IT’S TACO TUESDAY
Lebron James is famous for his family’s taco Tuesday tradition.
He also happens to be an NBA basketball star.
Well, today is Tuesday, which means if you’re out of sour cream there’s not much time left to get some.
I’m going live on Money Morning LIVE at 10:30AM ET to help you get some last-minute taco money, so you can eat some tacos with your family.
PENNY HAWK HIGHLIGHT: NLST
Netlist, Inc. (OTCMKTS: NLST) is a 21-year-old company that manufactures and sells computer chips (aka semiconductors) and computer memory systems.
I don’t necessarily love the technology sector.
But I do listen when the data tells me a stock is likely to move higher.
That’s what’s happening right now with NLST.
I’ve been tracking this stock for months and the technicals show that right now is the time for us to get in.
LET’S GET TECHNICAL
A lot of great things are happening right now.
First and foremost – volume is on the rise.
Daily volume is starting to edge higher which indicates that “the crowd” is starting to get active on this name again.
We see it in the numbers.
NLST has broken past its 50-day moving average, which is now transitioning into a bullish trend.
I’m also seeing shares start to break out of a volatility throttle as NLST volatility bands were at some of their smallest spreads in the last three months.
All of this adds-up to a potential breakout that targets a move to $9.00 and higher.
ACTION TO TAKE
Buy NLST for a limit of $6.50. Add a 7% trailing stop.
For even more trading ideas, I recommend you check out the Night Trader chat room.
Night Traders are posting their wins, and strategies, inside the chat room and it’s a great place for you to talk shop with like-minded people.
Until next time,
October 19 2021