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Saturday, March 23, 2019 

Here are a few stocks to watch next week

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The stock continues to sit in a consolidation range. At some point, India Globalization Capital, Inc. (NYSEAMERICAN: IGC) will breakout and I want to be there for this move. There is strong resistance around $2.35 and if the stock stock can break through this level, there is a strong chance IGC can run back to the $2.6-3 range. On the downside, a break below $1.85 would be your first sign of weakness which could lead to bigger problems. So it should be used as your mental stop loss.

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aTyr Pharma Inc )NASDAQ: LIFE) broke the downtrend line that it established since June 2018 and traded nearly 3x normal daily volume. The has been under a buying pressure in the last few days, and overall the stock still looks healthy. The technical indicators look good at this stage, as seen in the chart above. The RSI indicator sloping up and crossing the 50 mark and MACD rising above zero line, which is bullish.I expect the shares to test prior highs in the $68c area in the coming days. There is a big event coming up soon. I have been accumulating this stock, not only because the event but also due to its strong cash position (As of September 30, 2018, aTyr had $56.0 million in cash). Watch the stock closely next week. Note: Earnings March 25th

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Tanzanian Royalty Exploration Corp (NYSEAMERICAN: TRX) broke out on Friday and made a new 52-week high of $.788. The stock had big buyers in it all day, but is now showing overbought readings. Buyable on any pullback to 68c-70c zone.

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Sorrento Therapeutics Inc (NASDAQ: SRNE) is one of the hottest stocks of Nasdaq right now. The stock has been on a non-stop rally since March lows but needs now to reset the extreme overbought conditions to provide some room to develop a new trend up. Keep watching the stock.

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Akari Therapeutics PLC (NASDAQ: AKTX) is still facing resistance around $4.3 area, however the technical chart still showing bullish bias wiht MACD indicating that the current short term price trend is very bullish. In addition, the technical indicator ADX is rising which indicates the trend is gaining strength. A break above $4.3 could trigger further upside momentum testing $5.50 initially then $7

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Seelos Therapeutics Inc (NASDAQ: SEEL) If the stock finds support around the prior support level, I will enter for a trade.

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Sunesis Pharmaceuticals, Inc. (NASDAQ: SNSS) broke out from a sidewards movement with huge volume on Friday, creating a significant amount of bullish potential. If the upward movement continue next week it may break out from its declining 200-ema resistance at $1.37

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Performance Shipping Inc (NASDAQ: DCIX) has had a hard time with resistance here but may be ready to move higher. The level which the stock may have trouble moving above is currently at $1.30 It would need to break above that level to run to $2. Watch the stock closely next week.

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Apple (NASDAQ: AAPL) made a significant downside correction on Friday. We need this downside correction as RSI already is in extreme overbought area on daily chart. We also should see this current downside momentum as consolidation/correction move. Immediate supports 189 and 185

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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