From the Razor Trading Desk (Wednesday July 1st, 2020)
The two leading gappers in MYOS and QLGN ended up providing the biggest opportunities for day traders today. They both had news today, MYOS with a merger item and QLGN with a Covid-19 item.
- MYOS RENS Tech, Inc. (MYOS)
MYOS NEWS: Merger With MedAvail
A previous day closing of under a dollar at 0.88 and a high today of $3.85 made it a two year high for MYOS.
There was a pre-market high of $3.74 but that move came and went before brokerage houses even opened for trading. I was able to capitalize on the dip and ride the 8:43 – 8:53 AM CST momentum and close out my trade when the stock started pulling back.
Gap 136.2%; Closing Price $2.44; High of Day $3.85; Low of Day $1.96; Range $1.89; 224 Million Shares Traded; Float 6.42M.
- Qualigen Therapeutics, Inc. (QLGN)
QLGN NEWS: Notifies FDA Of Intent To Sell FastOack Covid-19 Antibody
A record amount of volume with 44 million shares for QLGN on the Covid-19 News. This stock has a 57 million dollar market cap and is considered a microcap stock (50-300M).
There was a 5 year low of $3.71 the previous day on 6/30/2020. This 5 year low is much higher than some of the other stocks we have been tracking. For example, UONE had a 5 year low of 0.95 on 3/23/2020 while hitting a 5 year high of $54.16 on 6/15/2020.
But in saying that, QLGN has a 5 year high that is seriously high than most stocks we track at $1,172.50 on 7/6/2015.
QLGN began trending at 7:00 AM CST and continued to 7:30 AM CST before pulling back while holding VWAP. I was able to catch the middle of the move from $5.05 – $5.96 with small size.
The Biotech stock wasn’t done yet as it held VWAP and continued to trend higher before and 5 minutes after the bell to $7.49 before double topping and pulling back sharply nearly $2.00.
With the well above average volume and the recent catalyst, I will be watching for a continuation move.
Closing Price $4.57; High of Day $7.50; Low of Day $4.40; Range $3.10; 44 Million Shares Traded; Float 8.06M.
Here is the spreadsheet for you to study. It’s the best small cap stocks that made the biggest Parabolic moves: Best Parabolic Stocks
