The market has been all over the place this week, with the Dow screaming around like a runaway mine train.
Before we look at three stocks I think should be avoided – let’s look at the three stocks that I thought had been unfairly sold off and could have presented some trading opportunities first.
Reach
Reach’s share price is almost flat. Further downside was seen only for the stock to snap back upwards. In a week where the market tanked I see this as further evidence that this is a strong stock, and so it stays on the watchlist to trade long.
GAN plc
With GAN, the hammer identified last week was the signal for a strong surge this week with the price tagging 165p. Hammers on heavy volume are a good reversal indicator, and with the market rising on Monday GAN also saw the benefit.
Volume shows interest in the stock, as for every seller there must be a buyer, and so heavy volume hammers are candles I keep an eye out for.
Sylvania Platinum
The positive market also saw a boost for Sylvania Platinum. It’s nicely above the price published last week,…
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