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Saturday, May 30, 2015 

Stocks to keep an eye on June 01, 2015

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The daily technical chart pattern of ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) has been consolidating within a falling wedge pattern that has bullish implications. A breakout is needed to end this large consolidation and resume the uptrend. At this point Im inclined to mark a key resistance zone around 10-10.2. A move above this area, would break the upper trendline and the resistance zone. If a breakout occurs, we could see an acceleration of the bullish momentum and move toward the 11.50-12.13 area. Daily technical indicators are looking bullish, MACD and RSI are showing upward momentum. On watch.

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ITT Educational Services, Inc.(NYSE:ESI) surged 81% on Friday on one of the heaviest volume sessions this year, with 11.7 million shares traded. That is nearly 11x the average. Let's keep things simple as always! Could history repeat itself ? After looking at this daily technical chart and reviewing the price action, I came to the conclusion that we could see a surge like the one on the chart from mid-October of 2014. The small float and the high short interest could fuel another massive spike higher once the 50-day EMA is taken out to the upside. RSI has lot of room and MACD is crossing up.

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Celladon Corp (NASDAQ:CLDN) The rally in the price has broken the downtrend line on Friday, which is a buy signal. The stock could see now a significant bounce from this level. On the technical side, MACD and Slow Sto all point to upward trend while RSI is trying to break above its 30% level, passing into neutral territory. Plus, the stock broke through its 9-day EMA for the first time since April and should continue to move. CLDN has a lot of upside potential, so watch it closely on Monday.

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Sprint Corp (NYSE:S) is showing signs of a potential upside recovery. Daily MACD has stabilized and is about to cross over its signal line. A crossover would be nice and bullish. The June $5 call options have been active. Next week watch the resistance at 4.77. A close above will be bullish and may test 4.88/4.95.

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Microsoft Corporation (NASDAQ:MSFT) has been consolidating in a bullish pennant over the last five weeks. Play the break of the pattern.

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Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) has gained momentum recently and the stock rebounded about 10% in the past couple of trading sessions on increased volume. On Friday, the stock closed near its critical breakout point of $10, which may be broken out next week. Looking at the daily technical chart the MACD momentum is rising and RSI is on a strong uptrend, which when combined with the strengthening MACD could spell a strong move for the stock. If it crosses the $10 level, the stock has potential to gain 10-12%.

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CTI BioPharma Corp (NASDAQ:CTIC) could be in the early stages of a technical breakout. Technicals are showing bullish signals supported by rising MACD, ADX and RSI on the daily charts. For now, expect a run up to next resistance area around $2. If the stock is able to cross it and sustain above it, then it might go to $2.40. Keep it on your watch list going forward.

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I continue to support the idea of a significant rally on shares of Oasis Petroleum Inc. (NYSE:OAS), probably even above the February highs. The bulls remain in control as long as it continues consolidating its recent move. We still need to see a break and close above 17.83 or 100EMA to confirm a continuation to the upside with a next target in the 20 area. Only a break back below the 15 would invalidate this bullish outlook.

Have a fantastic weekend.

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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