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Thursday, August 11, 2016 

Stocks to Watch for Aug 12, 2016

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Onconova Therapeutics Inc (NASDAQ:ONTX) saw a strong bounce on heavy volume today, closing above the 9-day exp moving average for the first time since June. Further rebound is expected to test the $4 level. If a break above this level occurs, price could eventually target the 4.50 region to the upside. Daily technical indicators are turning bullish. MACD is about to cross above its falling signal line and the RSI has bounced up a bit from the edge of its oversold zone. In addition, slow stochastic is trying to emerge from its extreme oversold zone. A solid base has been established around the 3.20-3.35 zone and I believe that the stock is poised to break through the 4 mark soon. I'm currently accumulating this stock.

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PTC Therapeutics, Inc. (NASDAQ:PTCT) Watch this bull flag formation. Good long setup, if it takes out the $8 level on volume.

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Seres Therapeutics Inc (NASDAQ:MCRB) showed more signs of strength on today's session, as the stock closed up $.52 on the day. It has strong resistance around the $10 level, and breaking above could take the stock to $12.25 in a very short time frame. Keep an eye on MCRB and be prepared for this upcoming move.

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On my watch list for tomorrow. Nice clean bounce off the 20-day EMA today. Shares of SCYNEXIS Inc (NASDAQ:SCYX) are starting to heat up again and are worth watching. If volume can pick up I think this stock can break through resistance at $2.22 and re-test its recent highs around 2.35

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Resolute Energy Corp (NYSE:REN) Some serious upside volume coming into this stock over the last few days. At the present level the stock is incredibly extended, anyway REN is now seeing blue skies as there is no resistance overhead. I'm bullish on the stock, but in situations like this (extreme overbought conditions) I prefer to wait for a pull back, rather than chase the market.

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Silver Standard Resources Inc. (NASDAQ:SSRI) broke out to a new 52-week high today accompained by a strong volume suggesting higher levels. The technical daily chart still showing a bullish bias. KD line shows positive signs as %K line is rising on top over %D line and RSI continue moving up. The MACD has also formed an upside cross. I suspect the stock may continue to appreciate over the coming days.

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LendingClub Corp (NYSE:LC) On watch. Nice bullish candle today. Has a gap to fill over 5.63

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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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