24/7 Market News Memorial Day Weekend weekly Wrap-up

(24/7 Market News) It looks like many of the listings that popped up on our screens last week were at or near their 52 week lows and many of them are following through nicely, plus many new listings caught our eyes.

We caught Redbox Entertainment Inc. (NASDAQ: RDBX) very early in its move last week and, as expected, it’s been a trader’s paradise, for scalpers and swings, since then. This week it averaged about two or three moves higher and one short run, so this one’s a lot better for the traders than it may end up being for the buy-and-holders. Over the past two weeks it’s been mostly higher highs and higher lows, and it looks like it’ll be in play next week.

Beachbody Company, Inc. (NYSE: BODY) has had the perfect response to hitting its 52 week low, 91 cents, on May 12. In fact, its ten day chart looks almost too perfect, but Carl Daikeler’s stock purchases helped the cause, as Beachbody’s Co-Founder, Chairman and CEO purchased more than 800 thousand shares over a three day period (184,613, 308,036 and 326,325 shares, respectively) during this run.

Beachbody closed this week at $2.16, up $0.15 (+7.46%) on 1,599,625 shares traded today. If it can break through the $2.25 resistance, with authority, it appears that just a little past the $2.50 range is the next inflection point and that’s one from a few months ago, which doesn’t appear to have too much volume, so Beachbody may be in play this summer.


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