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Trade Ideas for July 23rd

IQ blog post coming soon.

Take your trading to the next level. I have to be careful with over-trading this week or taking too many positions without checking earnings dates first. So much on watch. Here's my top 10 going into Monday.

CPST - Nice setup for the 1.80/.85 breakout and push towards 2/2.10. Slower play. 5 cent risk or entry if starts to go. Lake Street Capital put a $3 target on it last month. I understand Lake Street probably wants to underwrite their next offering, but in the meantime I'll try to catch a day/swing out of it.

CPST stock chart
Capstone Turbine CPST watching for 1.80 break and hold.

VKTX - IF it can hold 11 one of these days it'll squeeze nicely. 20% short float.

VKTX stock chart
Viking Therapuetics VKTX watching 11 break and hold.

AMPE - Needs follow through over 2.80. Risk is now on the 2.50ish breakout area. 19% short float. Only 9 cents per share cash though. They may have to do a raise soon. I'm long options to lower risk than buying all stock.

MTSL - watching for 3.25 breakout. Or if it gaps above watch for dip to same level or setup later for continuation over 3.75. Nice little triangle setup on the 30 minute chart for another run. Max pain 2.88 Friday's low for me.

MTSL stock chart
MTSL 30 minute triangle setup

UUUU - Pay attention to uranium stocks this week. Rumors flying Trump may put tariffs on uranium imports. This American based company will get a boost if he does. Not to mention if 2.65 resistance gets taken out it could speed up this week.

UUUU stock chart
UUUU needs 2.65 breakout

CLF - Upgrades coming after the earnings beat Friday? I'm long 8/3 11 calls cheap. Ideally gets a push into the 12-13 range in coming days. Nice big breakout over 9 resistance on Friday. That's the risk now if you snag dips or hod setups for next leg higher later this week.

CHRS - Needs 18.70 breakout. Keep in mind they have a CHMP meeting this week for potential approval of its leading drug candidate. Options may be more appropriate here to minimize risk.

CHRS stock chart
CHRS needs 18.70 breakout

FBP - daily chart looks ready for next leg up. Trend, consolidate. Trend again? Watching for 8.10 breakout with risk on 7.60. Earnings before open on Wednesday 7/25.

HEAR - finally trying to speed up as mentioned last week. I'm long and will sell pops, re-buy dips. This has been such a fantastic trader over the past few months. 36% short float according to finviz.

HEAR stock chart
HEAR daily chart trying to speed up and squeeze pesky shorts

IVTY - daily chart seems to be bottoming. Watching for 4.25 breakout. 4.50 bigger level. Earnings August 2nd. It loses money, tough to justify holding that long. Will trade small if it starts to go.

Okay and LBIX for kicks for day-trade setup only for me. Watching dips for bounce over daily resistance 1.85ish. Wouldn't be surprised to see quick pop into the 2's. Merger vote coming tomorrow.

Happy Trading!

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