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Thursday, May 26, 2016 

Bullish setups for Thursday 26th of May 2016

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American Midstream Partners LP (NYSE:AMID) had a big surge in price and volume in April when stock price doubled in just 4 weeks. The stock has consolidated over the last couple of weeks in a bullish pennant formation and appears ready for another breakout. The stock hit a high of $12.30 on Wednesday, which is resistance for Thursday’s continuation move. If the stock can break through this level, I expect to see a strong upside move.

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FORM Holdings Corp. Common Stock (NASDAQ:FH) broke out in a big way Wednesday on great volume. I think we will see a nice follow through today. A break of $2 with force might give room to 2.26 then 2.75/80 area. DMI/ADX Triggered a new "Buy Signal" for the first time in weeks.

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Westmoreland Coal Company (NASDAQ:WLB) broke out yesterday, after it thas been consolidating in the past few months. The stock hit a high of $8.44 on Wednesday, which is resistance for the follow through move. Charts on all time frames are bullish. You should watch this stock closely today.

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OHR Pharmaceutical Inc (NASDAQ:OHRP) could be in the early stages of a technical breakout. Momentum indicators are showing bullish signals supported by rising MACD and RSI on the daily charts. Some top executives have been acquiring shares for the past few days showing the management is bullish of the company's outlook. Keep it on your watch list going forward.

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Office Depot Inc (NASDAQ:ODP) Daily technical chart is showing signs of a possible turn around. In terms of technical indicators, the RSI is starting to rise in the oversold zone while the MACD is about to cross above its signal line. The trend is expected to begin the upwards movements. One insider purchased 14267 shares on Wednesday and July $5 calls had a lot of activity. Keep an eye for a possible breakout over 3.53.

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BlackBerry Ltd (NASDAQ:BBRY) has bounced nicely from the recent lows. The immediate resistance is around 7.33 which the stock will likely to test in the coming sessions. A close above this range is a pre-requisite for the reversal of the bearish trend. The short interest has been on a decreasing trend, with 2% decrease recently and bringing the interest to 12.58% of the float, while the short ratio (Days to cover the 65M shares) has been increasing for the last 6 weeks. That's the perfect scenario for a short squeeze on any positive news.

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VirnetX Holding Corporation (NYSEMKT:VHC) Should breakout hard to upside when it crosses over $5.27

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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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