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Saturday, January 30, 2016 

9 chart setups for the coming week

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Xerox Corp (NYSE:XRX) was up on Friday, after the company released good earnings. The stock was up $.52 on 3x normal daily volume, as it hit a high of $9.89. I will be watching XRX on Monday for a follow through move, using Friday’s high as resistance. The bias is bullish in nearest term. There is a lot of upside room in this stock, so watch it closely.

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Some signs of a reversal on price action mentioned on an earlier post did work out as I expected. The stock had a bullish move on Friday breaking several resistance lines and could eventually rally up to test the declining EMA50 in the next sessions. Checking on the indicators, the MACD is rising above the signal line and the RSI is constructing higher lows and higher highs, both suggesting further upside. Plus, The stock's accumulation/distribution line (A/D) remains in a strong up trend. KBH is displaying upside momentum and is poised to move higher from these levels.

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Cree, Inc. (NASDAQ:CREE) has a very interesting daily technical chart as the stock looks to be ready for a good upside move. CREE traded a good volume on Friday as it closed up $.98 on the day above the $28 level. All inidicators are still in Bullishs areas. Keep an eye for a possible breakout over $28.10 (EMA200).

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Chimerix Inc (NASDAQ:CMRX) On Thursday, BlackRock reported it increased its stake to 6.5%. Institutions and insiders continue to buy/add shares at current levels, which means that sooner or later we should see a reversal up. I continue to hold my position in the stock as I believe there will be more share price appreciation in the coming days. Following the smart money usually pays off. Note: Last week the billionaire Steven Cohen also revealed a 6.4% stake.

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Inovio Pharmaceuticals Inc (NASDAQ:INO) Looks like a V-bounce is underway. The stock surged more than 15 percent Friday accompanied by a strong volume expansion, closing above its EMA100 for the first time since December. The technical chart shows buyers are back. A move towards $7 can be expected as long as $6.12 holds.

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Apollo Education Group Inc (NASDAQ:APOL) is coming up to a big level, as the stock is near the $8 level. I will be watching this stock closely next week as I expect to see a strong move once the stock breaks through resistance. A move past $8.09 would be a strong indicator of a further uptrend in the stock. The technical daily chart show a continuation of the uptrend with MACD and RSI in the Bullish areas. My model remains long, targeting $9 area. Rumors of takeover are emerging again.

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Citigroup Inc (NYSE:C) broke out of a bottom/accumulation pattern. Now we just need to see on Monday a confirmation of the reversal. Indicators are turning up.

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CONSOL Energy Inc. (NYSE:CNX) looks like it is starting to turn. On Friday, the stock price decisively broke through its downtrend-line by gaining nearly 17 per cent accompanied by heavy volume. From technical indicators, I continue to see a confluence of "BUYS", with RSI crossing above 50 and MACD heading up. The stock hit a high of $8.58, which is resistance for Monday’s follow through move.

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BlackBerry Ltd (NASDAQ:BBRY) is in the process of bottoming and I expect a pop above $7.16 at some point in the coming days. All technical indicators are giving some signs of downward exhaustion. The MACD has stabilized and the RSI is trying to turn higher. On Friday the company has received approval from the Toronto Stock Exchange to more than double its existing share buyback program and repurchase up to 5.8 percent of its public float, not good news for short sellers. A strong short-covering rally should emerge sooner or later. Keep it on your watch list going forward.

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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