Extreme Trade Updates (9/24/18)
September 24, 2018The following trades remain on hold:
Applied Materials (AMAT) stock — $49.90
AMAT currently trades at $39.63. Continue to hold.
iQIYI Inc. (IQ) stock – $30.85 entry
We closed the calls for a loss, but we still hold the IQ stock. It last traded at $25.47.
Adobe Systems (ADBE) — $248.96
The stock now sits at $259 and remains a hold. We have a near-term price target of $280.
Raytheon (RTN) — $187.12
RTN is back up to $203.46. Hold the stock with a near-term price target of $210.
Twitter (TWTR) — $32.68
Hold the stock. It’s aggressively oversold at a current price of $28.30.
Facebook (FB) stock– $175.84
Hold the stock. It’s aggressively oversold at a current price of $161.41.
Barrick Gold (NYSE:ABX) — $10.25
ABX January 18, 2019 10 calls — $1.01
As gold begins to rebound higher, related stocks are beginning to push higher. We have a near-term price target of $11.50 on ABX. It last traded at $10.90.
Micron Technology (NYSE:MU) — $49.85
MU October 19, 2018 52.50 calls — $2.46
The stock pulled back in recent days on a tech sell off to $44.10. Hold both positions at the moment. MU has become aggressively oversold.
Weight Watchers (NYSE:WTW) — $73.87
WTW October 19, 2018 80 calls — $2.85
Still oversold, we have a near-term price target of $92.50. That would refill its bearish gap from August 6, 2018. Hold.
Goldcorp Inc. (NYSE:GG) — $10.84
GG January 18, 2019 11 calls — 78 cents
The stock is down slightly at $10.60. We continue to hold on oversold conditions. We have a $15 price target.
OrganiGram Holdings (OTC:OGRMF) — $4.98
As the marijuana story heats up on corporate interest and Canadian legalization in October 2018, stocks such as OGRMF should continue to push higher.
Newell Brands (NYSE:NWL) — $21.55
NWL December 21, 2018 22 calls — $1.58
NWL is still technically oversold. With patience, we believe it could eventually refill its bearish gap around $26.40. Hold.