This is the update of the list of potential plays from the last week.
With the current pullback in the stock market, most of the companies have reached buying levels. Others have breached below their support levels and headed lower and some have already reached their targets.
The most remarkable calls were in CPE and DSPG. Check out the charts:
The DSPG stock has made a pullback right to the entry point at 5.80 and then reversed all the way to 7$. It looks like it has some steam left. My target would be 7.75 before any rebound.
CPE has risen more than 40% since my call.
Here is the list of the remaining stocks to watch this week:
NTRI
TRA
AGU
TSO
VLO
PETD
ALY
OMNI
CFW
NGAS
WNR
Here is another stock similar to CPE:
KAZ - a US registered company ingaged in oil production and exploration in Kazakhstan. BMB Munai operates under its wholly owned subsidiary Emir Oil. The company is engaged in the exploration, development, and production of crude oil and natural gas. The Aksaz, Dolinnoe, and Emir oil and gas fields in western Kazakhstan serve as the primary areas for exploration and development. It transports oil and gas via rail, barge, and pipeline through Russian territory.
Although the stock is losing its steam and there is no follow through in price, it is strong fundamentilly. With the market Cap. of ~60$ mil. it has 250$ mil. of proven oil and gas reserves.
I have gone long at 1.20$ and planning to hold this one forawhile. Next week they will aanounce their 3rd quarter results, that should be interesting.
One of the stocks to consider to play this rebound is ADSK.
The stock is in clear uptrend. It has plenty of support at 27$. My first target would be 31-32. This should coincide with the S&P 500 index at 1100-1120.
Right now the pair is in a clear downtrend (4H chart). If it doesn’t break above 1.26-1.27 come Monday, then it would be a good idea to place a short. First target 1.2430, second – 1.23. If that doesn’t hold, we will eventually see 1.20 soon.
