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Saturday, October 17, 2015 

Technical Setups to watch next week

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Twitter Inc (NYSE:TWTR) had a strong bullish momentum on Friday after Steve Ballmer reveals 4% stake. The stock closed the day with a gain of 4.85 per cent at 31.15 on strong volume after touching the day's high of 31.40. From a technical standpoint, the bias is bullish in nearest term. Key resistance is seen at 31.50. A clear break and daily close above this area could trigger further bullish momentum testing 33.51 or higher. The stock stayed above the 50-day EMA and the MACD and RSI still in buy mode. Long setup.

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Aerie Pharmaceuticals Inc (NASDAQ:AERI) attempted to push lower on Friday bottomed at 20.50 but quickly whipsawed to the upside and closed slightly below the key resistance zone. A clear break and consistent movement above the 21.43 level next week could trigger further bullish pressure testing the 25.50 area. MACD is about to trigger a new buy signal with Slow Stochastic pointing upwards. Long setup on watch.

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Opexa Therapeutics Inc (NASDAQ:OPXA) is quietly gaining momentum. The stock has posted an impressive two day rally and continues to garner investor interest. Daily technical chart shows that it closed the day above its 50-day EMA, while momentum indicators crossed their midlines to the upside, supporting further advances. The increase in OBV suggests buyers are accumulating stock. It could initiate a sharp rally, back to $4

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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) Will watch to see if it can break this horizontal resistance line next week. Key momentum indicators are trending in a positive direction. The bias remains bullish but the 2.54 area needs to be clearly broken to the upside to continue the bullish scenario. The immediate support is seen around 2.24/2.26.

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Chesapeake Energy Corporation (NYSE:CHK) surged in the final hour of trading and closed back over the 50-day EMA. As long as the stock can remain above $7.90, I like the stock. The accumul/distrib line is starting to curl upward (accumulation) which should eventually lead to price increases. On watch.

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Juno Therapeutics Inc (NASDAQ:JUNO) A nice looking bullish pattern on the daily chart. It will be interesting to see if next week the stock can continue its upward momentum. The key resistance level to watch is at 51.70. Above this level could test 57.6 next.

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VirnetX Holding Corporation (NYSEMKT:VHC) has been consolidating almost sideways trapped between the strong resistance around the 4.20 price level and supported by the rising 20-day EMA. Its momentum indicators are showing positive indications and price bars are trading above short-term EMA's, denoting the current positive tone may turn into a new uptrend. Use the rising 20EMA as your stop loss. On watch.

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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