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Saturday, February 27, 2016 

Stocks to Watch for February 29, 2016

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AK Steel Holding Corporation (NYSE:AKS) Technically, the stock is in clear short-term bull market and showing signs of wanting to move higher, probably to test or break the next resistance at 3.03 (200EMA) and eventually to the 3.19-3.25 level. All four major EMAs have started moving up, with the 20-day EMA above the 50-day EMA for the first time in more than 10 months. Friday’s intraday high of 2.87 was also the highest level the stock has touched in more than three months. The daily technical indicators are pointing to a continuation of the rally.

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Celldex Therapeutics, Inc. (NASDAQ:CLDX) For the past few weeks, the stock price has been consolidating within a rectangular band between 6.25 and 7.89. There is a good possibility of the stock price trying to form a bottom here. With the daily momentum indicators on the above chart showing positive divergences I think a push to $9.60 or better could be in the making. Friday's high volume could be a signal for trend change and the beginning of a potential major move higher.

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BlackBerry Ltd (NASDAQ:BBRY) share price has finally crossed and closed above the declining 50-day EMA, which is very positive. The positive momentum may continue towards next hurdle of 7.90 and 8.15 zones. If stock fails to hold above the 7.30 level then the positive momentum may fizzle out and stock may tumble down towards next support at $7. However, the daily technical indicators are turning bullish. The RSI has just crossed above its 50% level and MACD is about to cross above the center line. Thus, I expect to see further upside.

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Kinder Morgan Inc (NYSE:KMI) is in a rectangular pattern that could accelerate to the upside if it breaks above 18.14. I will look for a breakout from the upper line of the pattern to trigger a long signal, with a stop at 16.73. The daily technical indicators are showing some bullish signs.

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Plug Power Inc (NASDAQ:PLUG) watch for trend continuation toward 2.22 zone short-term. The breakout of the bullish pennant formation that the stock has been in for the past two weeks was a positive sign, and I expect continuation of the trend in the coming days.

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Groupon Inc (NASDAQ:GRPN) on Friday broke out of a small bullish flag pattern, resuming its up trend by closing above the previous peak. A break above 4.68 could accelerate the stock with the next target at $5 area. Initial stop-loss at 4.05 (200EMA).

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Apple Inc. (NASDAQ:AAPL) For the past two months the stock has been forming a descending triangle formation, meaning the bears are slowly gaining the upper hand over the bulls. However, investors are now pressuring on the upper line of the triangle again and if we close above this resistance line next week, the trend can dramatically change. The bias is still neutral to bearish near term, a clear break is needed from the triangle to see a clear direction. I like the positive divergences in both the Daily Macd and Rsi indicators.

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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.

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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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