Stock Watch for October 7, 2019



TTNP had a nice run during last Friday's trading session. From 0.27, it gained over a 100% to an intraday high of 0.58 and closed at 0.44. Although this is not on my stock watch, we can learn a lot from its movement. From a technical standpoint, in the 5min chart, the stocks moved sideways for over 4 hours to what looks like a triangle chart pattern. You will notice how smooth the consolidation is and when the peaks and troughs of the range started to get narrow, the price was bound for an action. When the stocks had nowhere else to go but to clear the range, since the overall trend bias for the intraday chart is upward that's where the price decided to advance. However, in some occasions, a breakdown can occur with such setups. Then when the resistance area, primarily 0.39, was cleared out, TTNP took off.


REAL, during last Thursday's trading session, found some footing around the resistance-turned-support and ended the day with a bullish candle on the daily chart above. Last Friday it had continued its climb. Also, on the 5min chart posted, take notice how the stocks move in channels. The price could continue to move this way but the channel could also get broken on either direction. If this continues to go up, there could be some selling pressure around the 22.50 resistance area. While on the downside, the area of support could be around the 17.50 level



LPG could be forming a 1-month rectangle formation within a 6-month ascending channel. By the looks of the chart, there could be more upside bias if the 11.00-11.20 resistance area gets cleared out. If it does, the next hurdle could be around the 12.00 marker. On the flipside, 9.90-10.10 could be the support. If that doesn't work, the next stronghold could be 9.50.


KOOL has been on a constant ascend from 3.00 early September to a high of 7.00 at the end of the same month. It closed at 6.51 during last trading session and could be setting up for another move higher based on the chart. The immediately hurdle on the upside could be the recent high of 7.00. If that breaks, 7.50 could be next. On the downside, 6.00 could be the support. If that doesn't hold, 6.80 could be the next one. 


I posted about FRAN last week (check here) and mentioned it could be poised for another run up based on the chart. It actually could be forming a pennant formation. A breakout from this said pattern could immediately drive the price to 16.35. If that marker gets cleared out, the 19.49 recent high could be the next hurdle. On the flip side, the immediate support could be 13.25. If that breaks, 12.00 is next.