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Saturday, October 17, 2020 

Big, Mid and Small caps to watch next week

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Thermogenesis Holdings Inc (NASDAQ:THMO) Get ready for take-off. This company has built up a strong COVID news profile and this has bled into its technical setup. The biggest catalyst though is THMO’s trading price. At less than $3 it is being touted as the discounted play of the month so far. The strong mix of pattern and positive divergences on key momentum indicators has given the stock very strong upside potential. I suspect it won't be off the list of many potential buyers. The bounce potential in the play is huge, relative strength is pretty much neutral and liquidity is quite strong. Most importantly, it has been forming a large falling wedge pattern, in play for almost 3 months confirmed by the bounce at the bottom a few days ago, but now it seems like THMO managed to close outside of it and will start a new market cycle possibly. A look at the oscillators still indicates an overall bullish setup with stochastic and RSI both indicating strengths. Trading volumes have been strong since the past few trading sessions, which is also a clear indication of higher participation in the stock. This could break north so be ready.

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After a long stint stuck under $2 per share, ADiTx Therapeutics Inc (NASDAQ:ADTX) finally broke out to the upside with some authority. I believe there are still plenty of profits on the table for the stock and that’s why I'm bringing it to your attention once again. It closed up over 12% on 4M shares traded, one of the highest-volume days of the year. Long positions can be considered with a stop loss of 1.84 on a daily closing basis. Initial targets are 2.84 and 3 From a technical perspective the MACD is rising in negative territory and RSI is again moving upward.

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Boeing (NYSE:BA) The declining 100-day exponential moving average has been a strong wall over the past months, but it's likely to be broken soon. BA needs to take out $173.4 with vengeance. The break of the resistance line with heavy volume should be the next buy point. The stock is setting up for a strong move soon. Check out the volume on the daily chart as it approaches the top. One to watch next week for sure.

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Catalyst Biosciences Inc (NASDAQ:CBIO) has been on a remarkable run in the last trading sessions. The long-term trend is turning positive as the stock is back above the 200-day exponential moving average. However, since RSI is approaching an overbought level there may be a chance of short correction and for now $6.50 level will be hard to break.

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Hertz Global Holdings Inc (NYSE:HTZ) Trading range for the next trading session is seen between 2.30-2.75 and either side break out will give clear direction to the prices. HTZ will move quickly, so keep it on your screen on Monday.

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XpresSpa Group Inc (NASDAQ:XSPA) stock is backtesting both its short-term EMAs and recently broken uptrend line. If the stock can decisively break 2.25, it could run to 2.55-2.63 before a possible test of the recent highs. Bulls will note that the stock is still quite oversold, but the stock will need to break and hold its 50-day EMA in order to set the stage for a move higher.

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Beasley Broadcast Group Inc (NASDAQ:BBGI) Despite the slow market action on Friday, BBGI's stock performed well relative to the whole market. From a technical standpoint, it looks like a bottom formation here. A breakout over $1.41 with strong volume would send this flying. Long setup on watch.

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Gogo Inflight Internet (NASDAQ:GOGO) is coming up to a big level, as the stock is near its recent highs around 11.25. I'll be watching this stock closely next week as I expect to see a strong move once the stock breaks through resistance. A move past $11.25 would be a strong indicator of a further uptrend in the stock. The technical daily chart shows a continuation of the uptrend with MACD and RSI in the Bullish areas. On watch.

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Lazydays Holdings Inc (NASDAQ:LAZY) stock hit a new high and continues to draw interest. I would keep a close eye on this stock going forward it may make for a great trade. As long as the stock stays above $16.26, the bullish scenario is still intact. From a technical perspective, the chart shows very strong bullish signs. The stock is trading above all major EMAs with both moving average pointing upwards. Additionally, the accumulation/distribution line still shows the stock is on the positive swing. Friday’s high was $17.69, which is resistance for the follow through move. If the stock can break through this level, expect to see heavy volume drive the stock higher. Long setup.

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ProPhase Labs Inc (NASDAQ:PRPH) broke out and never stopped all day. There is a good chance the stock will continue to move up. Could squeeze over 7.49

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During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog twitter and newsletter, so you can receive my trade ideas and stock news in real time.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting AC Investor Blog.

AC

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Saturday, October 10, 2020 

Technical Setups to watch next week and my Trading rules

 Dearest readers, 

I continue to receive many emails from  people asking me which books or sites I would recommend to learn about trading. To be transparent and direct, i can't find any book that could help you in this environment of uncertainty. In reality, there is no such thing as a perfect trading model, simply because the market is so dynamic and unpredictable in nowadays. However, I can share with you my trading rules.

First the charts to watch next week, then the rules.

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Adamis Pharmaceuticals Corp (NASDAQ:ADMP) finally broke the upper line of the ascending triangle pattern last week on strong volume accumulation. This is a good sign for a continuation of the trend. Overall, it looks bullish. A measured upside technical target after the break of the ascending triangle formation points to around 1.13, but when you combine the trend/momentum with the very strong bullish volume action on the daily chart, a test of the highs of 1.51 should be taking in consideration in the coming sessions. From a technical standpoint, all three major technical indicators are in bullish zones. Upward momentum on MACD looks strong and the RSI is also showing strong upward momentum. Let's keep an eye on it.

