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Monday, September 03, 2018 

Stocks to Watch for September 04, 2018

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The POT sector is on fire and Tilray Inc (NASDAQ: TLRY) is no exception. It has a strong technical daily and hourly chart. I have no idea how high this one can go, but the stock is in a strong Bull Market, without resistances above. At this level, fresh long positions should be initiated only on a strong move beyond $66.74 using always tight stops (just in case).

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Advanced Micro Devices, Inc. (NASDAQ: AMD) has become increasingly bullish and is currently consolidating in an attractive pattern again. The stock is facing resistance at 25.5 levels recently. If it breaks above this level, further up move can be expected.

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Axovant Sciences Ltd (NASDAQ: AXON) Put this stock at the top of your radar screen tomorrow. It is starting to show some strength with high volume upsides. The $2.50 level has been proved to be a strong resistance. More times the resistance has been tested, there is good chance for breaking above that point. With no resistance between this key resistance area and the $3 mark a break above the $2.5 level can see the stock trade in the $3 area pretty soon. Have this on your watch list. Im long.

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Aquinox Pharmaceuticals Inc (NASDAQ: AQXP) is a bottom play trying to make a shift in trend. Keep an eye on this one, there is a huge gap over 3.44. If the stock price rises to break into the gap, then we are likely to see a strong move up. Among oscillators, the stock shows a bullish divergence on MACD and RSI. From a technical perspective, I feel that there is a possibility for AQXP to go beyond $3.31 next week.

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Arcadia Biosciences Inc (NASDAQ: RKDA) seems to have bottomed as it recently bounced off $5.32 level and is starting to rise after breaking above its medium-term downtrend line. Given the recent strength in the stock price and the good fundamentals seems to be cheap buy at the current levels IMHO with a stop loss at $6. The technical daily chart above shows bullish signs as the stock is on top of short-term EMAs. In addition, MACD remains bullish while ADX is gaining momentum and is starting to signal the beginning of a trending change. Relative Strength Index (RSI) is also moving higher, which is a sign of growing strength in the stock. Still holding my long position. If it breaks on volume the $7 level, $10.29 is my first target.

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Innovate Biopharmaceuticals Inc (NASDAQ: INNT) had a very good bullish rally on Friday accompanied with large volume. The stock could touch an upside target of $7.73 in the short term. The technical chart shows the stock is now back to uptrend and with RSI above the 50 level we may see more upside. The ADX is also indicating a strong bullish outlook with +DI on top of -DI. Friday’s high was $7.32, which is resistance for the follow through move on Tuesday.

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I alerted Arsanis Inc (NASDAQ: ASNS) as a bottom play to my twitter followers before crowd when it was trading around the 1.92 level. Traders who saw the gold in my alert and took advantage of ASNS 20% climb, then congratulations! Friday’s high was $2.44, which is resistance for the continuation move on Tuesday. A break above this level will confirm the new bullish trend and the following uptrend will take price up to $3 zone. Im using the 2.18 area as stop (just in case to protect my profits).

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Evofem Biosciences Inc (NASDAQ: EVFM) is strong and getting stronger every day it seems. If the stock can close above $4.5 this week, then expect more upside. Alerted several times this stock in July and August around the $2.3 area. Patience is paying off.

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Galectin Therapeutics Inc. Common Stock (NASDAQ: GALT) has been on a remarkable run since mid-August and based on the price action and volume it does not look like the trend will change soon. Key resistance is located at 6.53, a break and close above this level will confirm the new bullish trend and the following uptrend will take price up to $7.5 zone.

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Professional Diversity Network Inc (NASDAQ: IPDN) Super thin stock but CEO is buying a lot of shares again of his own company. It shows that the CEO believes in the direction of the company. This stock could spike back above $4.5 a share quickly. On radar.

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.


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About Me

  • I'm a 48 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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