We had several strong moves today: DGTL, MEG, RFM, JGS, NI and surprisingly, even EDC. Let's go through them one by one.
EDC failed to breakdown convincingly below 4.65. It went to as low as 4.55 but it was able to close at 4.75 today. MACD and stochastics look bullish in the short-term. Resistances to watch are the 4.80 and 5 level. It may continue to move sideways for now.
DGTL was interesting. I guess everyone who wanted out on DGTL already did so yesterday. It's pretty obvious the buyers overwhelmed this one. A break above its previous high of 1.76 shouldn't be surprising, given that it is in an uptrend. Buy the dips? Support levels may be found at 1.64 and 1.58.
MEG continued to go higher today and with heavy volume to boot. A lot of foreign buying on this one too. Personally, I will be unloading as it goes up. In fact, I sold some this morning at 1.38. I had this one even before it broke down to as low as 1.16. Of course, I'll take the opportunity to get out. But I am also waiting at lower levels...
RFM closed at the highs today. In fact, it even broke above its previous high of 1.22. Initial target of 1.28 remains.
And finally, JGS. It hesitated a bit today. It retested its support at 16 but was still able to close the day at 16.75. For me, this is a buy as long as support at 16 to 16.25 holds. Here are my targets: Range target is at 17.50, channel resistance at 18 but I wouldn't be surprised if it is able to extend to 19.
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