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Sunday, January 17, 2016 

Stocks to Watch for January 19, 2016

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Wynn Resorts, Limited (NASDAQ:WYNN) Despite the market's sell-off on Friday, the stock closed the session with a 13.34% gain on its heaviest positive trade since October 2. If we could see a V-bounce like we witnessed in October the stock could run towards 68/70 levels which could mean +20% gains. From a technical standpoint, there is a possible double bottom formation evident on the daily chart. Plus, all three technical indicators are showing positive divergences by not falling below their October 2015 lows. The immediate bias is bullish and a break of Friday's high of 59.12 will lead to some big momentum. Keep in mind, Wynn CEO has purchased 1 Million shares between Dec 4 and Dec 8 at prices well above the current levels. On Watch.

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VirnetX Holding Corporation (NYSEMKT:VHC) The stock was a big winner last week on positive news. The company issued a press release on Tuesday saying that its pending patent infringement lawsuit against Apple is scheduled to start on January 25, 2016. I have been featuring this stock on my blog for several months now. It was a stock that no one wanted back and VHC is now seeing strong money flow and buying pressure. After hitting a low of $.1.95 only a few trading days ago, the stock has exploded to the upside . From a technical standpoint, the stock is now looking overbought. A short period of correction or consolidation at current levels will strengthen this rally. But as you know, corrections don't happen because we may want them to happen. Till then, keep your seatbelts fastened and enjoy this fantastic ride. As you can see on the daily chart above, the 4.70/76 area is a strong resistance level that needs to be taken out to see further potential upside. VHC turned into one of the hottest stocks earlier this year and posted some incredible profits for my readers. Vringo, Inc. (NASDAQ:VRNG) is another patent play that you should consider. Hopefully our patience will pay off one day.

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Apollo Education Group Inc (NASDAQ:APOL) was one of the winners on Friday, as the stock closed up $.33 on the day printing a bullish engulfing candle on strong volume. The stock is back near the top of its short-term trading channel and could make a move on Tuesday. Resistance is $7.69, which is the high of this channel. Some indicators are improving but it needs to breakout above the resistance to confirm the change in trend. I suggest you keep this stock on your radar for a long play. At some point I think it will post an impressive rally.

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bluebird bio Inc (NASDAQ:BLUE) The Long-term scenario for BLUE is not encouraging, but we might see some bounce up at this level. The stochastics continued to move down in the oversold zone, but there are some technical indicators showing positive divergences, such as MACD Histogram. The stock has dropped from $106 a share to $42 a share over the course of three months. I think the stock is well over due for a bounce. I started accumulating on Friday.

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Chipotle Mexican Grill, Inc. (NYSE:CMG) volume is starting to come back and with it some positive price movement, which is a good sign for bulls. This positive action suggests the bounce should continue next week, with the next destination being roughly 500. The daily technical indicators have started to improve but remain slightly weak. The MACD indicator is still negative but has crossed above its signal line. The slow sto jumped up from its oversold zone and is above its 50 level. The RSI has risen nicely from the oversold zone and is just below the 50 level (47.35). With the continued growth in interest, the stock should see $500 and better short term. Use the 13EMA as stop.

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Intrexon Corp (NYSE:XON) is coming up to a big level, as the stock is near its declining EMA20. 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 $27.76 would be a strong indicator of a further bounce higher in the stock. Although the exp moving averages of stock are showing weakness, as the stock is still trading below 20, 50 and 200, there is one technical indicator showing some strength, the stochastics. The stock has chance to start new rally, because %K line has just crossed on top over %D line. The bias is now bullish in nearest term but remains neutral in medium term. On watch.

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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 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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