Royale Energy Inc. ( NASDAQ: ROYL ) is a stock we used to trade quite a bit a
few months ago. It moved up on a natural gas discovery Thursday making national
headlines and increasing the companies optimism about future growth. In the
short term were looking at resistance at $4.16. Ill play it in either direction
but right now Im short biased as futures pull back a bit. If buyers dont hold
this up above the MA(200) then its probably going to revisit the MA(50) around
$2.50 before it reaches support. Market cap is $36 million and earnings are on
October 24th. I know, I know, nobody likes China still! But China TechFaith
Wireless Communication Technology ( NASDAQ: CNTF ) is a good company and worth
keeping your eye on. Ive been watching this one quite some time and Im thinking
about going long soon, once I find an entry I like. With support at $1.96 and
resistance at $2.50, a break above $2.80 should allow for serious gains to the
upside. Market cap is $97 million and earnings are November 21st, I think well
see some runup prior to that. Ocean Power Technologies Inc. ( NASDAQ: OPTT ) is
at the center of media attention after being pumped and then talked about
negatively on MarketWatch, yet it fails to fall. I tried to short OPTT early on
with little success but Im going to try it again off the MA(200) or $4.43 if it
bounces again. Not a trade Im looking to swing which means Ill go to cash at the
end of the day due to risk of buyout or good news by the company. If we see a
the market reverse off the top of this channel, and last weeks move was only a
suckers rally, then this one should be coming down.
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