Watchlist for 20 December 2016: CRMD, FPRX, OXM, SCYX, WK

My watchlist for 20 December has five stocks: CRMD, FPRX, OXM, SCYX, and WK. Let’s go through the details:

CRMD is bouncing along the bottom of a long term trend line/channel boundary. Entry point is $1.67, with a protective stop at the swing low of $1.52. My exit for this position would be just short of the downtrend line; optionally, sell half your position just below the trend line and take some profit off the table, set a 5 period 2 ATR stop below your exit price, then see if price continues higher and simply trail your stop.

FPRX has been in an ascending channel for some time now and looks ripe for a rebound to the upside. My entry position would be $51.67 with a protective stop at $48.69. Primary exit would be just below the mid-channel (thin dashed line), with a 5 period 2 ATR trailing stop below that should price carry higher.

OXM appears to be in a rather sloppy channel, but one thing that is clear is that the $60.40-ish zone is very strong support/resistance. I’d enter a position here at $60.68 with a stop at the previous swing low of $60.28. I’d exit half my position at mid-channel, set a 5 period 2 ATR stop there to protect my gains, and exit the remainder just below the top boundary.

SCYX is in a nice rising channel. Entry would be at $3.37, with a protective stop at the swing low of $3.10. As with the other examples, I would exit half my position mid-channel, set a 5 period 2 ATR stop, and exit the rest just below the upper channel boundary.

Similar to OXM, above, WK is a support/resistance¬†strategy based on the support at the $13.00-ish zone. Entry is at $13.31 with a protective stop at $12.65. I’d take off half my position at $16.00, set a profit-protecting stop as in the previous examples, then exit the remainder at $18.00.

Note: I enter positions with buy stops and leave them in place for two days when they are set to automatically expire.

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