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GNUS
Stop loss: 1.52
Price target: 1.80
Second PT: 1.95-2.00
There was a point in time where traders thought this stock was going to the moon, but that’s very rare to happen to penny stocks. Every once in a while, you’ll see a stock like GNUS move up to double digits, which it did back in June, but those moves typically don’t last as they’re driven by hype, not value. The set up we currently have on this stock is based on how it has developed since that big move. GNUS suffered from months of selling and is finally beginning to show upside potential again. The stock’s chart is displaying a fluid bottoming out pattern that led it to the current wedge down breakout it had. On that breakout, the stock pushed to 1.60 before getting rejected therefore our primary focus this week is at that price point. Our strategy to trade this stock should be a breakout one at 1.60 and be prepared for a quick move. With the amount of volume this stock booked on Friday, its breakout will move quick.
ZNGA
Stop loss: 9.25
Price target: 10.60-10.80
Analysis done on two hour candles. Over and over again, ZNGA has been named one of the “best stocks under $10.00,” for a good reason too. The company operates in a very lucrative and popular sector, partnering with giants like Facebook. This game developing giant is finally gaining traction after years of establishing itself online to consumers. In terms of their technicals, the stock does show a large upside potential that could take it passed 15.00, but unfortunately with earnings coming up early next month, we may be exiting before that happens. Depending on the results of their earnings, we may quickly find re entry on this company to carry us to higher profitability.
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NCLH
Stop loss: 16.40
Price target: 19.00
Second PT: 19.80-20.00
Analysis done on two hour candles. As airfare begins to pick back up, you’ll see stocks in the same sector begin moving in the same direction, even if they’re unrelated. We’re seeing this happen here with cruise lines following airlines. NCLH is particular is displaying buying strength and ended the week strong enough to suggest a further upside move this week. The stock’s hourly candles are currently a bit stretched out so our best entry would be on a pull back from Friday’s move. The healthiest consolidation the stock will have is above 17.50 so our pull back target is that price point.
RNWK
Stop loss: 1.55
Price target: 1.85
Second PT: 2.00
Analysis done on two hour candles. RealNetworks is similar to Zynga in terms of their specialty but they also offer music and other services to consumers that include monthly subscriptions. Although volume is low, the stock’s float is extremely low, meaning it has potential to move steadily with just a little bit of volume. The company itself has received multiple “buy” upgrade ratings and we’re seeing the stock positively react as it pushes up slowly. Overall, the stock’s daily and weekly charts are attractive and have the potential to reach our price target, if not this week, then through the next month.
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All numbers and price points are subject to change based on market performance and sector health
Hyper Stocks is not responsible for any losses that may incur from the set ups posted. All set ups are purely based on our own research and are posted for entertainment and ideas purposes. If you choose to trade these set ups, trade fully at your own risk.