Picks for 12/16/20

There could be a lot of news coming out today as congress negotiates stimulus deals and the fed meets. The market's reaction to both will have the biggest impact on trading today. I am cautiously watching a few tickers today.

RVP - This stock had another major move to the upside yesterday and has broken above its all-time high. There are no resistance levels remaining. With such a low float 13M shares and such high insider ownership 42% this stock could move much higher. If you look at the insider trading roster you will see that the CEO buys shares nearly every week and has been doing so for years, while insider selling has been very infrequent. I think this goes to $16.25 short term and $20+ longer term.

DAKT - Has moved as predicted and I am in for a long term swing trade. I will add on pullbacks and even intraday dips as this currently has low average volume and could see some unjustified price drops.

FTFT - Is a new name to watch. FTFT is a Chinese, blockchain-based e-commerce company. Yesterday's candle really expanded its trading range with a .45 cent intraday move vs. its ATR of .31 cents. Closing over the 23.6% fib level is encouraging and I like the proximity to the POC line at 2.19 (represents Point of Control) it's the point where the most shares were traded since Sept 1. I want to see this hold the Fibonacci level at $2.30 for entry. Also keeping watch on the 9ema to stay above the 20ema. I will go long with a 1 ATR stop until this moves in my favor. I like Chinese stocks and blockchain for 2021 so this could be a nice swing trade.

Also watching: SOLO, XERS, WTRH, and CNDT

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