should begin to shake out as they establish a new price range.
I may start the day buying puts, and then as the price starts to settle down sell them and look to buy some calls & perhaps set up a straddle based around where the price is settled.
VivoPower International PLC stock trades under the ticker VVPR, and has recently displayed some noteworthy technical strength.
Overall, VVPR’s chart shows upward momentum, with eyes looking at their resistance level of $9.50, ~12% above where the current price is trading, making them worth considering for a trade, and perhaps a longer-term investment long shot idea.
VVPR Stock does not have options to trade, so for hedging purposes, if you were to buy shares, it would be wise to look at ETFs like SQQQ for days where a hedge is required.
VVPR Price: $8.50
10 Day Moving-Average: $7.99
50 Day Moving-Average: $4.81
200 Day Moving-Average: $2.01
I will be looking at VVPR for a short-term trade opportunity within the coming days.
Sunworks, Inc. trades under the ticker SUNW & has recently experienced a bullish surge in price. Yesterday alone SUNW stock climbed by ~239%, and as of 8:05 am it is down 16% from yesterday’s price amid mixed signals in the futures markets.
While it looks to establish its new trading range there should be many opportunities for traders to make some money.
Sunworks, Inc.’s stock does not have options, so a trader would be looking for an entry into common shares as it begins to readjust to its new price range.
A trader in this name will have to be vigilant though, as there are no puts to use to hedge against volatility, and using SQQQ calls or shares may be a bit too aggressive, despite SUNW’s high Beta of 2.96 (5 year monthly).
SUNW Price: $3.28 (pre-market)
10 Day Moving-Average: $0.93
50 Day Moving-Average: $1.16
200 Day Moving-Average: $0.77
While today may not be the best day to hop into them as it may be a risk off Friday for many folks, there should be some appealing entry points, particularly as the 10 Day Moving-Average prepares to cross the 50 Day Moving-Average in the coming trading sessions.
Marinus Pharmaceuticals, Inc. trades under the ticker MRNS & has recently displayed signs of technical strength.
MRNS is currently $12.01/share.
After gapping up on 9/15 it is looking to establish a new range, and shows more room to increase in price with its 50 Day Moving-Average approaching the 200 Day in a positive manner.
MRNS Price: $12.01
10 Day Moving-Average: $10.94
50 Day Moving-Average: $8.09
200 Day Moving-Average: $8.62
While MRNS does have options (my mistake from the date I published it saying it did not), it does show signs of being an interesting trade using the common stock. With what looks like more room to run, MRNS is worth considering for a short term trade.
Cardiff Oncology, Inc. trades under the ticker CRDF & has recently shown a lot of technical strength.
Their current price is $11.50, making the $10 Call options more appealing than the $12.50 calls.
While the stock itself is relatively young, they have been on a tear since April, with recent major breakouts the last few days.
CRDF Price: $11.50
10 Day Moving-Average: $6.09
50 Day Moving-Average: $6.99
200 Day Moving-Average: N/A
While the RSI is overbought, their recent few days’ strength is to blame, and their RSI should begin to smooth itself out soon. While I normally do not bother with companies this close to their IPO, this looks like the opportunity for a quick trade worth considering.
Tupperware Brands Corp. trades under the ticker TUP & has recently shown a lot of technical strength. They currently are trading at $25.61 as of the close on 9/21/2020, making me eye the calls for $25 and $26.
Given that the markets look to have some overnight momentum to run with from the look of futures, the slightly out of the money $26 may be advantageous for a short term trade.
TUP Price: $25.61
10 Day Moving-Average: $24.12
50 Day Moving-Average: $15.03
200 Day Moving-Average: $7.33
Their RSI is showing signs of being overbought, which could also make the idea of using a straddle appealing to some traders, as when the price of TUP ventures too far from the strike in either direction while the price establishes its range, the trader will profit.
If exercising the straddle, I may think to opt for the $25 calls & puts instead of the $26.