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Saturday, August 04, 2018 

A few stocks to watch next week - I will be in vacations 3 weeks

Dearest Readers, 

First, I would like to thank you for your cooperation and support during these last few months, with a high increase of followers on Stocktwits and a great increase in the number of followers on twitter that has almost reached 29300 followers. Then, announce that in the next three weeks I will be on vacation and will not be back to update the blog until the 25 August. But before I leave you , I have placed some charts with potential ideas for next week. Thank you very much and Happy holidays.

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Apple Inc. (NASDAQ: AAPL) closed the week 8.91% higher than the previous week, boosted by the strong earnings report and has surpassed the $1 Trillion dollar mark. From a technical standpoint, the stock needs now to digest gains and work out the overbought condition with a correction or consolidation.

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IQIYI Inc (NASDAQ: IQ) Share price has declined recently and the selling pressure on Friday broke down the $30 support level, coming all the way down to $28.50. As i tweeted yesterday, the stock needs to regain this key level quickly to avoid another leg down towards $24 region. The bias remains to the downside.

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GoPro Inc (NASDAQ: GPRO) broke and closed above the key resistance level of $7 on Friday for the first time since December 2017. This breakout on heavy volume also confirmed the bullish reversal pattern that GPRO formed on the previous month. The measured move of this break points to a target of $8.5

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Xenetic Biosciences Inc (NASDAQ: XBIO) This is one of the best daily charts out there for a low floater. The bearish sentiment was reversed last week after a sucessful test of its major support zone at 2.71. Plus, the stock also broke the large falling wedge that formed since the recent peak at 8.95. Possibilities of an uptrend continuation are now be heightened. Breaking the recent high of 3.59 level will confirm this possibility. Once there is confirmation, the stock will then be able to reach out for its next resistance level of 5.2 and could even attempt to break for a higher resistance level of 6.39. Keep in mind, this is low float moves fast and could blow up on any volume. As i tweeted, im long and increased my position last week. Long setup on watch.

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We're seeing signs of a trend reversal for Kraft Heinz Co (NASDAQ: KHC). A high volume move through the 65 price level (Friday's high) would be buyable.

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Advanced Micro Devices, Inc. (NASDAQ: AMD) continues to consolidate the recent momentum rally and above all short-term rising EMAs. Need to see how this one plays out but the pullback with declining volume is a good sign to work out the overbought conditions. If the correction continues could be a great buying opporturnity in the 17.5-17.8 level.

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AT&T Inc. (NYSE: T) could be flagging, watch for above average volume. May run higher. The overall outlook for the stock appears bullish. Only a close below $31.5 would negate the bullish outlook for the stock. A close above $32.34 would reinstate short-term bullish trend that could propel the stock to the next target zone of $34

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CorMedix Inc. (NYSEAMERICAN: CRMD) is forming a Pennant chart pattern on the daily timeframe with a drop in volume, signaling a break is coming soon. This formation is a known bullish continuation pattern that activates after the breakout. Keep it under radar.

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Energy Fuels Inc (NYSEAMERICAN: UUUU) Friday's price finally broke the bull flag pattern. Expect more highs next week.

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Trevena Inc (NASDAQ: TRVN) I alerted this one Friday on Twitter as a possible trend reversal and the stock did what it was supposed to do, closing up 13 cents or 10% on the day trading more than 2.47 Million of shares. The stock hit a high of $1.65, which is resistance for Monday’s move. If the stock can break through this level, I expect to see another upside move to $1.82 and better. A stop-loss should be placed at $1.35

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Helios and Matheson Analytics Inc (NASDAQ: HMNY) A serious case of study. In 20 years of trading i never see something like this. A drop from $600 (adjusting R/S) to 7c in just 3 months. I assume that at some point I also lost some money here, right now I just scalp trade but still think it is not worth the risk.The technicals dont matter here, the violence of the selloff is so strong, that we cant hold this stock more than few minutes. It has been a scary movie for thousand of long-term investors.

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 44 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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