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Saturday, April 01, 2017 

My Watchlist for Monday, April 3

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Blackberry is back !!!! The stock surged 11.51% to 7.75 per share after released quarterly results that beat Wall Street’s expectations and said it would be profitable for its entire fiscal 2018. From a technical standpoint, the stock broke out of the falling wedge formation it had been on since September 2016, accompanied by massive volume expansion. In my opinion, investors should use any pullback to add stock. I expect more short squeezes in 2017 and an acquisition is now much more likely. As i have been saying on Twitter, Blackberry is my biggest long investment with an average price of $8.15 and i truly believe i will double my money, like i did with Nvidia, when i told people to add in the 16's, its now trading around 110's. Patience is the key to success.

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Advanced Micro Devices, Inc. (NASDAQ:AMD) Last week, the price finally broke the downtrend line formed from the Fev highs of 15.55 and resumed the uptrend. We will probably test the highs again next week. Technical indicators continue to support the bullish case.

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Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) cleared resistance on expanding volume and looks ready to extend its gains. Next resistance levels to watch are $3.75 and $4.34. The stock has the potential for a strong follow through next week. Volume indicator shows signs of accumulation. Keep on watch list.

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Neothetics Inc (NASDAQ:NEOT) broke out of a flag formation on higher volume. This will lead to a price target of +$2.35. Key indicators on daily charts suggest continuation of positive bias and the stock price is likely to show further up side. There is a huge gap over 1.98, which could cause a squeeze higher. Took a big position on Friday.

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I'm still watching shares of Marinus Pharmaceuticals Inc (NASDAQ:MRNS) due to the recent price action, volume, and momentum. Next resistance is now seen at 1.87 then 2.06.

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Novan Inc (NASDAQ:NOVN) seems to have reversed from its short-term downtrend and could be starting a new uptrend. It broke the descending trendline, thus confirming its trend reversal. With the MACD rising and above its signal line, NOVN could post a nice rally from current levels. Plus, daily ADX flashed a new Buy signal. Target $8

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Ophthotech Corp (NASDAQ:OPHT) has a chart set to breakout. The real fireworks should begin if price can close above the $3.72 area. Keep on watch list. Added on Friday.

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Soligenix, Inc. (NASDAQ:SNGX) I'm a patient investor. This is a very constructive price action as it pulls back on lighter volume. Short-term technical indicators are Bullish. Lets see whether the stock can gather enough momentum to break through the key $3.10 level next week.

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Congratulations to those who took full advantage of Akari Therapeutics PLC (NASDAQ:AKTX) alert at 7.50 (Thursday after-hours) It delivered nearly 60% potential gains and closed up near the day’s high on a monster 18.69M shares traded. I sold all my position, but the stock can run again on Monday. Everything is possible. Above you can see the weekly chart.

Have a great weekend, and congratulations on another great trading week!

Note: I will take few days off from April 11th to 16th and back to office on April 17th (Monday).

If you want to contact me for advertising opportunities on blog or twitter, then get in touch via email

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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