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Saturday, March 05, 2016 

Stocks to Watch for March 07, 2016

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I mentioned on twitter that Netflix, Inc. (NASDAQ:NFLX) was looking constructive (flagigng below the key EMAs) and that the 100 level may not hold. It did not take long for this to play out, as the stock price has just closed above these key levels. Also notice on daily technical chart how the stock has recently broken to the upside of the trend line from December 2015. We will have to see if the stock has the legs to reach the 105 level next week.

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Friday marked an important shift in CombiMatrix Corp (NASDAQ:CBMX) shares as they closed above the upper line of the declining trend channel that has been forming since December last year. CBMX was one of the big winners on Friday, closing up $1.22 on the day. The stock traded heavy volume (when compared to its daily average) as it hit a high of $5.91. This high is resistance for Monday’s continuation move. Looking at the technical chart I see a stock that broke a downtrend and cleared a sideways consolidation base. The first target is the 50EMA (could be easily broken) then $9. Keep this stock on your radar for Monday’s trading day. Note: thin name just 603.78K shares.

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Apple Inc. (NASDAQ:AAPL) In last week’s analysis of the daily technical chart, I had drawn a horizontal resistance line from which a break out seemed imminent and the "bulls" seem to have won this round. Now let's see if the break-out is confirmed next week. The daily technical indicators are looking bullish. The daily MACD is above the signal line and rising in positive territory. The RSI and slow stochastic are well inside their bullish regions. All short-term EMAs are rising, and the stock is rising above them. For now, the bulls are back in control.

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VirnetX Holding Corporation (NYSEMKT:VHC) has made an attempt to break above the key resistance level of $6 on Friday but it was not successful so the price is currently back to support area 5.45-5.30 (short-term EMAs 13&20). The price structure still suggest a short-term uptrend and therefore, in my honest opinion, it is possible that the bulls will regain control. All key technical indicators are also supporting the current short-term bullish trend. Only a close below the 200-day EMA would negate the bullish implications of this pattern. On watch.

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Vringo, Inc. (NASDAQ:VRNG) The past couple of days the price has been pulling back off its sharp rebound rally in the second half of February. Price has formed a flag formation. The confirmation of this bullish pattern is a break of the upper line. A sustained push above $2.35 level, where the upper line currently ends could take the stock up to 3.50 my first resistance. The A/D shows strong accumulation over the past 3 weeks. Stay tuned.

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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) The daily technical chart shows that we are clearly in a downtrend, however some indicators are showing some positive divergences. We can see by MACD that the stock is losing momentum to the downside, while A/D also shows signs of accumulation. Watch this downtrend line carefully here and play accordingly.

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SolarCity Corp (NASDAQ:SCTY) Congratulations to all those who profited from Friday's twitter alert. The stock moved in line with my expectation and achieved my initial price target of $25, closing the gap. Going into next week, the stock may consolidate sideways within the 21.5-23.5 range before starting a fresh rise. My bias remains bullish and the short-term postive outlook would be negated only if the price declines below $20.

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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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