Stocks like NEI, ACLS, AEN, MTSN, GTHP, LWLG, and ZGNX are already up quite a bit and many are overbought so it’s particularly important you know and understand both daily and intraday technical analysis to score these swings. Continuation patterns are what to look for here. Normally I try to position before the move like I did with HDY recently at $2.36 before it ran about 24% five days later for $5,718 profit, however, sometimes swimming with the current is an easy way to grab quick profits too.
Swing trading, for those of you who are unaware, is a speculative activity where stocks are repeatedly bought or sold at or near the end of up or down price swings caused by price volatility. A swing trading position is typically held longer than a day, but shorter than trend following trades or buy and hold investment strategies that can be held for months or years.
Many of the charts below will be short lived opportunities, however, back-testing on this filter shows some push forward considerably despite being overbought. The following stocks could deliver some decent profits moving forward if they continue so here’s what I’ll be watching for.
Network Engines Inc (NASDAQ:NEI) designs and manufactures application platforms and appliance solutions on which software applications are applied for enterprise and telephony information technology networks.
Axcelis Technologies (NASDAQ:ACLS) designs, manufactures, and services ion implantation, dry strip, and other processing equipment used in the fabrication of semiconductor chips in the United States, Europe, and the Asia Pacific.
Adeona Pharmaceuticals (AMEX:AEN) operates as a pharmaceutical company that develops medicines for central nervous systems.
Mattson Technology (NASDAQ:MTSN) designs, manufactures, and markets semiconductor wafer processing equipment used in the fabrication of integrated circuits for the semiconductor manufacturing industry worldwide.
Guided Therapeutics (OTCBB:GTHP) a medical technology company, together with its subsidiaries, develops and offers products for the non-invasive cervical cancer detection and diabetes markets.
Lightwave Logic Inc (OTCBB:LWLG) is a development stage company, focuses on the development, production, and commercialization application specific electro-optic polymers and non-linear all-optical polymers for various applications in the electro-optic device market.
Zogenix (NASDAQ:ZGNX) is a pharmaceutical company, engages in the development and commercialization of products for the treatment of central nervous system disorders and pain.