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Sunday, May 13, 2018 

Indexes and stock charts for next week

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iShares NASDAQ Biotechnology Index (ETF) (NASDAQ: IBB) finally broke and close above a very significant resistance zone after a few attempts last week. If it continues to be strong we may test 115 and 119.3 over the medium term.

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S&P 500 Index also broke above a very significant trendline last week. The key daily momentum indicators continue to show signs of upward acceleration. Expect further upside for US stocks.

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PHLX Semiconductor index (SOX) rallied strong again last week to 1363 (key resistance). If the index breaks that level next week, more buying could follow and we will probably test the recent highs. Momentum still to the upside in near term.

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Uniqure NV (NASDAQ: QURE) is consolidating its big run-up from early April from the 22 to 32.5 area. It is currently in a bullish flag formation after dipping slightly off resistance in the 32.49 area. Keep an eye on this stock next week.

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Boxlight Corp (NASDAQ: BOXL) looks to be turning higher again. The ingredients are here for another strong rally. The hourly chart shows a stock that is right on the cusp of a big breakout. If it can break through the $7 level, then I think the $10 mark could be well within reach. The chart looks to be turning around and I would not be surprised if people started getting back into BOXL in anticipation of another BIG rally.

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I've covered MannKind Corporation (NASDAQ: MNKD) in the past, and it appears it is getting investors attention again. The stock needs to break through $1.87 to really get going. A break of that level brings $2.4 into focus. Keep a close eye on this one the next week.

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Celldex Therapeutics, Inc. (NASDAQ: CLDX) in my view, is a great bottom play. The company announced good earnings on Thrusday that could mark the turning point, after a drop from over $2 a share last month to current levels. I think CLDX will post a nice rally from here and deserves being added to your watchlist.

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Tyme Technologies Inc (NASDAQ: TYME) is possibly forming a nice rounding bottom pattern that will breakout soon and shall target 3.27 short-term.

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Turtle Beach Corp (NASDAQ: HEAR) continues to impress. The technical chart is extremely overbought, but there is no sign of a top yet. Play with tight stops.

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VirnetX Holding Corporation (NYSEAMERICAN: VHC) After VHC has hit the $5 level in April the stock took a strong drop, shaking out many longs along the way touching in a new 52-wk low late in the month. Since then, it has recovered and is holding up on strong volume. Those that were not shaken out on the drop seems to be holding and honestly I think this stock could have another run left in its tank.

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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