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Thursday, May 07, 2015 

Stocks to keep an eye on May 08, 2015

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ZIOPHARM Oncology Inc.(NASDAQ:ZIOP) which has been trading in a falling wedge pattern for three weeks, broke out above the upper line and 50EMA today with a gain of 97 cents to 10.50. The move confirms the stock's reversal. Daily technical indicators such as MACD and CMF are also confirming the bullish price action. ZIOP is a short squeeze candidate, with a short float at 35% (equivalent to 11 days of average volume).

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The short-term outlook for Incontact Inc (NASDAQ:SAAS) looks promising from a technical point of view. Stock broke out of its falling wedge pattern on relatively high volume, and the breakout was accompanied by a bullish MACD crossover. Based on today's action, I expect to see the stock move up in the next coming days. Next major resistance lies at 11.60. Long setup.

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MEI Pharma Inc (NASDAQ:MEIP) was added to my watch-list as a possible bottom bounce-play. Daily technical chart is displaying positive divergences on momentum indicators and with the stock in oversold territory, these are the perfect conditions for a short-term rally. This stock can pop big time on any positive news. Stay tuned.

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Gevo, Inc. (NASDAQ:GEVO) traded massive volume on Friday and surged 122%. I will watch the stock tomorrow for a follow through move and have set resistance at $6.13 (200EMA).

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Twitter Inc (NYSE:TWTR) daily technical chart seems to have bottomed for now. The RSI is trying to move up from the oversold zone while the MACD and CMF are starting to turn up, signaling that a bounce is likely.

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Zynga Inc (NASDAQ:ZNGA) After over 4 weeks of remaining below its 200-day EMA, the stock could be in the early stages of a big rally. Today it moved higher, ending the day at $2.80 with strong volume. Next key resistance is now located at $2.90, a break above this level will confirm the bullish trend and the following uptrend will take price up to $3.2 zone.

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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