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Monday, January 02, 2017 

My Watchlist for the first trading day of the year !!

Happy New Year Everyone !!

I hope you all had a great time these Holidays. I would like to take this moment to thank you all for your vote in the recent poll to identify the most helpful trader on twitter in 2016. I was very honored by the third place I received in this competition. Let’s make 2017 better than 2016

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Nivalis Therapeutics Inc (NASDAQ:NVLS) Could be the perfect start to the week/year. This stock will be for Tuesday’s trading session and after the New Year's holidays, I want nothing more than to kick off the new year with a potential big winner. Daily technical set-up appears to be near perfect to deliver gains. NVLS has been basing for a couple days now, but the strong rally on Friday's session could be a good indication that a break higher may be in the cards. With the MACD rising in negative territory and the RSI at significantly low levels showing signs of strength, the stock could be at the beginning stages of a major uptick. From a fundamental standpoint, the stock is significantly undervalued trading well below cash levels (+$4 in cash per share). This alone is a catalyst and I believe share prices could make an explosive move to the upside. All things considered, NVLS is ready to move upwards, so consider the strong upside potential. I tweeted my entry on Friday.

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ImmunoGen, Inc.(NASDAQ:IMGN) broke and closed above its strong resistance levels (downtrend line & EMA50) and in the short-term will act as support. As long as the stock is able to hold above these levels then the stock should head higher towards 2.25 and 2.40

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Shares of FireEye Inc (NASDAQ:FEYE) are starting to heat up again and are worth watching. If volume can pick up, I think FEYE can break through resistance at $12 and re-test its recent highs around $12.62 (hourly chart). The stock has seen unusual options activity as well.

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If Viking Therapeutics Inc (NASDAQ:VKTX) can break and close above the 1.20 level (EMA100) with heavy volume, I think the stock could shoot up to test the $1.50 area. There looks to be good upside potential, so watch the stock very closely on Tuesday.

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Endo International plc (NASDAQ:ENDP) Nice price movement on high volume Friday. Momentum has become increasingly bullish and the price is currently trading slightly below the EMA50. If it breaks above the intermediate resistance level of 16.89, further up move can be expected.

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Valeant Pharmaceuticals Intl Inc (NYSE:VRX) From a technical standpoint, this stock appears to be poised for a move higher. The rising daily MACD may be an early sign of trend reversal. Let's see if the stock is able to muster enough interest this week from investors to break through and clear the $14.9 level (declining EMA20).

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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 41 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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