With the Fed interest rate decision this week, there is likely to be substantial volatility. Our plan is to use that volatility for entry and exits into some of our favorite names. We believe that this is a market that favors aggressive trading over building longer-term positions.
Rather than issue a new Stock of the Week, we are offering some names with attractive technical setups that we will have on our radar and will look to trade depending on how market conditions develop.
Two chip-related names we are tracking are Aehr Test Systems (AEHR) and MagnaChip Semiconductor (MX). AEHR is a high-growth name benefiting from test equipment used for testing semiconductors that are used in electric vehicles. MX is a Korean semiconductor name with a very large cash position and is an excellent value. Value plays are not doing much right now, but we may take advantage of market-related weakness.
Catalyst Pharmaceuticals (CPRX) is a biotechnology name with some of the best revenue and eps growth in the sector. It is basing well and should move with the sector.
Onsure Technologies (OSUR) is a thin stock that develops diagnostic testing. It is turning cash flow positive and has strong growth. The stock is trading near highs and had a good recent quarterly report
PDSB Biotechnology (PDSB) and Provention Biotech (PRVB) are two biotechnology names that have had strong recent news and are basing near their highs. We are looking for potential breakouts in a strong market or buyable dips if there are poor conditions.
Beyond Air (XAIR) is a previous Stock of the Week that has seen some very favorable insider buying lately and is in a position for contract news early next year. The stock has been bouncing around on support for around $5.75 and is thinly traded.
Dole PLC (DOLE) produces and distributes fresh fruit and carries a 3% dividend. It has had very sold growth and is forming a high tight flag pattern around $10.50.
As always would not chase these names on Monday morning but will look for entry and exits as conditions develop.
This post is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this post. Do not buy, sell, or trade the stocks mentioned herein. We WILL actively trade this stock differently than discussed herein. We will sell into strength and will buy or sell at any time for any reason. We will actively trade into any unusual activity. At the time of this post, principals, employees, and affiliates of Shark Investing, Inc. and/or principals, clients, employees, and affiliates of Hammerhead Financial Strategies, LLC, directly or indirectly, controlled investment and/or trading accounts containing positions in CPRX, AEHR, MX, OSUR, PDSB, PRVB, XAIR, DOLE. To accommodate the objectives of these investing and/or trading accounts, the trading in these shares will be contrary to and/or inconsistent with the information contained in this posting.
