Daily Wrapup - ASTC, TLR, URZ, and MGI

ASTC


Closed this position for reasons I stated previously.  The stock did hold the $3.39 support from the hourly chart, and closed just below the trendline I had drawn.  Not complaining about this trade, all these black body candles scare me.  I don't see a good entry on this again until it comes back to where I bought it previously but then again, it would completely break the trendline.  Most likely, this is off my radar.

TLR

Came back down a few points but still within the flag/pennant so still in play.  Looked like some upward movement this morning, but trickled back down.  Trailing stop is now trickling up with the trendline.  Tomorrow a close below $1.03 on significant volume is my exit, that's a break past the $1.04-$1.05 horizontal support plus the lower trendline.

URZ

Looking good, high $1.90's is next range I am watching which would be a nice profit as is, but this could have legs to get back to $2.30 eventually.  I have drawn horizontal support at $1.71 area, but I can't let that try down there again.  Not after going green.  I'll look for intra-day support at $1.76 to hold as my exit to get out with a tiny loss, and if it does keep dropping trying to buy in cheaper.  Not sure it would be worth it at that point considering commission costs would start adding up.

MGI

Well, I didn't get out of ASTC fast enough to get in on MGI early but it pretty much went right as planned.  It bounced off the horizontal support and was up pretty good today - closing at $3.41 or up 3.3%.  Next area of resistance is probably in the low $3.60s with the higher hopes of $3.80s.  I don't know if I would like this one anymore if it does come back down - I think today was the bounce to play.

Watchlist

Today was a somewhat large green day for the stocks on my watchlist which usually means I am not going to like many for an entry.  I don't even really have any on my radar right now that I am waiting for the right entry.  I try to keep an eye one them during the day but sometimes work precludes that from happening.