PMCM: Might be the next RFMK type mover considering that it is getting huge volume in the $0.004′s and that’s RFMK just moved up to a penny from. Expecting a gap higher above $0.005 on Wednesday where that level will be first support. Overall, key support is $0.004 moving forward as that was the low from a nice power hour on Tuesday. Resistance is $0.006-$0.0065 with a penny being in play this week if volume stays consistent. Want to see at least 1 billion shares traded on the day with upside to confirm further momentum into Thursday.
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PLUG: The momentum trade of the year is back in play with Tuesday’s awesome afternoon move higher. Gotta see where it is premarket but if the after hours action carries into Wednesday we should see a gap above key resistance @ $8.60. While above $8.60 I’m expecting $10 to be a magnet this week with the year-to-date high of $11.70 not being ruled out either as a stretch target. First support will be the low from the first 15 min of the day on Wednesday. Overall, important momentum support comes in at $7.20-$7.00 as that was the low from the last hour on Tuesday when all the momentum showed up.
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TSLA: $220 remains a key over/under level with $225-$230 being the bounce targets on stability > $220 and $215-$210 targeted on holds < $220 with a new first support having gotten established @ $217.90 (Tuesday’s low). Of note is the fact that on Tuesday’s bounce attempt TSLA stalled out just underneath the $228-$230 range which is key resistance so the first bounce did respect that resistance level. If TSLA starts staying < $220 then that sets up a continued downtrend to the $200-$190 area. In order to reestablish intermediate term momentum, TSLA needs to regain $230. Monday’s low of $210.27 is key trend support overall.
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