New Age Beverages Corp (NASDAQ:NBEV) is acting well despite the fact that marijuana stocks are not doing well as a whole. There must be a deal in the making. I love the way this stock was acting on Monday in this kind of market, jumping 71 cents, or 12%, to 6.65, on 4 million shares. In after hours, it reached all the way up to 6.75, and then pulled back and consolidated. It’s still hanging tough and looks to me like if breaks out above support, it will go to 7, and then 7 1/4-1/2.
Bitcoin Investment Trust (OTC:GBTC), with a 5-wave advance, had a blow-off on Monday, and now it has a long decline down. It has taken it from 38 to 3, and change. That’s more than 90% down. Monday was an usual day for this stock. It was a lousy market, yet up 51 cents, or 13%, to 4.35, on 3.8 million shares. That’s the biggest volume on an up-day since last July. It could be in the middle of a move, so keep an eye on it.
Stocks on the Short Side….
MEDIFAST INC (NYSE:MED) is a techtrader swing that is acting well, down another 6.69, or 5%, to 126.65. on 366,675 shares traded. It broke a wedge and is drifting lower. At this point, it may accelerate lower. Get to and fill the gap at 112.
Mirati Ther (NASDAQ:MRTX) formed a rising wedge right to the trend line and looks like it reversed on Monday on an engulfing bearish bar, dropping another 64 cents, or 2%, to 39.74, on 628,612 shares traded. If the rising wedge breaks, it could lead to a nasty decline to the low 40’s.
Watch video here.