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Saturday, July 06, 2019 

Some interesting chart setups in the bigcaps and smallcaps to watch next week

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Qutoutiao Inc (NASDAQ: QTT) made a strong upside reversal Friday on solid volume. The daily technical chart above suggests that stock might find now resistance at $4.61. Only a close above this level would suggest further upside. I think this could be the spark of a new bull trend in the making. I'm watching for a follow through move on Monday.

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Aileron Therapeutics Inc (NASDAQ: ALRN) has fallen in a slow steady decline from $1.7 down to 61c with nary a bounce. I think that bounce is coming and it will be impressive to behold. The stock is likely forming a double bottom pattern and it could stage a decent recovery above 75c. There is a big catalyst in September ( ALRN-6924 and IBRANCE), so this could be a good spot to accumulate shares. At extreme oversold conditions and with a positive MACD divergence on daily, i decide to start buying shares on Friday for a possible big bounce from current levels. Risk/reward seems favorable. Short-term target 1-1.1

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Leap Therapeutics Inc (NASDAQ: LPTX) seems to have broken out of a major horizontal resistance that targets a move to 2.5 in the stock. The daily technical indicator MACD shows the stock is still in a positive momentum.

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Precipio Inc (NASDAQ: PRPO) back-tested successfully the breakout point last week and we can now move higher to test Monday's high of 4.39 Still on my top watchlist. I think this stock deserves some watching in the coming days. If the buying continues in earnest things could get very interesting.

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Revolve Group LLC (NYSE: RVLV) After touching a high of $48.36 a few weeks ago, the stock has been in a corrective phase. The stock made a nice move on Friday, breaking a key resistance and looks ready to continue on Monday. Short-term outlook is positive and a move to 40-42 range appears likely.

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Viveve Medical Inc (NASDAQ: VIVE) is forming a bottom or hit bottom Friday and look ready for a rebound. I really like VIVE here at 35c/37c and think based on the recent pennymania momentum that it could do a 50-100% type run from here. I might be a little early with this call, but in the end I think it will be very profitable.

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ShiftPixy Inc (NASDAQ: PIXY) over the last trading days has seen its stock rise from 34c to a high of 65c Friday. Volume has also been on the rise. Chart looks bullish. Keep an eye for a possible breakout over 65c. If you don't have this stock on your watchlist yet, I think now is a good time to add it.

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India Globalization Capital, Inc. (NYSEAMERICAN: IGC) closed higher on Friday as the stock looks to be bouncing off support. The stock hit a high of $1.64 on Friday, which is resistance for Monday’s follow through move. IGC can be a fast moving stock, so keep it on your radar and be ready for this upside move.

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AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO) There is something important to point out in this chart, the volume is daily decreasing which could mean that the current trend will probably not continue and a reversal may be imminent. When company insiders puts hundreds of thousands of their own money into their stock, you have to believe they are doing it for a reason. They purchased a lot of shares at 1.14. This stock tends to make violent moves to the upside at support.

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Northrop Grumman Corporation (NYSE: NOC) is coming up to a big level again. I will be watching this stock closely on Monday as I expect to see a strong move once the stock breaks through resistance. A move past $325.58 would be a strong indicator of a further uptrend in the stock. Technically the stock looks solid trading above all key EMAs. My model is long.

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.

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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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