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Saturday, April 18, 2015 

Stocks to keep an eye on April 20, 2015

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Gogo Inc (NASDAQ:GOGO) made a new 52 week high last week spiking up to 22.05 and surpassing the previous high set in March. The stock has had a very strong move from the mid-January low and remains in a strong uptrend on the daily charts. Yesterday's drop on low volume should not be interpreted as the start of a sell-off. Might form a cup and handle pattern here. MACD and A/D both signal positive strength and accumulation. The stock is trading above all major EMAs, also a bullish sign.

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Oncolytics Biotech, Inc. (NASDAQ:ONCY) The stock Friday surged 10% or 7 cents to 76c per share on high volume as the company announced that the U.S. FDA has granted an Orphan Drug Designation for its lead product candidate, REOLYSIN, for the treatment of malignant glioma. From a technical standpoint, the stock seems to have broken a falling wedge pattern, which often precedes reversals. In addition, technical indicator MACD is on the cusp of a bullish crossover showing the stock is heading towards a bull market. The 14-day RSI is also back above 50. Yesterday's good news should push stock prices back up. Im long with an initial target of 93c then 1.10.

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Sonus Networks, Inc. (NASDAQ:SONS) has seen a massive drop in share price and I’m starting to see more evidences on charts, supporting the idea that a bounce here is becoming likely. With the daily momentum indicators showing positive divergences I think a push to $8.90 or better could be in the making. Be patient.

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Rosetta Genomics Ltd. (NASDAQ:ROSG) Price targets are rising again and the stock got two upgrades last week, from Zacks ($13) and Cantor ($5.50), both buy ratings and estimates are on the rise. I expect more in the coming weeks. The stock closed the week above the pivot at $3.84. Further strength cannot be ruled out now.

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Second Sight Medical Products Inc (NASDAQ:EYES) The potential for this company/stock is enormous IMHO. From my point of view, their revolutionary products could create meaningful shareholder value in the next months. The company has a dominant patent portfolio with nearly 300 granted patents and over 150 pending patent applications and has no direct competitors in its niche. From a technical standpoint, the bulls remain in control with price trading above all key EMA's while MACD still in a buy setup. Im long.

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ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) The stock resumed a fresh up move after basing for two weeks and seems poised for a breakout above the 12.20 level. The recent high volume activity along with positive crossover of MACD on the daily charts suggest fresh buying interest in the stock. This will be a stock to watch next week.

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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) The stock has been trading sideways for the last few weeks and is showing signs of bullishness. The MACD had a positive crossover last week and the RSI remains in buy mode that supports the positive momentum in the stock. Buy signal: When stock breaks $4.79 on volume.

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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