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Saturday, September 28, 2019 

Stocks to Watch for September 30, 2019

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Global Ship Lease Inc (NYSE:GSL) is in a very strong bullish trend, having gained almost 50% this month. There's a high probability for a trend continuation in the next few days, as the stock could test the 8.50 area again. Next buy point is above Thursday's high at 8.19, with a stop loss at 7.55 EMA9

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GoPro (NASDAQ:GPRO) After drifting for weeks the price finally broke out of a consolidation on Friday accompanied by high volume. Yesterday’s high was $5.53, which is resistance for the follow through move. If the stock can break through this level next week, expect to see heavy volume drive the stock higher.

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Mersana Therapeutics Inc (NASDAQ:MRSN) The daily chart shows the stock is extremely oversold at this price level. Volume picked up a bit on Friday and the MACD is starting to curl up, suggesting that a positive crossover could be coming soon. Bargain hunters may want to accumulate MRSN stock at current levels and wait for it to trade out of the oversold conditions in the coming days. Note: President and Chief Executive Officer, will present a company overview at the 2019 Cantor Global Healthcare Conference in New York next week. At $1.55 a share, and considering this stock was trading well over $3.50 in August the risk for further decline is outweighed by the potential gain an explosive bounce would provide. Im long for next week.

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I have Performance Shipping Inc (NASDAQ:DCIX) on my watchlist. It may be ready to break out of this large consolidation. The break of the next key resistance line with heavy volume should be the next buy point. If it clears resistance at $1.05, the move may be powerful. Despite recent decline, the daily RSI remains above 50 levels and may support the bullish argument here. November is typically a crazy month for this sector, and based on the PXS move, traders are already accumulating these shares. May run higher, keep on watch. Im long.

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Guardion Health Sciences Inc (NASDAQ:GHSI) has bounced today off its 20-hourly EMA just above the critical support of 70c and rose 7.87% to $.795 The uptrend remains intact as long as this key support line holds (stop loss).

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CASTOR MARITIME/SH SH (NASDAQ:CTRM) could be in the early stages of a technical breakout. The stock price has been basing the past few days and just recently started inching above most of the consolidation area. From a technical perspective, the technical indicators are beginning to look bullish. The MACD indicator is rising above its signal line and the hourly RSI crossed above the 56 mark. Additionally, the ADX is gaining momentum. Let's see what Monday brings. Could squeeze over $2.92. Im long.

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Roku (NASDAQ:ROKU) continues to drift lower and is nearing $96, a level that has provided robust support in August. Might bounce here. However, overall the technical set-up remains negative with the stock below all three short-term exp moving averages.

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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