From the Razor Trading Desk (Wednesday July 15th, 2020)
- Genetic Technologies Ltd (GENE)
GENE NEWS: Progress of Covid-19 Severity Risk Test
The stock market was extremely volatile today. GENE lead the charge with plans to scale manufacturing on a Covid-19 test. GENE had a previous day close of $2.26 and hit a high of $10.30 today. I pulled some profit out of the middle of the move and could only watch as the stock moved over $4.00 higher after I sold. Yes, I had a little FOMO but I handled it just fine. This stock was a grinder during pre-market and in the morning hours but then picked up momentum as the day went on. Ross Cameron from Warrior Trading even discussed GENE as a grinder and how it was not his type of stock to trade.
Gap 40.3%; Closing Price $5.67; Pre-Market High $3.25; High of Day $10.30; Low of Day $2.64; Range $7.66; 369 Million Shares Traded; Float 4.77M; Market Cap 68M.
- Equillium, Inc (EQ)
EQ NEWS: Continuation On 7/14 Price Target To $24
This was a higher priced stock then the typical stock due to its recent surges dating back from July 10th when EQ opened at $3.43.
EQ opened at $13.17 today and surged over $6.00, this stock did not grind its way to $19.22, it pushed hard with serious slope angles on all EMA’s with increasing volume.
No Gap/Momo Scanner; Closing Price $17.33; Pre-Market High $13.93; High of Day $19.22; Low of Day $12.59; Range $6.63; 19 Million Shares Traded; Float 8.61M; Market Cap 306M.
- Mogo Finance Tech, Inc (MOGO)
MOGO NEWS: Q2 Earnings EBITDA $4.5M-$5M
The 8:20 AM CST Earnings News pushed this $1.00 nano cap stock to over $3.00 in 8 minutes. There would be another attempt higher and $3.15 would be hit but a selloff to $1.82 would come next.
There would be another entry point as MOGO would begin pushing and go above VWAP but that would not last as this little nano cap would eventually give back most of its gains at the close.
Gap 175.7%; Closing Price $1.39; Pre-Market High $3.00; High of Day $3.15; Low of Day $1.26; Range $1.89; 18 Million Shares Traded; Float 19.83M; Market Cap 39M.
- Sphere 3D Corp (ANY)
ANY NEWS: Buying Rainmaker; Focus On Water Service
This was a pre-market mover from $4.65 to $7.28 in a flash. There was a big gap shown on the charts but it was not reflected on the Trade Ideas scanner. This surge was followed up with a selloff under VWAP that would never attempt to recover.
Closing Price $3.90; Pre-Market High $7.28; High of Day $5.16; Low of Day $2.99; Range $2.17; 2.9 Million Shares Traded; Float 3.72M; Market Cap 22M.
- WISeKey International Holding AG (WKEY)
WKEY NEWS: Parrot Partners with WISeKey for Drone security
This spike would come at 11:10 AM CST on a Partnership for Drone Security. I heard the momentum scanner dinging repetitively and noticed this stock going parabolic with low volume. It was quickly halted on a circuit break. There would be several halts on the way up to $18.49 from $6.50 and one halt going down.
No Gap/Momo Scanner; Closing Price $9.54; Pre-Market High N/A; High of Day $18.49; Low of Day $6.10; Range $12.40; 2.4 Million Shares Traded; Float 251K; Market Cap 131M.
- Taiwan Liposome Co Ltd American (TLC)
TLC NEWS: Covid-19 Strategy – Delivery of Inhalable Liposomal Hydroxychloroquine
A gap started at 6:25 AM CST and the volatility picked up at 8:49 AM CST from the $8.00 level. Within 10 short minutes, TLC hit a high of $12.65.
Volatility continued but it was tough to trade with low volume. The stock remained bearish most of the day holding under VWAP.
Gap 41.3%; Closing Price $8.50; Pre-Market High $9.00; High of Day $12.65; Low of Day $7.01; Range $5.64; 1.3 Million Shares Traded; Float 34.44M; Market Cap 358M.
