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Saturday, February 14, 2015 

Stocks to keep an eye on February 17, 2015

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Net Element International Inc (NASDAQ:NETE) had a good move on Friday. The stock broke and closed above the 50-day EMA for the first time since Nov2014 on expanding volume. It was the second heaviest volume this year. The stock could touch an upside target of $1.95/2 in the short term. The technical daily chart shows the stock is now back to uptrend and with MACD crossing to the upside we may see more upside. The ADX is also indicating a strong bullish outlook with +DI on top of -DI. Friday’s high was $1.31, which is resistance for the follow through move on Tuesday. If we see follow-through tomorrow it might run hard. Next major resistance lies at $1.56. Folks, always keep a trailing stop loss to book profits in case to exit any reversal in the trend. Technically speaking, the stock is now painting a short-term Bullish picture.

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USA Technologies, Inc.(NASDAQ:USAT) caught my eye last month when price broke out of a solid looking chart pattern near 1.90/share and have been watching patiently ever since. The stock is currently breaking out of a base formation and the probability is that it will move up sharply in the next sessions. As I said on twitter i bought shares on Friday and I will add more shares on a move above $2.23.

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Shares of Groupon Inc (NASDAQ:GRPN) were on fire Friday after the company released its financial report. At this level, the stock might retest its recent highs located at $8.43. Momentum indicators are slightly bullish now with RSI inching away above the middle level. The strongest sign of a bullish momentum is the MACD indicator which is currently above the 0 line. Watching for $8.43 breakout. This momentum could push this stock much higher from here, so keep the stock on your radar for Tuesday’s trading day. The support level is adjusted to $7.28

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Rambus Inc. (NASDAQ:RMBS) has been on a remarkable run this month and it does not look like the trend will change soon. As you can see on daily chart, last week the stock finally broke the $12 level again, confirming the break of the downtrend (Red line) early this month. The chart looks Bullish, with both 50-day EMA and 100-day EMA turning up and MACD on top of 0. I would like to see more volume in this rally, but keep the stock on watch on Tuesday nonetheless. As long as the stock stays above all major EMAs, the stock is exhibiting strength.

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The hottest stock of the market right now is Genetic Technologies Limited (NASDAQ:GENE), look at this daily chart Wow just amazing. The stock broke out again on Friday, rallying more than 30% on heavy volume, closing the session at 8.04 well below the highs made in early morning trading. I'm a bit concerned after looking at the chart. The stock is making new highs in this new uptrend while the A/D line is forming a negative divergence. If it reverses next week, you should use tight stops on your long position. This could get ugly on a breakdown below $7. In addition, the stock is very overbought on RSI14 (85). I have no positions here.

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The daily MACD generated a buy signal last week, so keep an eye on CytRx Corporation (NASDAQ:CYTR) for a possible breakout over $3.09.

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BlackBerry Ltd (NASDAQ:BBRY) has been basing around its 200EMA in the last trading sessions but indicators are starting to put in positive divergences. The stock made a nice move on volume Friday. I see stock on verge of breaking up out of this compression.

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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Hey great blog and tweets you send out. Have a question on your technical analysis - why do you choose to use the EMA as opposed to the SMA on your charts. You seem to use the EMA as a large part of your analysis and I was just curious?

Always looking to learn,

jeremy

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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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