My Watchlist for Monday, Aug 07
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Cryptocurrencies are ripping higher again ($BTC.X bitcoin hit a new all-time high above $3300) and you should keep an eye on MGTI stock next week. This company is growing its capacity in mining Bitcoin, producing about 100 Bitcoins per month, ranking it as one of the largest U.S. based Bitcoin miners. This play is viewed as one of those potentially quick moving, volatile momentum plays. The stock has the technical setup that most aggressive traders dream of. The daily technical chart shows possibillity of a new rally as the stock is trading above 50 day and 200 day exponential moving average while 50 day exponential moving average is about to cross above 200 day exponential moving average to form a very bullish buy signal, the Golden Cross. In addition, with MACD above 0 and showing signs of turning up again, a major rally is probably coming. If it breaks above the recent high of $1.45 then I could see this stock moving to $2.25 and then $2.84. The stock closed Friday at $1.14 and has a 52-week high of $4.04. I still holding a strong position in this company because i trust in the project of John McAfee. It is my honest opinion, nothing more. Note: MGTI trades in the OTC Market.
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NVIDIA Corporation (NASDAQ:NVDA) Keep this one on watch, it could be setting up to break out of this large consolidation. Go long when it breaks on heavy volume. The rising EMA50 should be used as stop.
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Sierra Oncology Inc (NASDAQ:SRRA) Continuing to watch as it tests this old resistance area. If the stock breaks the $1.52 level the first target is $1.68 followed by $2.05. The accumulation line still rising.
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Intrepid Potash, Inc. (NYSE:IPI) is looking absolutely wonderful. Next buy point when it breaks out to new highs.
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 had 22nd Century Group Inc (NYSEMKT:XXII) on my watchlist a few times this month and Friday it broke out in impressive fashion on volume expansion. Watch for continuation. Next immediate resistance is 2.54
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Cara Therapeutics Inc (NASDAQ:CARA) Setting up to clear this resistance area, keep on watch.
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
Labels: Bitcoin, CARA, IPI, MGTI, NVDA, SRRA, XXII
