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Sunday, November 01, 2015 

Stock watchlist for the week of November 02, 2015

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XOMA Corp (NASDAQ:XOMA) I used the pullback in the stock price to add more to my portfolio using the rising 20-day exp moving average as stop-loss. Seems like it is forming a cup and handle bottom pattern on daily, which is a bullish formation. Plus, momentum indicators are bullish with the RSI inching away above the middle level and with the MACD rising in positive territory. Any close above $1.43 could lead to a substantial gain in shares. Last week, Wedbush’s Liana Moussatos reaffirmed the price target of $6 with a Outperform rating for the stock. Keep it on watch.

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Last week was a little tumultuous for AK Steel Holding Corporation (NYSE:AKS), but it ended very well. The stock fell hard on an analyst downgrade but their earnings report was so positive that the stock rebounded firmly up off the 2.25 danger zone and closed the week back over the 50-day EMA on high volume. Additionally, i saw unusual bullish options activity Friday. The surge in call options activity could signal more gains for the stock in the next few sessions. From a technical standpoint, MACD has a bullish crossover and the bullish crossover in the ADX chart adds to my conviction. Momentum oscillator RSI is also trading above 50 which signals the bullish trend further. This stock should be on your watchlist.

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Echo Global Logistics, Inc. (NASDAQ:ECHO) is a potential breakout play. Momentum picking up with MACD climbing and RSI rising. Breakout watch over $23.98

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Vringo, Inc. (NASDAQ:VRNG) made a strong upside reversal. The stock broke out and never stopped all day on Friday. There is a good chance the stock will continue to move up. If the stock can break through 39c, we should see it move up to 55c. I won't be surprised to see a similar move like back in July.

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Alcoa Inc (NYSE:AA) looks like it wants to make an upside move. Things to focus on daily technical chart is the steady increase in volume last week. It could have marked the end of the slide and beginning of bottoming. Although short-term EMAs are falling, the rising Slow Sto shows the stock is probably now in recovery mode. A close above $9.13 would impart bullishness and would help the stock move to the 9.61-9.75 area.

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Finisar Corporation (NASDAQ:FNSR) Consolidating / basing here after clearing the descending trendline over a month ago. I am taking long positions hoping that this stock has reached the bottom. There is something important to point out in this daily technical chart, the volume has been high on up days and low on down days. which could mean that a reversal may be imminent. On watch.

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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) looks to have finally hit bottom, as the stock bounced strongly on Friday after its recent weakness. With the strength the stock showed at the close, we should see a continued upside move. I expect to see an increase in volume as traders are always looking for stocks that bounce after a big sell-off, so watch it closely next week.

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.


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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 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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