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Saturday, November 28, 2020 

Good looking chart setups to watch next week

Dearest readers,

What a great trading week this past week and looks like plenty of opportunities for the rest of the year. Congratulations to those who have profited on this spectacular week, that is what this blog is all about, if it was not your case, never give up, there are always opportunities. Nothing in this market is easy, but with experience, discipline, instinct, and knowledge you can increase your chances at turning a nice profit. Be humble and the market will show you the way. 

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Tilray Inc (NASDAQ:TLRY) There should be plenty of smiles to go around to everyone after yesterday's chart alert (tweeted at 7.45) not only had a big green day, but was crushing resistance levels like little anthills. I want to congratulate anyone that saw the opportunity in TLRY.  Given the recent presidential elections there seems to have been a direct interest in multiple Cannabis tickers throughout this sector of which TLRY has considerable potential being a part of given recent performance. The technical indicators are looking bullish. The RSI has re-entered its bullish territory, the MACD is positive, and above its rising signal line. A break higher above 8.60 on Monday could spark another round of momentum buying. Keep watch because the technicals are indicating there could be more juice left in this stock, offering up multiple intraday entry points. Long setup on watch.

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Applied DNA Sciences Inc (NASDAQ:APDN) Another stock with a Cannabis angle. The cannabis legalization is directly connected to APDN traceability technology. The company offers Applied DNA Sciences Portal, a software platform that enables customers to manage the security of company-marked goods, DNA Transfer Systems and Cannabis Tracking System for real-time monitoring. Yesterday the stock made a strong move to the upside, closing near the highs. The stock is setting up to break out and has one more level to go, which is $7.25. The technical indicators are looking mildly bullish. The daily MACD is negative, but rising above its signal line and the RSI has managed to move above their 50% levels. The price can head towards the $8 zone. If this zone is surpassed, getting to $10 would be a possibility. The break of this chart pattern could fuel a short-term price spike because the stock technically has a lot of upside potential, so watch it closely on Monday. Don't be fooled by the large sell orders on the screen in a low float play, generally when a big player wants to sell a large sell order they hide or divide the order never expose it on the screen for everybody to see it. Be smart and dont play the stupid Market maker games.

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India Globalization Capital, Inc. (NYSEAMERICAN:IGC) Another name that I alerted yesterday via Twitter for the unusual volume detected. The stock displayed some impressive relative strength with a 30% gain. On the technical side, MACD and ADX all point to an upward trend while RSI is also rising. The stock broke and closed above resistance at $1.75 and should continue to move. The stock hit a high of $2 on Friday, which is resistance for Monday’s move. Keep it on watch.

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Genius Brands International Inc (NASDAQ:GNUS) technically also looks interesting. The $1.58 level is an important resistance that once broken will set off a huge run up in stock, the 1st target would be $2 which is the high of August.

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Canopy Growth Corporation (NASDAQ:CGC) Broke out to new highs yesterday on decent volume. It entered into the overbought zone RSI 76 but remains healthy, so let it cool down then buy it.

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FSD Pharma Inc (NASDAQ:HUGE) Potential breakout play. The break of this major downtrend line next week could be HUGE for this name.

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BlackBerry (NYSE:BB) Yesterday, the stock finally broke out of the range it had been trading in the past couple months with a strong close at $6.15. The stock could now move all the way to 6.89, which is the 52-week high.

If you've ever been curious about one of my favorite trading tools, there's never been a better opportunity to take advantage of this offer. TradeIdeas is offering 25% off for the Thanksgiving week. Click HERE and use this CODE: THANKSGIVING25% (applies to first month or first year purchase). It expires Monday, Nov. 30th. Trade-Ideas is my scanning platform. Have a wonderful weekend everyone.

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, November 21, 2020 

Stocks on my top watchlist for potential swing trades next week

 

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Pizza Inn (NASDAQ:RAVE) broke out of a bottom consolidation yesterday, jumping 15% on decent volume, reclaiming the declining 200-day EMA. Definitely one to watch on Monday. Possible gapper candidate. A growing number of individual cities are locking down partially their citizens again in a bid to curb the explosion in COVID-19 infections, so I think the delivery food sector will start moving again. From a technical standpoint, the stock closed above its 200-day EMAs for the first time in months and all short-term EMAs are turning up. Daily technical indicators are also in bullish zones showing upward momentum. As you can see on chart, if it breaks the 1.10 area a vertical move to $2 is likely.

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Dolphin Entertainment Inc (NASDAQ:DLPN) As you can see on the daily chart, volume is starting to come back and with it some positive price movement. We could be looking at the beginning of the next rally. Could pop over 75c. Daily technical indicators are turning bullish. Let's see what next week brings.

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Waitr Holdings Inc (NASDAQ:WTRH) not only broke the descending channel pattern on the daily chart that has been formed since the price reached the highs of 5.85, it also managed to reach the 3.90 area yesterday. I tweeted a potential big move in this name several times on Twitter last week, especially in the last two days. Any pullback to the former level will provide a buying opportunity for WTRH investors.

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Tilray Inc (NASDAQ:TLRY) Yesterday’s stock action confirmed the strength that appeared the day before yesterday. The pullback seems over on the daily chart. Buying dip is the name of the game now. Cannabis sector is also gaining momentum again. The 7.61 level is the current resistance for TLRY. If the stock breaks above this area, a confirmed buy signal will be triggered and my target will be set around 8.60 initially. I expect TLRY to even reach higher targets. Long setup on watch.

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OLB Group Inc (NASDAQ:OLB) If we look at the daily chart of this recent IPO play we will find a beautiful shape (rounding bottom pattern), a stock that attracts you to buy it. If the breakout above 4.40 (yesterday's high) is confirmed OLB can easily reach 5.2 due to its low float, which is a 20% increase in price. Money seems to be flowing back into the MJ sector again. This company Offers Payment Processing Options for Cannabis and CBD Merchants. As I always say, follow the money and the money looks to be flowing into this small one.

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China Finance Online Co. (NASDAQ:JRJC) Looking at this daily chart, it looks like a cup-and-handle formation, which could be construed as bullish. A confirmed breakout above 10 will lead to a renewed rise as we were expecting with a target around 15. While RSI is signaling a slightly bullish status, the ADX is gaining in traction and pointing highly upwards, signaling an upward trend. After over five weeks of remaining sub $10, JRJC could be in the early stages of a big rally. At some point the trader community will catch onto this. This stock will move quickly, so keep it on your screen next week. NOTE: Yesterday another China KXIN gained more than 100%, as i always say, it's just a matter of time.

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Platinum Group Metals Limited (NYSEAMERICAN:PLG) broke out to the upside of a flag formation on heavy volume, thus confirming its trend reversal. Could be more gains ahead for stock.

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OPKO Health (NASDAQ:OPK) The call options have been very active in this name in recent days, showing a more bullish stance. The 4.05 area is the major resistance for the stock. Those who want to enter the stock are recommended to step in at the breakout on volume. Such a breakout will lead to a strong rally on shares targeting initially the 4.76 level. Long setup on watch.

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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