Wednesday, July 5, 2017

3 Stocks I'm Watching for 7/6/17


Jazz Pharmaceuticals was down slightly today on low volume, but its daily chart looks primed for a breakout above heavy resistance around $160.
I'll be eyeing the $158-$159 area closey in $JAZZ before I put on any position. Biotechs have been hot in the past few weeks, & I'm looking for that trend to continue.




Calithera Biosciences closed at a 52 week high today on strong volume. RSI is still not in the overbought territory (>70) on the daily chart. I'll be watching for a continuation play if it can get above today's high of $17.90. $CALA could also retest it's breakout area of ~$16.50 before it resumes higher.




I'll also be keeping a close eye on the Nasdaq tomorrow (holding overnight positions in both $AMD & $PYPL). The Triple QQQ's have been getting hit pretty hard in the past few weeks after a prolonged period of out performance earlier in the year. It was a nice bounce back today, but 1 day does not make a trend. It will be a healthy sign if the $QQQ can regain & close above it's 8 day EMA around ~$138.25 tomorrow.


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