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Saturday, June 22, 2019 

Chart setups on my watchlist for next week

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Palatin Technologies, Inc. (NYSEAMERICAN: PTN) definitely on watch for Monday trading session. The company announced today that the U.S. FDA has granted marketing approval of AMAG Pharmaceuticals, Inc.'s New Drug Application (NDA) for Vylees (bremelanotide injection), a melanocortin receptor agonist developed by Palatin indicated for the treatment of premenopausal women with acquired, generalized hypoactive sexual desire disorder (HSDD). The FDA's approval of the NDA triggers a $60 million milestone payment to Palatin under its North American license agreement with AMAG. From a technical standpoint, over 1.74 the "sky" is the limit. The stock closed in after-hours at 2.11 with a gain of 57%

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Overstock com Inc (NASDAQ: OSTK) saw its shares surged almost 16% to $11.57 per share Friday after CEO Patrick Byrne told CNN yesterday at the Fortune Brainstorm Finance conference in Montauk, N.Y. that interest for its retail business had picked up. "Two very attractive acquirers that I would have put high up on my list have shown up". Besides that, the break of the $10000 mark by Bitcoin could also fuel the continuation of this rally next week. Key resistance is now located at $12.09, a break above this level will confirm a new bullish trend and the following uptrend will take price up to $14 zone. The daily RSI is moving higher, which is a sign of growing strength in the stock.

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Arlo Technologies Inc (NYSE:ARLO) is gaining some momentum again. The stock has made a strong bounce off of the lows that were posted earlier this month with high volume and closed last week above the 50-day exponential moving average for the first time in months, which is a positive sign. The technical daily chart shows that MACD is rising in positive territory, while the RSI is also gaining strength. Next resistance is located at $4.8 while there is some nice support around $3.84

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Ameri Holdings Inc (NASDAQ: AMRH) this small blockchain play could also benefit from the strong Bitcoin move next week. If a proper breakout happens at 39c we can see a target of 60c (EMA200 is located at 64c)

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Inpixon (NASDAQ: INPX) has posted some impressive moves in the past after forming a base pattern. Stock looks to be bottoming, could see a nice squeeze higher from here. Most of people dont like this company due to its diluition history, but we are here to make another great swing trade not to make investments. Thats said, im long.

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Obalon Therapeutics Inc (NASDAQ: OBLN) is in the process of bottoming and i expect a pop above $1 at some point in the coming days/weeks, and the FORM-S1 on Friday after-hours just confirmed my feeling that some news are about to come very soon. Looking at the daily chart, the accumulation is still there and this, in my view, bodes well for the stock. I don't think it will be long before OBLN is trading much higher form here.

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Dropbox Inc (NASDAQ: DBX) had a very nice day on Friday, breaking out above the $24.65 level on heavy volume. As long as it can hold this level, it looks good for a run to 26.49

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Pieris Pharmaceuticals Inc (NASDAQ: PIRS) keeps going higher, next breakout level to watch is 4.68

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Workhorse Group Inc (NASDAQ: WKHS) bounced nicely off the rising 20-day EMA last week. The stock should test the recent highs and possible new highs in the weeks ahead.

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HEMISPHERX BIOP/SH NEW (NYSEAMERICAN: HEB) CEO acquired 29,404 shares on Friday. The puchasing of common stocks from insiders should give a boost to the disappointing peformance of HEB stock which went from $14.81 per share in April to 52 weeks low of $3.62 per share on Thursday. Im expecting a nice bounce next week.

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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