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Saturday, February 24, 2018 

Stocks to keep an eye on Monday, 26 of February 2018

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BlackBerry Ltd (NYSE:BB) surged 64 cents, or 5.37% Friday on higher-than-average volume and finished the day at its highest close in more than three weeks. The stock closed at 12,55, substantially above key resistance at 12,14 (50-day exponential moving average), confirming the breakout. Yesterday's close was also near the high of the day, another good sign and indication of possible continuation of current momentum. The technical daily chart is still showing the same trend as stock. MACD has crossed back above the signal line and the stock is still on top of 50-day and 200-day exponential moving averages. Based on the chart above, if you are short, you are on the wrong side of the trend. Plus, unusual call options activity was also detected. I'm looking for a move towards the 13.20 area in the next couple of days.

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NII Holdings, Inc. (NASDAQ:NIHD) Closed the week above the declining 200-day exponential moving average for the first time in months and looks like it will continue to run up. Looking at the daily technical chart above the stock has just entered into a short-term bull market as the price is now on top of all major EMAs. Other technical indicator such as MACD, is rising again and above 0 showing positive momentum, while RSI also shows buy signal. If the stock breaks next resistance at 1.10, the share price is likely to move to the target zone of the 1.25-1.3 range.

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Forward Industries, Inc. (NASDAQ:FORD) is one for the bottom pickers. Based on the daily technical chart above, this stock has declined to the point of becoming a good bottom play, at least a 25-30% bounce in my opinion. The RSI is trying to move up from the bearish zone while the MACD and Slow Sto are showing a positive divergence, signaling that a bounce is likely. On Friday in after-trading, the COO Paul Jean Severino, has filed an initial statement of beneficial ownership where 200,918 shares of Forward Industries were declared. Generally when insiders own shares, especially in large amount it is a sign that positive things are coming. Im long.

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SemiLEDs Corporation (NASDAQ:LEDS) keeping my bullish bias despite the volatility on daily. The stock has held support around the short/medium-term EMAs and is displaying a screaming buy divergence on the upside in the momentum indicators. With 20-day EMA on top over 50-day EMA, MACD above its signal line and RSI above 50% level, the stock is currently in a short-term uptrend. A reversal may be on the way. Im looking to see this stock re-test its January highs shortly.

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Rexahn Pharmaceuticals, Inc. (NYSEAMERICAN:RNN) was over $2.65 last month and closed yesterday at $1.74. We could see a sharp rally next week out of these oversold conditions. There is also a potential triplle bottom formation on daily with some positive divergences and a breakout of $1.80 is likely to confirm it. With the 200-day exponential moving average at $2.33, there is a lot of room for this rebound to go. Stop 1.67

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Sorrento Therapeutics Inc (NASDAQ:SRNE) Strong move yesterday on solid volume. Traders should watch for a potential breakout over 9.55. The MACD is still positive and above its rising signal line.

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Momo Inc (NASDAQ:MOMO) cleared this major resistance on expanding volume and looks ready to extend its gains. Keep on watch list.

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RXi Pharmaceuticals Corp (NASDAQ:RXII) has the perfect set up to make a nice run here. The break out point would be at 3.57. Price attempted to push higher but found resistance around 3.50. Neutral bias for the week ahead but overall I still prefer a bullish scenario with 4.1/ 4.60 as nearest targets. Momentum indicators are rising.

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S&P 500 has been consolidating the recent gains, and appears close to resuming its rally. An upside breakout is likely at this time given the positive technical indicators. If it index breaks above this week's high, short-term trend will change to bullish.

During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog twitter and newsletter, so you can receive my trade ideas and stock news in real time.

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 46 year old Independent Trader using proprietary technical analysis with more than 20 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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