1. $MEG - A communications company in the US with a market cap of $95.35 million, beta of 3.03, 2.2x average volume on Friday, short interest of 4.07 million shares (19% of the float) with 19 days to cover (as of 11/15). **Deep breath** That was nearly a month ago, and from the chart it looks like we will still have some nice short covering continue on Monday. Since the 15th, there have been 2,264,567 shares that have traded hands. If all of the shares traded in the past month were covers, then we would have about 1.8 million shares that have yet to cover. This obviously isnt't the case. We had plenty of buyers Friday, and will continue to have buyers come Monday that will force the shorts to cover. Short squeeze anyone? Be mindful of the RSI that is approaching overbought territory, however, keep in mind that if we have a continued influx of buyers we can stay overbought. Areas of resistance are marked on the chart.
2. $FCEL - Develops, manufactures and sells high temperature fuel cells for clean power primarily in South Korea, US, and Germany. Market cap of $121.02 million, 8.9 million shares short (only 8% of the float) with 12.6 days to cover. Earnings set for Monday after hours. Playing into earnings can be dangerous, so I caution you if you are considering buying or shorting monday intraday. That being said, I really like the chart, and feel that if earnings are bad, we will see a triple bottom at or around $0.84, which is where I will be a buyer. Earnings are expected to be a loss of $0.07/share this quarter, so if we see anything better than this I will consider buying. The company has had four straight quarters of beating estimates. Recently, there was a 50k insider buy from the director at $0.87/share, and over 100k shares bought up above $1.00 earlier in the year. Another thing to consider with this price movement, is the $1.00 effect that brings traders attention. First major resistance would be 1.03 for me.
3. $MCZ - Chart perking up nicely off of the triple bottom formed. Gaming company with market cap of $33 million, beta of 2.26...Broke out of its 13dma and 20dma that it has been trying to for the past week or so. I had this on watch previously, but now its starting to come into play. See my previous post for my thoughts on this one... I will tell you I think its only a matter of time before this one starts heading toward $1.00 again.
4. $GMXR - Mentioned in a previous post that I would enter at 1.41, however it never came down to the 13dma, but instead held up nicely on its 20dma. Entry on a pull back to the 20dma, red to green move, or break of 1.73 is where I would take this under my wing.
5. $KNDI - Market cap of $85.08 million, beta of 2.73, and similar consolidation to $MEG. Be mindful of position size. Avg volume is only 63k.
Also on watch - $PEIX, $EDAP
Disclosure - Long $MCZ, $MEG
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