Watchlist 11/07/2017

STOCKS IN THIS WATCHLIST ARE GENERALLY GEARED TOWARDS SWING TRADING BUT CAN ALSO BE USED FOR DAY OR LONG TRADES.  STOCKS ARE EITHER TRENDING TOWARDS A BULLISH TECHNICAL CHART OR CURRENTLY IN ONE.  ANY TECHNICAL ANALYSIS IS PROVIDED IN THE ACCOMPANYING CHARTS.  PLEASE DO YOUR OWN DUE DILIGENCE BEFORE INVESTING IN THESE STOCKS. (The Shares Float is based on figures from FinViz.Com or wsj.com).

Stocks highlighted in this watchlist include: $SRNE, $TWMJF, $TOPS

SRNE: Float of 42.2M with 4.8% short.  Improving momentum after consolidating for 3 weeks.  Appears to be ready to complete the U-shaped pattern at $3.85.  Still no major except for a bullish note from H.C. Wainright giving the stock a "buy" rating as well as a $6 price target.  Note that finviz has a PT of 13.50.

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TWMJF: This has been on and off my watchlist for a week now and is up 50% in the last 6 days. With its market cap exceeding a billion dollars, Canopy Growth is touted as Canada’s first unicorn in the pot market. While the company sells its produce under various brand names, the brand ‘Tweed’ has had the most recognition, thanks to its affiliation with rapper Snoop Dogg. The 1-year return for the stock in the OTC market has been 267%.   

Canadian prime minister Justin Trudeau is pressing ahead with plans to legalize recreational use of the drug in July 2018.
 

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TOPS: I told myself I wouldn't put Shippers on this watchlist, but seeing that TOPS has gone up 2 straight days, I think we might have one more days left.  Not based on anything but past experience regarding the 3-day cycle.

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