The Watch List is performing well, Day 3.
We added RDN for a possible short term swing, as the company reports next week on Thursday. We’re looking at existing candidate, PRAH as well, seeking a follow through day for a scalp. If either of these finish near the High of the Day, we would consider swinging a portion of the position. Take most of your profits off the table EOD.
RDN will probably follow through today, as momentum continues to favor the bulls. Targets 19.30 and 19.87, as price action lifts into the Kirby, suggesting a test 52 week highs. RSI and MACD suggest this latest swing high will follow through.
PRAH is performing as expected, pushing off the 9ema with gusto. The last two times we saw this follow through, the stock propelled higher by +3.50 points. RSI STO and MACD all point to higher prices. Use the TD setup for entry, then follow through on each flag.
As we go to print, futures are higher by +8.50. Gold is lower. Yields are higher. The dollar is stable just below 100.00. Oh, and Morgan Stanley crushed earnings!
Happy Day After Tax Day!
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