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Saturday, March 11, 2017 

My Watchlist for Monday, March 13

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It’s remarkable that last week, another strong bullish signal was generated on Marinus Pharmaceuticals Inc (NASDAQ:MRNS). After several failed attempts, the stock finally broke the upper line of the ascending triangle at 1.50 and did so in a convincing fashion (on volume). Price will likely see a new leg higher towards 1.87 area. The broken resistance now acts as solid support, which should ideally contain dips like what happened yesterday. The target of this pattern is 1.98. I used the pullback on low volume to increase my position on stock. Note: this company still trading below cash levels.

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Immunomedics, Inc. (NASDAQ:IMMU) Friday was a nice follow-through day. Looks like higher prices to come. Still on my top list.

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Sierra Oncology Inc (NASDAQ:SRRA) shares were up as much as 6% yesterday but closed the day with a gain of 4% at 1.49 after receiving an upgrade by SunTrust from Hold to Buy with a price target of $4. Plus, for the second time this year an insider bought a huge amount of shares, which could be seen as a positive signal that something is brewing. Technical daily chart is giving some bullish clues as well. While the ADX line remains placed below the 30 level, MACD triggered a new buy signal yesterday and still in positive territory, which means that we could see another rally very soon. On watch.

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RXi Pharmaceuticals Corp (NASDAQ:RXII) had a nice rally last week and the volume was very strong. I used yesterday’s pullback to go long, I had hoped for a pullback to major support at 0.71 (MA50) but it never got that far. If the stock takes out the recent high of 84 cents on Monday, expect a squeeze, possibly all the way up to the $1 area.

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Clovis Oncology Inc (NASDAQ:CLVS) Good break higher yesterday, clearing last week highs but not a lot of volume. If the stock can continue the run higher next week it will probably test the highs seen earlier this year.

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Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) continues to act strong setting new highs. If stock continues the move on strong volume, will still be a buy.

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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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