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Saturday, June 06, 2015 

Stocks to keep an eye on June 08, 2015

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Bank of America Corp (NYSE:BAC) Last week, the stock broke past a four-month resistance area with force. High volume accompanied the breakout. The upside target of this breakout is $18 but long term investors should expect a much higher return. The 9/20 day EMAs have acted as good support at least up until now. So, as long as support holds, the stock should continue to rally.

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Voxeljet AG (NYSE:VJET) has broken the upper line of a falling wedge, which was drawn during the last two months. Plus, the stock's MACD has also crossed above the signal line, which further confirms that the trend has switched from negative to positive which indicates that a rally is in progress and we should expect a move higher towards $8.72 where the 100-day EMA (pink line) is found. Note: Anthony Gerstein, Director of Investor Relations and Business Development will present at Stephens Spring Investment Conference in New York, NY on Wednesday, June 3rd, 2015, another catalyst for stock next week.

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Voltari Corp (NASDAQ:VLTC) experienced wild swings on Friday. At one point the stock was very over sold at 7.45 and then bounced all the way back to 8.36. I think this was a very important day, as the stock might be indicating the market capitulated at the lows. If Friday’s support holds next week, it could be a turning point for the stock. On the Hourly chart, it was important to see that the stock closed the week above all EMAs. The strong accumulation over the past days has shown funds moving into the company again and moved share prices upward. I'm currently accumulating this stock.

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ExOne Co (NASDAQ:XONE) is approaching a breakout point at the 13.50 level where it closed on Friday. A break above the 50-day EMA would lead to next targets in the 14.9 and then 16 area. The daily technical indicators are showing positive divergences. The MACD has moved above its signal line and the RSI is rising above the 50% level. Plus, the merged 13-day and 20-day EMAs are beginning to show an upward bias. I Really like the look of this daily technical chart...note earnings Jun 11 AMC.


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Gevo, Inc. (NASDAQ:GEVO) seems to be forming a Cup and Handle pattern as per the daily chart. Technically speaking, this is a bullish pattern but confirmation will come only after a break above the handle of the cup chart pattern. A daily close above $4.16 will be very bullish and the price target for this Cup & Handle break out could be around $5.25. In addition, the daily indicators are beginning to turn bullish again. The MACD has just crossed above its signal line and the RSI is back above 50 and pointing higher. Given the potential rosy outlook for biofuels, I am not surprised to see the company pursuing such an aggressive expansion strategy. That's my own opinion. I'm long.

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XOMA Corp (NASDAQ:XOMA) also looks great. $3.67 is an important resistance that once broken will set off a huge run up in price, the 1st target would be $3.97 which is the high of April. Key technical indicators are implying that investors have become more bullish since early May. The setup looks good for an upside breakout. On watch.

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The strong move in Kite Pharma Inc (NASDAQ:KITE) shares was something that I tweeted on Friday's morning b4 the move (Here is the tweet). The stock price broke out of a Bullish flag chart pattern accompanied by strong volume. I think we will see a nice follow through next week. This momentum could push this stock much higher from here. Next resistance is now seen at $66.40.

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On watchlist no trigger yet. TASER International, Inc. (NASDAQ:TASR) continues to consolidate in a very tight range. Long above $33. The stock has been in a nice uptrend for the last three monts and it looks very strong with the Key EMAs going up. There is plenty of accumulation on daily chart. Use the 50-day EMA as your stop-loss.


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Rambus Inc. (NASDAQ:RMBS) The stock is forming another bullish flag on the daily technical chart, which is usually the most bullish of consolidation patterns. Perhaps this is merely a pause in a strong uptrend. Watch for a break of 15.48 to continue the uptrend. Accumulation/distribution chart still looking good.

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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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