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Sunday, December 30, 2018 

Stocks to watch in the coming Week and best wishes for a successful 2019


Dearest Readers,

First of all, please accept my apologies for the missing update of the blog over the last weeks, but in this period of the year my mind has been a little more focused on the family. Secondly, tomorrow i will not trade because im going to Lisbon to spend New Year's Eve. Lastly, I would like to thank you for your cooperation and support during 2018, with a high increase of followers on Stocktwits and a great increase in the number of followers on twitter. Wishing to all of you the best of the best for the new year.

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Apple Inc. (NASDAQ: AAPL) seems to be positioned to begin another bounce. Since the beginning of the month, the price action has been forming a descending channel on the hourly chart and a breakout is needed for further direction to be divined. Technically, the break to the upside is a strong indication that prices are headed higher. The standard MACD on the daily chart has been in divergence mode since last week and the price may rally towards the 18 December high of 167.53. Contrariwise, the price may fall to test the 24 December low of 146.59

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Qualstar Corporation (NASDAQ: QBAK) at breakout point. Solid company with great earnings and announced recently a significant stock repurchase program ($2.4 million). Stock recovered nicely last week and can potentially set-up very well for a swing-trade if the stock breaks through the resistance level at $5.25. The stock at least can hit the 100 day moving average at $6.46 cents per share. This company has no debt and a strong balance sheet. I love the risk/reward so long as it holds above the $4.60 area and expect to see another strong upside move very soon. Watch to see what it does here.

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Canopy Growth Corp (NYSE: CGC) In the short-term, I identify an opportunity for an upside recovery in this name, which remains to be confirmed. We have not had a clear capitulation to stop the cuurent bearish trend in progress but the major support around $25 which we arrived a few days ago have held, it managed to stop the decline. Technical daily indicators are showing some signs of recovery. MACD is poised for a positive crossover while its RSI is slowly picking up. Plus, on daily chart above a bullish pattern can be identified (falling wedge). On watch.

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I've mentioned ENDRA Life Sciences Inc (NASDAQ: NDRA) for the bulls out there. I stand by this position. The stock made a nice bounce last week and looks ready to continue imho. The Stochastic Oscillator is registering a bullish signal as the %K has crossed above the %D while MACD is also crossing up. The nearest trend is in favour of Bulls and NDRA has room to go higher. If the stock can break through $1.85, we should see strong volume drive the stock higher. Pattern: Possible double bottom. Stop 1.50

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Maxar Technologies Ltd (NYSE: MAXR) stock bounced strongly on decent volume and a rally to over $13 is highly expected. This makes it a stock to watch for technical traders.

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The near-term trend in Nio Inc (NYSE: NIO) remains mildly bullish, however, overall price is trading in a large sideways trading range. Long-term resistance stays at $8.35, which is a big area that the stock needs to break in the coming days/weeks. The technical daily chart is showing a possible bottom here. The %K line has just crossed on top over %D line showing buy signal as RSI is at oversold level. Immediate resistance 6.72

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Aphria Inc (NYSE: APHA) looks ripe for an explosive move upwards again while takeover rumors continue to spread. The stock had a bullish momentum on Friday, gaining more than 12% and closing near the highs of the session. With the bulls pushing shares higher, I expect the stock to see a continuation of high volume and price appreciation next week. Technically Speaking, this stock is showing signs of an upcoming breakout. I believe the stock is gaining momentum and could keep running !! Watch the stock closely.

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The area comprehended between 52c and 56c represents a heavy resistance for Globalstar, Inc. (NYSEAMERICAN: GSAT). At this stage, the stock is extended for additional positions, and is near the overbought zone. I really like the chart but at this level I would wait for a pull back before putting any cash to work. A close above 56c on volume would have positive implications and could drive the stock much higher. Keep GSAT on your radar.

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Sangamo Therapeutics Inc (NASDAQ: SGMO) I continue to watch this long-term downtrend line, if it can break up through there, its worth it for me to buy for a trade. This is a stock to keep an eye on in the future. On the downside, there continues to be solid support around $9.50. Short-term technical indicators are improving and MACD histogram bars are slowly picking up while RSI is neutral around 50. Keep an eye on it.

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The selloff in United States Steel Corporation (NYSE: X) has stalled. The medium--term trend is down, but this is a good spot to speculate on an oversold bounce. The stock has recovered from its its 52-week low of $17.08 hit on Wednesday and closed Friday at $18.25. The current rally should at least push the stock to $20 per share where the major resistance is. X needs to close above this level to indicate a continuation of the rally. If this rally fails, there’s a new downside risk.

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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