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Saturday, August 24, 2019 

Just a few charts to share this weekend for the coming week

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Scworx Corp (NASDAQ: WORX) has been consolidating nicely since it rose from 1.9 to a high of almost 4.40 on volume accumulation. The stock could be ready for another rally. I think the $4 price point is worth watching from here. I think a break of it would send this stock at least another 50% higher or $6 PT ( this is the measured move target for stock). Technical indicators are turning bullish. Daily MACD has crossed above its signal line in negative zone and RSI is in neutral zone, but showing a bit of upward momentum. Add it to your watchlist.

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Obalon Therapeutics Inc (NASDAQ:OBLN) the daily chart is what has my interest. Such a dramatic fall will almost certainly at some point see a bounce. When it does bounce it should be a violent one and this stock has a history of huge bounces. Let's see what Monday brings.

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Pacific Ethanol Inc (NASDAQ: PEIX) appears to have bottomed. Recent news regarding the ethanol sector as well as some strong insider activity (CEO bought 100K shares last week) could be the impetus for a strong rally in these shares. Keep a close eye on the stock over the next few days for confirmation that a bottom was reached and a rally is underway. There is also a bullish divergence signal of a possible trend reversal, as the daily RSI and the MACD continue to print higher lows, suggesting that the stock may soon change direction.

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Zagg (NASDAQ:ZAGG) pulling back on low volume to support level. Based on the recent takeover rumors, this could be a good entry zone. Stock has been under strong accumulation.

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Fuwei Films (Holdings) Co Ltd (NASDAQ: FFHL) exploded higher on Friday with an impressive earnings report. I expect more gains early followed by some profit taking. Above you can see the 5m chart with support at 5.25 and resistance at 6.75. Trade this stock accordingly.

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Ibio Inc (NYSEAMERICAN:IBIO) continues to be one of my stocks to watch. Keep this one on your watch list. It is ready to post a sizeable gain from Friday's close.

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Silvercorp Metals Inc (NYSEAMERICAN:SVM) had a nice move Friday, as the stock set new 52-week highs. The stock hit a high of $4.01, which is resistance for the follow through move. Charts on all time frames are bullish.

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Diffusion Pharmaceuticals Inc (NASDAQ:DFFN) appears to be poised for a nice bounce off this bottom. From my point of view, the stock has formed a bottom in short-term and I expect a move past 2.39 to take the stock towards the target of 3.2 with stop-loss at 1.90

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Tesla Motors (NASDAQ:TSLA) needs to hold this key support level for some bullish action in the coming days/weeks. Definitely on watch next week.

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Fuel Tech Inc (NASDAQ: FTEK) has been in a major corrective phase in the recent months. The downtrend that commenced in late April appears to have been completed at the latest low of 81c. The MACD on the daily chart is starting to give a new buy signal and the share price could move to the short-term target of $1.17-$1.2. This view would be valid as long as the stock holds above 81c. Place a stop-loss at this level for long positions.

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 wish, I knew how to read charts i am just investing in EFTS and mutual funds.

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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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