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Saturday, June 28, 2014 

Stocks to Watch for June 30, 2014

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Onconova Therapeutics Inc (NASDAQ:ONTX) is lining up for a serious bull run and it has the potential to become one of the most explosive breakout play opportunities of the month. Friday was a very strong accumulation day. It had a great move on the upside and closed at $5.35, up $0.28 on very high volume. The stock is setting up to break out and has one more level to go, which is $5.40. A break above this resistance should at least push the stock to $7.31 per share where the 100-day exponential moving average is. I'm expecting a very big day again on Monday because there is a major short position built up in ONTX and they are screwed going into next week. I'm looking forward to seeing them crushed. Watch the stock closely because once it breaks through, it will run fast. Investors can hold the stock with a stop at $4.78.

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VirnetX Holding Corporation (NYSEMKT:VHC) finally broke out of an ascending triangle last week and now is trading above the crucial 200-day EMA. Technical indicators are giving favorable signals as the stock trades above all the major EMAs and momentum indicators are also still showing upside potential for further gains. The stock hit a high of $18.57 on Wednesday, which is resistance for the continuation move.

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Rambus Inc. (NASDAQ:RMBS) is in a consolidation mode after appreciating over 30% in June. It might be just working the overbought levels. On watch.

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Amkor Technology, Inc. (NASDAQ:AMKR) saw significant correction and looks like next stop will be 50-day EMA. I have highlighted the next support on the daily chart. The momentum readings are also pointing to more downside.

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Netflix, Inc. (NASDAQ:NFLX) I see divergences on daily, it has failed 3 times at the $450 level. If the stock price breaks drawn support line and the 13-day EMA which is same as support line (435), we can see some down movement IMHO.

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AOL, Inc. (NYSE:AOL) As you can see, this stock has clearly been showing relative strength in the last couple trade sessions. If it breaks the key resistance line of 40.09, it should easily go to next price resistance around 44. The momentum indicators are also not overbought on daily, implying scope for further upsides.

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Twitter Inc (NYSE:TWTR) There is nothing bearish about this technical chart, but in my opinion we could be setting up for a pullback here. It is expected that the 42 level which coincide with the 100-day EMA might provide some resistance and the stock may struggle to go further up. Next week should provide further clues.

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One penny stock to keep an eye on : Lithium Exploration Group Inc (OTCMKTS:LEXG) The stock traded higher on Friday, as the stock received a "Strong Buy" rating from analyst Larry Oakley. He believes the stock worth $2 ( Here is the report ). "I believe it may soon achieve at least a 500% increase of its current share price. My relatively short term price target is $2.00. If one looks ahead at a combination of some of the company’s capabilities, I see the possibility of a long-term upward move to over $20 per share". You know, this stock is part of my portfolio.

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 43 year old Independent Trader using proprietary technical analysis with more than 18 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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