Trade #90 – Resistance at $0.06

In Trades by JCLeave a Comment

I just started using Trade Ideas to scan for stocks. Last Friday was my first day playing around with it. I enabled one of the default scans “Top Percentage Daily Gainers”. It searches for stocks with unusually high daily volume and price action.

I traded LIQD the day before and won. Seeing it on the Biggest Gainers list the next day got me interested again. It appears to be holding up at $0.06.

This stock held up at the beginning of Sep 2015 @ $0.06. I’ll wait to see if it holds before entering again. Volume is key.

A Nasdaq or NYSE stock with 200K or more traded before 9:30am is considered strong. If it bounces off $0.06 and the volume is there, it may make for a good single day trade.

This company is in big trouble and will probably be delisted soon. Don’t fall in love with this one as it may not be around much longer. Hit it and quit it if the opportunity is there. I’m looking for another .10 move without being too greedy.

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