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Saturday, January 09, 2016 

Seven Stocks for Your Watchlist

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I've been looking at Chimerix Inc (NASDAQ:CMRX) for a possible breakout into the gap. From my point of view, there are solid and consistent buyers here. In other words, the money flow index indicator on the chart above shows the strength. Plus, the daily technical chart also shows that there are some signs of a possible bounce due to the oversold indicators and some positive divergences, which often leads to short covering. Let’s see whether the stock can gather enough momentum to break through $9.72 in the coming sessions. The company management will participate in one investor conference next week at the J.P. Morgan 34th Annual Healthcare Conference taking place in San Francisco from January 11th - 15th 2016. This could be a good catalyst for a bounce. Stay tuned.

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On my swing long list. I think Silver Wheaton Corp. (NYSE:SLW) is about to breakout from this descending triangle pattern. On the technical charts, the stock currently is trading just above its 13 & 20EMAs with both lines providing an additional layer of support for stock. Additionally, the MACD made a bullish crossover last week. With good trading volume, the stock could be poised to trade higher to test its next level of resistence at 14.09. On watch.

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JP Energy Partners LP (NYSE:JPEP) Contrary to expectations, the stock price ruled strong and also moved closer to the resistance level of 5.12. Investors may remain invested with a stop-loss at 4.35 (on closing basis) as the stock appears to have the potential to break out. So far the daily technical chart is still showing buy signal with stock trading above 9 day and 13 day moving averages with MACD on top of signal line and RSI rising. On watch.

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Glu Mobile Inc. (NASDAQ:GLUU) After a "weak" open, the stock reversed course and closed higher to form a strong bullish engulfing candle on Friday. We should be watching for a follow-through day to confirm that a new uptrend is under way. There is short-term resistance looming at 2.52. A break above this level would expose the stock to next resistance level at 2.72. Stay tuned.

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Walter Investment Management Corp (NYSE:WAC) demonstrates bullish bias on daily technical charts supported by positive moves of momentum indicators. Let's see if it is able to muster enough interest next week from traders to break through and clear the 15.26 level. Watch out for volume at the breakout as it could be an early indicator of investors interest.

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Viacom, Inc. (NASDAQ:VIAB) Setting up a possible resistance breakout trade. Long over 41.86. There are several indications on daily technical chart which suggest a near-term bottom.

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NGL Energy Partners LP (NYSE:NGL) gave a pocket pivot buy point, rising in higher volume. From a technical standpoint, momentum indicators are beginning to turn bullish. Watch for a good follow through day next week.

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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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