CRR looks as attractive as any fresh long setup, especially given how heavily-shorted the stock is. On the first daily chart below, you can see the tight consolidation within the context of an established uptrend. I am looking at $126 as being the upside price breakout trigger.
MCP was a counter-trend long idea I mentioned over the weekend. The daily chart, second below, has me thinking that strength back above Friday’s highs is good for a fast short squeeze.
MELI is a short idea. We last looked at the stock when we noted the rising wedge breakdown. Since then, we have seen a potential bearish consolidation at the 200-say moving average. Bulls will argue this is merely a stabilization process at the 200-day. But I say weakness below $110 ushers in another leg lower.
Drop me your top tickers overnight.
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PRFT on my radar 4 Monday
CRR and MELI look like traps. MCP has been a value trap forever. The new normal keep the indexes up while blowing traders to pieces.