This weeks scan provided several possible turnaround plays. I'll be sure to be watching this week.
PLUG:
I like PLUG for several reasons:
1) The stock price has dropped in between the 50-day and 200-day moving averages. The 50-day is positive and will push through the 200-day with some positive momentum.
2) Low Short ratio (<7%)
3) Recent insider buying: Most recent purchases were at $.36
BRD:
The stock price is forming an ascending triangle just below the 50-day moving average. Trader Beware: although price action above resistance at $.56 coupled with larger volume will trigger an uptrend it still has failed to best the 50-day MA.
Others on Watch include:
APPA,BRD,ETAK,GPL,COOL,CBRX,GSS,IVAN,PLUG,LPR,SSN
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