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Tuesday, July 05, 2016 

Stocks to Watch for July 06, 2016

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MGT Capital Investments Inc. (NYSEMKT:MGT) continues to perform strongly and appears poised to breakout. A sustained break of $4.59 should bring the stock price to a test of the recent highs in the $5.50 area. Keep it on watch.

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Lipocine Inc (NASDAQ:LPCN) Excellent strength relative to broad market. The stock broke out into the gap area on decent volume today and there is a high probability for a trend continuation in the next sessions. The RSI is curling up and the accumulation line is moving higher. The stock hit a high of $3.48, which is resistance for Wednesday’s move. If the stock can break through resistance, we should see a follow through move. Watch the stock closely tomorrow.

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Relypsa Inc (NASDAQ:RLYP) started the day negative but turned things around to close up nicely. Daily technical indicators are looking bullish. The MACD is above its signal line in positive territory and the RSI is back above the 50 level. RLYP has a high short interest of 19 million shares, so if it breaks and close above the 19.74 level, we could see a short squeeze and a big move up.

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IAMGOLD Corp (NYSE:IAG) broke out from its sideways consolidation today with a 3.13% rally and a close over resistance at $4.50. Look for follow-through on Wednesday with increasing volume to confirm today's move.

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NVIDIA Corporation (NASDAQ:NVDA) might attempt to breakout above $47.50 level again and if it succeed we should expect a nice move to the upside.

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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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