From the Razor Trading Desk (Wednesday July 22nd, 2020)
- Mexica Energy (MXC)
MXC NEWS: None Noted – Low Float Energy Stock
Energy stocks were on the move today. Let’s not get crazy, they weren’t Corona Hot or even Electric Car Hot but they made their mark today.
MXC actually started making its move before the bell yesterday and in after-hours trading where it spiked nearly $5.00 within an hour after the bell.
The previous day move in after-hours trading setup a nice move for today as all trader eyes were now watching this stock and it became a volatile stock for the day.
Gap 166.3%; Closing Price $8.10; Pre-Market High $12.98; High of Day $14.63; Low of Day $7.51; Range $7.12; 56M Million Shares Traded; Float 985K; Market Cap 17M.
- Sundance Energy Australia Ltd ADS (SNDE)
SNDE NEWS: None Noted – Low Float Energy Stock
This stock was trending higher pre-market but it was choppy until 7:37 AM CST where it moved up nearly $1.00.
The stock pulled back under VWAP before the opening bell and then had a surge at 8:44 AM CST on 2.2 million shares of volume.
The move was only $1.00 and a selloff followed with a long fade and a closing price of $3.28.
Gap 58.8%; Closing Price $3.28; Pre-Market High $4.20; High of Day $4.80; Low of Day $3.13; Range $1.67; 82M Million Shares Traded; Float 6.84M; Market Cap 23M.
- Oblong Inc. (OBLG)
OBLG NEWS: None Noted – Low Float
The little nano cap stock started its surge right when most brokers allowed day traders to start pre-market trading at 6:00 AM CST.
The move wasn’t as big as many others we have seen in the past days as it was a quick $1.50 / 25% but still a notable move.
It was a long fade under VWAP and at the open, there was a continued selloff until 3 minutes after the open.
At 8:33 AM CST, the stock began to spike from $3.61 and made a run for the VWAP but it stopped short as it touched the bottom of the VWAP at $4.33, a 0.72 cent move.
OBLG wasn’t ready to throw in the towel as it began to move and cross EMA’s and pushed above the VWAP. This move started at 9:02 AM CST from $3.65 and trended higher to $4.70 inside of 15 minutes.
The stock tried to stay above VWAP and remain bullish for a while but the bears eventually won as they usually do with small caps as OBLG faded.
Gap 56.4%; Closing Price $3.66; Pre-Market High $5.47; High of Day $4.67; Low of Day $3.25; Range $1.44; 25 Million Shares Traded; Float 3.65M; Market Cap 19M.
After-Hours Trading 7/21/2020 – Trade Ideas Scanner – $MXC Moving Up & Big Move Today 7/22/2020 – A Clue A Move Is Evident
