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Wednesday, March 02, 2016 

Stocks to Watch for March 03, 2016

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bluebird bio Inc (NASDAQ:BLUE) showed buying strength all day and has finally closed above its 50-day exponential moving average for the first time since November 2015. The stock is on the verge of breaking out and it could happen very soon. The volume dramatically increased as the stock ran to near the recent highs, showing me there are buyers watching the stock. From a technical perspective, momentum indicators are slightly bullish now with RSI inching away above the middle level and MACD above the zero line. Tomorrow we could see extension of this new momentum towards $56 area.

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Clovis Oncology Inc (NASDAQ:CLVS) After being trading in a bearish tone since December the stock appears to making a comeback in favor of the bulls. Clovis Oncology Inc (NASDAQ:CLVS) caught my attention today. The signal to buy was given when the previous day high was taken out. This breakout suggests a possible move to $26. The stock showed a lot of strength and I expect to see another round of buying. On the technical side, the chart looks very good here. CLVS call options were also very active today.

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Chimerix Inc (NASDAQ:CMRX) There are some signs of a possible bounce here due to the oversold indicators and positive divergences, which often leads to short covering. Let’s see whether the stock can gather enough momentum tomorrow to break through $5.24. If the Bulls are able to push through this level, there will be a new rally towards $5.70. Note: Insiders bought nearly US$100,000 worth of CMRX shares this week.

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Apple Inc. (NASDAQ:AAPL) has already recouped its recent losses and looks poised to break resistance at $101. The near-term outlook stays cautious till the stock closes conclusively above this level. So far the daily technical chart is still showing buy signal with stock trading above 20 and 50 day exp moving averages with MACD on top of signal line and %K line on top of %D line. Short-term traders can hold their longs with a stop at $97.18

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Celldex Therapeutics, Inc. (NASDAQ:CLDX) finished the session today with a gain of 81 cents, or 10.8%, on higher-than-average volume, closing near the session high. This is an indication that current momentum could continue in the next few trading days toward the 8.50-9 area. Watch CLDX trade tomorrow since it has indicators suggesting that share prices could be continue on an upwards path, especially in the near-term.

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United States Steel Corporation (NYSE:X) rocketed out the gates like a bullet with over 23%. What a great day X presented us with. Congrats to all my followers who traded my alert.

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Inline with my anticipation, Intrexon Corp (NYSE:XON) gained today accompanied with average volumes. The stock confirmed today the reversal when it broke up above the $35.25 level. The stock looks strong enough to move forward.

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Sphere 3D Corp. (NASDAQ:ANY) failed today but my bias remains bullish. Notice accumulation volume has been ramping up lately. 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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