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Saturday, January 02, 2016 

Chart setups for the first trading week of the year

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With Chimerix Inc (NASDAQ:CMRX) still trading within the gap, I expect to see a continuation of the bounce next week. I like when insiders are buying back shares and last week they bought 125000, which is a clear indication that the top executives are seeing something positive going on. In addition the institutions are also bullish, according to a new 13G filing, Point72 Asset Management has initiated a 5.3% stake in the company. The combination of the insider and instituions activity and the extreme oversold readings, makes me think that the bounce/rally should continue for a few more days. Keep watching the stock.

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I'm putting Lion Biotechnologies Inc (NASDAQ:LBIO) back on the list for another week. After making a big move in November, the stock has been in a consolidation mode and I feel it is going to make another upside move very soon. The volume has been quite modest and the MACD seems to be stabilizing (MACD histogram is now showing a pos divergence), which could power the rally that I think is coming. Additionally, the stock is still trading above its medium term EMAs with RSI also in the Bullish territory. If it breaks above 7.88 (200-day EMA), further up move can be expected. This is a fast moving stock, so watch it closely but use your stops if it fails on the breakout. Im long.

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BlackBerry Ltd (NASDAQ:BBRY) is flagging after a sharp move from 8 to 9.46 in the third week of December. A break of 9.46 resistance could get the stock to targets at 10 and then 10.50 Daily technical indicators are looking bullish. MACD is above its signal line in positive territory and RSI is alternately moving in and out of its overbought zone. Option traders are betting that the stock will keep ripping higher. Hold or use dips to accumulate.

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Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) stock continues to perform strongly and appears poised to breakout to higher levels. On the technical side, the daily chart looks very good. The MACD is positive and above its rising signal line. All EMAs are rising with the stock trading above them. Breakout watch over 10.95

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Vical Incorporated (NASDAQ:VICL) has had a hard time with this resistance line (EMA50) but may be ready to move higher. It would need to close above that level to run to 60c. Accumulation line is starting to point up and the RSI is also moving higher, which is a sign of growing strength in the stock. Also the MACD is giving a positive indication. VICL will move quickly, so keep it on your screen on Monday.

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NuStar Energy L.P. (NYSE:NS) The stock is on the verge of breaking out and it could happen very soon. If it breaks the 41 level the stock will absolutely fly into the 44's right away. Daily technical indicators are looking bullish. The MACD is rising above its signal line near the positive territory and RSI bounced up again from its 50% level. On watch.

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Twitter Inc (NYSE:TWTR) Nice Bullish Engulfing candle on higher volume. The stock is nearing a key resistance level of 23.54, which if broken should lead to a target of $25 in the short term. Price broke through its 13-day EMA resistance on Thursday session but failed to close above, however this was the first signal that I was looking for since a while. I'm using $23.54 as resistance for this upside move. If the stock can break through this level we should see a reversal of this down trend.

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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