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Saturday, November 28, 2015 

Biotech Stocks to Watch Next Week

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Lion Biotechnologies Inc (NASDAQ:LBIO) finally broke out of a triangle pattern to the upside last week. The close near its high on Friday should bode well for the stock in the coming week too. From a technical standpoint, the stock is now trading above all the major short-term EMAs and the MACD finally triggered the buy signal indicating that a new upward cycle has begun. The stock is now going to test the resistance level at $7.92 which is the 200-day EMA.

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Esperion Therapeutics Inc (NASDAQ:ESPR) stock is coiling up in a tight pattern for a move higher. I have highlighted a potential ascending triangle formation which if confirmed would project a target around $35. Also take note that on the daily time-frame the MACD has been moving up and the daily slow stochastics and RSI are both rising, indicating bullishness. Another good point of interest is the high amount of shorts in the stock. Could see a short squeeze possibly to >$33 once the gap is reentered. Watching over 29.5 for a trade. ESPR will move very quickly, so keep a very close eye on the stock.

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We finally got the breakout in Repros Therapeutics Inc (NASDAQ:RPRX). Shares rallied past resistance of $1.98 and hit my trigger to open positions. I'll be watching the stock on Monday, looking for a follow through move.

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Valeant Pharmaceuticals Intl Inc (NYSE:VRX) is flagging right here. If we get a breakout from that flag, this stock could see higher prices quickly. I'm using the declining 20-day EMA as resistance. Once the stocks breaks through, we should see a heavy increase in buying. The daily technical chart above shows the momentum indicators have turned up.

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ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) The stock has been one of the strongest stocks the past month as it has traded from $8.66 in Ocotber, up to $14.93 in mid-Nov. The stock has pulled back to the $12.5-13 range and seems to be setting up for another upside move. It was flat for most of the week until it broke out of a triangle formation on Friday. Immediate resistance is at 13.64 (yesterday’s high). A break above that area could trigger further upside recovery testing $14 area. Watch ZIOP on Monday.

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The short-term outlook for Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) is bullish. Fresh long should be made only when the stock closes above $2.23 ( 50-day exponential moving average ) with an up candle. We need a consistent move above this key resistance line to continue the bullish scenario testing $2.68 (EMA100).

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Clovis Oncology Inc (NASDAQ:CLVS) closed at $32.22 with a gain of 10.49% over Wednesdays close. Congratulations to everyone who profited. I alerted this stock to my twitter followers & readers several times last week before crowd when it was trading around the 27 level. Traders who saw the gold in my alert and took advantage of CLVS 20% climb, then congratulations. This is just another good example of how stocks can rally after they have fallen sharply ;) I sold around $32 as i mentioned on twitter.

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KaloBios Pharmaceuticals Inc (NASDAQ:KBIO) At current levels this stock is pure gambling and I prefer not to gamble. There is too much volatility and the risk is too high in my opinion. Just be careful guys.

Enjoy !!!

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 41 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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