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Saturday, May 11, 2019 

Interesting setups that you should watch next week

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Overstock com (NASDAQ:OSTK) broke the downtrend line with a nice volume and 9 &13 EMA to the upside and as long as $13 level holds we see upside continuation. Yesterday, bulliish candle on a read market confirms the strength of bulls and it gives us a buyl opportunity. MACD and RSI also confirms the price reversal. Next major resistance lies at 15.61 (EMA50)

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Co-Diagnostics Inc (NASDAQ: CODX) The price broke the downtrend line and moved above the short-term EMAs. It gives us a signal that the stock becomes bullish and we have to search for buy opportunities. The bullish divergence on indicators also tells us about possible trend reversal. DMI is turning positive just as MACD has already done. It appears a reversal to the upside is underway. This stock should be able to rally into the gap zone. I entered long last week.

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Biopharmx Corp (NYSEAMERICAN: BPMX) is still in bottoming mode it looks like. The technical indicators are looking better now for the stock. The daily MACD is starting to rise, confirming a bullish divergence has taken form. As I mentioned earlier on twiiter, BPMX has had days when it exploded out-of-the-gates and made tremendous gains. We know that past performance is not always a guarantee of future performance, but we could learn from how BPMX has reacted in the past when it reaches extreme oversold conditions and in the past this stock has made double-digit moves upwards within one day. The stock has the potential to make a big run next week, so keep a close eye on it and don’t miss the trade. As i tweeted, im long.

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Marathon Patent Group Inc (NASDAQ: MARA) had a great move on the upside Friday, fueled by the strength of Bitcoin and closed at $2.92. The stock is setting up to break out and has one more level to go, which is $3.05

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Cool Holdings Inc (NASDAQ: AWSM) broke out from a falling wedge pattern accompanied with high volume. We should be able to see some decent upside movement for the bulls here. A positive MACD cross has occurred and RSI is moving up strongly. Next immediate resistance lies at 3.66 (EMA200).

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Village Farms International Inc (NASDAQ: VFF) price broke a consolidation resistance line with heavy volume. The technical daily chart shows buyers are back. With the surge this week %K line is again on top over %D line showing the stock is back to new rally. Also +DI crossed above -DI. A move towards $14 can be expected as long as $11 holds.

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Mustang Bio Inc (NASDAQ: MBIO) wants to break out and move higher. If we close above 4.5, we can run to 5 easily.

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Workhorse Group Inc (NASDAQ: WKHS) I think stock should pullback to $1.73 per share before making the next move. If support holds, then it'll advance again to a new high, but if support fails, then the next level of support is at $1.57. Any fall below this level will ring my alarm bells and would signal a definite reversal.

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Uber (NYSE: UBER) The first IPO day was a huge disappoint as expected. Stock needs to hold the $41 in order to avoid another sell-off.

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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