Watchlist 1/13/18 $AVEO and $SPHS

The strength in the stock market has continued into the new year, keeping me very busy buying stocks and working on my various businesses! I wanted to write a very brief watch list of two stocks I bought on Friday that seem to have some excellent potential in the coming weeks.

Disclosure: There are some affiliate links below, but these are all products I highly recommend. I won’t put anything on this page that I haven’t verified and/or personally used.

These guys have some great articles that you might find useful for trading in this coming year. I also highly recommend signing up for these free stock updates (usually weekly emails with detailed stock watch lists).

I have just 2 new stock ideas for you this week – $AVEO and $SPHS. I am trading these stocks using a swing trading strategy.

Watchlist 1/13/18

$AVEO – I bought this biotech stock on Friday at $2.84. As you can see in the daily chart below it had a pretty good day on Friday, closing above $3. The price movement was very bullish on Friday, breaking through the key $2.9 level. It has held above this, which is a bullish sign.

The swing trade catalyst for me is the scheduled release of Phase 2 Cancer data due out in Feb 2018. The anticipation of this data could lead to higher prices, but I will not hold through the data release. I am looking to sell if the price gets above $3.3 per share. My own stop loss is $2.9. Lets hope this gets some continued momentum next week!

 

$SPHS – I started a position in this company on Friday at $2.3. This is another swing trade into the spring for me, with the upcoming catalyst of Phase 2b initial biopsy data due late in the First Quarter. I like the chart (below) but I am keeping a tight stop loss of $3 per share with a potential sell target above $2.8 per share in the coming weeks.

This is a very speculative play to me but if this breaks $2.5 on news, this could be a monster stock!

 

Thanks to this millionaire trader for alerting me to these plays last week!

 

As always, please make sure you don’t just take my word for it on these stocks – I am usually horribly wrong :).

Wesley.

P.S. If you like these ideas, you can sign-up for free email alerts with these types of trading alerts from millionaire traders! I love the alerts that I get and pass on some of the ones that I play to you guys.

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