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Monday, May 29, 2017 

8 stocks to watch this week

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Tesla Inc (NASDAQ:TSLA) remains one of the hottest stocks on the market and could be ready to breakout of this sideways pattern. Price should become explosive if this daily chart pattern is broken to the upside with volume. Shorts continue to be on the wrong side of the trend.

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Is FORM Holdings Corp. (NASDAQ:FH) on your Radar ? It better be. Insiders have been buying shares at an accelerated place. They bought more than 155000 shares in the last two weeks. The frequency and quantity of the insider activity is a very important indicator of insider sentiment. From a technical standpoint, the stock is reversing off recent lows and is seeing strong buying volume. It broke out of the descending channel and I think it could be in the early stages of a rally that will bring the stock back over $2.25 a share and ultimately $2.60+. FH has an explosive chart in progress. Im long.

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China Auto Logistics Inc (NASDAQ:CALI) has been pulling back after a strong rally early in April. As you can see from the technical daily chart above, in this corrective phase the stock has found strong support around the 2.25-2.30 level on multiple occasions. At this point, traders could expect a strong bounce and a potential breakout of the downtrend line. MACD is curling up and the accumulation remains high.

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Cleveland BioLabs, Inc. (NASDAQ:CBLI) seems to be a promising stock to follow. As I mentioned on Twitter last week, the stock has been developing an interesting pattern accompanied by an increase in the volume. Daily momentum continues to show strength on the daily chart, with RSI above 50 line and MACD in positive territory and above its signal line. Based on this, I believe we could see further gains that could push the stock towards $5. CBLI is a fast moving stock, so you need to watch it closely next week.

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Marvell Technology Group Ltd. (NASDAQ:MRVL) surged 4.31% Friday on one of the heaviest volume sessions this year, with 20 million shares traded. The stock closed slightly below the high of the day, which now represents the next resistance for the follow through move on Tuesday. If a breakout above this level occurs, we could see a continuation of current momentum. After strong gains, the risk of profit taking is high, so play with tight stops.

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Rentech, Inc. (NASDAQ:RTK) showed strength all day on Friday and price broke the descending triangle chart pattern to the upside on volume. The stock is in the process of bottoming and I expect a pop above $.60 at some point in the coming days. Momentum indicators are looking bullish with RSI inching away above the middle level and MACD rising. This momentum could push this stock much higher from here, so keep the stock on your radar for Tuesday’s trading day as there is good upside potential in this move. Short-term levels to watch 56c and 68c.

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Infinera Corp. (NASDAQ:INFN) printed a strong bullish candle on Friday, showing huge buying pressure and the stock looks to be on the cusp of a breakout to the upside. Some technical indicators are turning up here. Further strength above $10.52 opens the door to +$11. Put her on your radar.

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Ocular Therapeutix Inc (NASDAQ:OCUL) On Friday jumped 73 cents, or 7%, on volume and broke definitely out of the pennant formation which the stock has consolidated over last sessions. Watch for continuation.

I would like to take this opportunity to thank all of you for your support, retweets and mentions. Im about to hit 50000 followers on Stock Twists and 25000 on Twitter and that makes me very happy. Unfortunately I cant answer everyone in real-time. The best way to get in contact with me is through my email address here at the blog. Thank you very much.

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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