Metabolix Inc (MBLX) and Corinthian Colleges (COCO) on high alert today

As promised, our opening bell alerts are Metabolix Inc (MBLX) and Corinthian Colleges (COCO).
 
MBLX has a tiny float of just 24m shares, a huge short interest and a hot chart.
 
 
 
There is a very obvious support / resistance area at $0.75
 
Yesterday it pulled back to this area and held support before bouncing. I think this bounce and break out chart pattern could continue today and next week.
 
Because MBLX has a high short interest, covering could continue adding to the momentum higher.
 
About MBLX…
 
Metabolix, Inc. is an innovation-driven bioscience and engineering company founded in 1992. We focus on providing sustainable solutions to the plastics and chemicals industries.

Metabolix is developing and commercializing a family of high-performance PHA biopolymers targeted to the markets for performance additives, including film and bags, and functional biodegradation. Additionally, Metabolix’s biobased chemicals platform utilizes our proprietary “FAST” recovery process to enable the production of cost-effective, high value replacements for petroleum-based industrial chemicals. The Company is also developing a platform for co-producing chemicals and energy from crops.

Metabolix has established an intellectual property portfolio that features more than 500 issued and pending patents across three platforms: biopolymers, biobased chemicals and crops. The Company’s industry-leading intellectual property portfolio that, together with our advanced knowledge of industrial practice, is the foundation of our scientific, technological and manufacturing collaborations.

 

And here’s a bonus for you…
 
I also want you to keep an eye on Corinthian Colleges (COCO).
 
First let me be clear that COCO is in financial strife and could very well be bankrupt in the coming months.
 
But in the interim, the chart is technically oversold, has a tiny market cap & float and is heavily shorted with a short interest of 28% of the float.
 
If COCO gives us a dead cat bounce there will likely be a lot of short covering. If this happens, momentum traders will jump in.
 
 
 
Let me reiterate. COCO is a short term momentum trade only. Momentum may last one day, or it might last several days – just trade the momentum and take gains where you can.
 
 
All the best today and be careful of large gap ups.
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