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Workhorse Group Inc (NASDAQ:WKHS) had a big surge in price and volume in September when stock price doubled in just 3 weeks. The stock has consolidated over the last couple of sessions and yesterday it broke the downtrend line to the upside on volume, so for aggressive traders like me, this can be a buy already. The stock hit a high of $27.11 on Friday, which is resistance for the follow through move. Charts on all time frames are bullish. You should watch this stock closely next week.

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Neovasc Inc (NASDAQ:NVCN) could be in the early stages of a technical breakout. Daily momentum indicators are showing bullish signals supported by rising MACD and RSI on the charts. On October 27 the FDA will hold a circulatory system devices panel meeting to review the premarket approval application for NVCN’s Reducer device. That catalyst should push the stock prices up even higher, which could give Neovasc stock the fuel to keep rallying.

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Electrameccanica Vehicles Corp (NASDAQ: SOLO) Daily technical chart is showing signs of a possible turn around. In terms of technical indicators, the RSI is starting to rise in the oversold zone while the MACD is crossing above its signal line. Plus, the rising 200-day exponential moving average has held the stock higher since the beginning of September and offers strong downside support. The trend is expected to begin the upwards movements. If the stock can break through $2.7 resistance next week, we should see a strong upside move. SOLO will move very quickly, so watch the stock closely.

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Allied Esports Entertainment Inc (NASDAQ:AESE) dropped from over $2.80 a share to $1.2's in a few weeks time. It seems to have found a strong support while money flowing is very positive and rising (smart money). Daily technical indicators are beginning to turn bullish. Let’s see whether the stock can gather enough momentum to break through $1.40 next week. Great bottom play. I took a big position for a bounce.

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Cancer Genetics Inc (NASDAQ:CGIX) I remain firmly behind this stock. I think this stock is worth accumulating in anticipation of a big move at some point. A break through this 4.75 area could accelerate it higher.

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Genius Brands International Inc (NASDAQ:GNUS) is building a nice base for take off. The area comprehended between $1.45 and $1.5 represents a strong resistance for shares. A close above this key resistance area would have positive implications and could drive the stock much higher. The RSI is gaining momentum and MACD is still showing a positive divergence. Keep the stock on your radar.

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TOP Ships (NASDAQ:TOPS) is another penny stock I am watching closely. If it clears resistance at $1.30, the move may be powerful. Let's keep an eye on it as I think momentum will pick up.

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I have Professional Diversity Network, Inc. (NASDAQ:IPDN) on my watchlist again. It may be ready to break out of this bottom setup formation. Potential swing long above 1.16 Low float stocks remains very HOT.

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Potbelly Sandwich Works (NASDAQ:PBPB) broke out in a big way Friday on decent volume. I think we will see a nice follow through next week. A break of $4.3 with force might give room to 4.63 then 5/5.05 area. MACD triggered a new "Buy Signal" for the first time in weeks.

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ReneSola Ltd. (NYSE:SOL) broke out to new highs on high volume. The uptrend remains intact and signals further bullishness on this stock. Daily technical indicators are bullish. Buyable on any pullback to pivot.

Based on my experience over the years, here are some basic trading rules that should be taken always in consideration for trading in order to become a successful trader in the stock market.

1 - The trend is your friend, so never go against the trend.
2 - Keep your losses small. Golden rule: Cut losses short. Let profits run.
3 - Use stops. The stop loss should be placed a few cents below the supports and not at the same level (i don't use SLs for low float or penny stocks).
4 - Learn the basics of fundamentals, charts and technical indicators.
5 - The good trader is one who makes consistent gains, so don’t be a greedy trader, appreciate the small and the big gains.
6 - Do not fear the market. Be always confident in your trade decisions.
7 - Never buy what you do not want, because you think it is cheap.
8 - Always be conscious that the loss may arise and you should be prepared for that to happen. Open mind.
9 - For large positions, you must have total control of the market never losing sight
10 -Volume is a leading indicator, so play the breakouts using the volume as support of your decision.
11 - Chart breaks without volume could be a trap and the probabilities of succeeding are low
12 - Do not be hasty to buy or sell a stock, every day there are new opportunities to make money. Being patient is the key to the success of any trader.
13 - Only believe fundamentals as long as the technical signals follow.
14 - Trading very speculative stocks is a frequent mistake.
15 - Do not trade positions too large relative to your available capital.
16 - Do not invest all your money in one company. Your portfolio must be diversified.
17 - The Greed to pick tops or bottoms is a usual error. Wait for the perfect and confirmed signal.
18 - Do not make trading decisions based on a story you saw in the morning paper. The market many times has already discounted the information.
19 - Review your missteps to improve your skills

NOTE: With patience and discipline, you can take much more from the stock market than you ever gave. Trading stocks is not easy for beginners or professionals, it is really very hard and requires a lot of attention and knowledge. If stock trading was easy, everyone would be doing it. You can be successful at the stock market, with patience, discipline and a good trade set-up. The key objective is to make money and not lose it.

During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog twitter and newsletter, so you can receive my trade ideas and stock news in real time.

Disclaimer : This is not an investment advisory, and should not be used to make investment decisions. Information in AC Investor Blog is often opinionated and should be considered for information purposes only. No stock exchange anywhere has approved or disapproved of the information contained herein. There is no express or implied solicitation to buy or sell securities. The charts provided here are not meant for investment purposes and only serve as technical examples. Don't consider buying or selling any stock without conducting your own due diligence.

Thanks for visiting AC Investor Blog.

AC

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  • I'm a 46 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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