WSRA, HYPF, NEI, and TLON headline our watchlist for the upcoming week.
WSRA (0.024) ~ The chart exploded on WSRA last Wednesday with over 14 million shares trading hands. With gold setting a new record high of $1,500 per ounce last week, we think traders may be ready to rush into this junior miner. WSRA is current with their filings, and has been putting out solid news recently. Resistance lies at .025 with our sights set on a further breakout if .03 can be tested and broken. Support has been established at the .02 level and the chart remains in tact as long as this level continues to hold.
HYPF (0.048) ~ HYPF caught our eye due to the long consolidation the chart had been undergoing underneath the .04 level since making a big move back in early February. Last week, shares broke out above this key level and tested psychological resistance at a nickel. If .05 can be broken, HYPF should gain momentum and be good for an easy gain of 20% and possibly more. The chart remains attractive as long as it can remain above .04 as that was the previous level of resistance, we would expect it to now serve as support.
NEI (2.03) ~ NEI is a small cap company in the red-hot cloud computing sector. The company reports earnings this week on Thursday. NEI had EPS (earnings per share) growth of over 500% on a quarter over quarter basis last time they reported, and the chart is currently forming a bullish flag pattern formation. A break of resistance in the 2.10-2.15 region should signal a breakout, while a break below support at 1.90 would likely lead to further downside.
TLON (0.85) ~ This biopharmaceutical stock has been on fire since late March. After consolidating gains for much of April, TLON has started to break out of its base on above average volume. If the stock can clear the .85 level on above average volume, it should be able to test psychological resistance at a buck. Immediate support resides in a recent gap up between .78-.80 with additional support between .70 -.75, a break below these levels would likely lead to further downside.
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