Friday we had a couple tickers we were watching. One basically took a nap and two others moved in our favor. We’ll update on those below.

A ticker I have watched for years popped on my radar on Friday and it created a set up that is a textbook case to look at. With money moving out of AI and tech it is searching for places to land. One sector that seems to get some attention is health care and specifically biotech and pharma. (Joe Duffy has a great take on this.)

This ticker took a big beating to close out last week but it has been looked at optimistically by Wall Street as a under valued stock in a rising sector. Let’s look at the chart and see if it is a falling knife or a dip to buy.

Opportunities like this are priceless. I have been in this business for over 30 years and without question I have learned the most at trading conferences that bring together top experts who share what they are doing. This event connects you with 40 of the best and is is completely free. Be sure to checkout MetaStocks Online Trading Conference this week. Here is the schedule.

Tandem Diabetes makes insulin pumps that help people manage their diabetes. It’s big feature is an algorithm that allows it to mimic the actions of a human pancreas and better manage blood sugars. It is not the only game in town but it has established a solid foundation with decent market share and reputation.

It had a tough earning report that knocked it back hard on Friday. While this is a big drop, it landed at a very strong level of support at about 15.50. If we look at the MACD at the bottom of the chart it is trying to form a bearish crossover but hasn’t confirmed yet. This is going to be one to watch over the next week to look for signs signalling the next move. TNDM had a similar move back at the end of June that turned into a nice rally. It has only had one real dip below this level of support in the last year so if I had to make a call today I would take the dip. But smart money would definitely wait for more confirmation either way.

Our LUV call from Friday did well and is looking to move in our favor again today (Thanks Keith!!). USO hung pretty flat and didn’t give us the clear signal we were looking for but it may do that today. It is looking like a solid put trade opportunity.

The trade that looks to really payout is that ACI longshot we looked at. It took a hit but as we noted here, it was higher risk and needed more room to swing to play out. From .68 when we grabbed it is up in to the .88 range and could move higher. Liquidity is tight so set a limit on this one when you sell to make sure it doesn’t bite you.

We’ll update you on these as they play out.

Keep learning and trade wisely,

John Boyer

Editor

Market Wealth Daily