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Saturday, May 02, 2020 

Eleven Bullish Setups for the coming week

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SG Blocks Inc (NASDAQ:SGBX) is trading at around the $4.07 range and a strong break past this level could generate a significant upswing. Hence, based upon current fundamental and technical factors, I believe that this stock could make an explosive move upwards, especially based upon the company’s recent developments and future possibilities. SGBX could be considered one of my favorite plays for the coming week after a strong performance Friday on a big red day for the overall market. I believe that the recent bullish activity could be a magnet for traders, since they have begun to increasingly focus not only on the company new partnerships but also on this healthly pullback, which has resulted in a recent solid increase in trading volume. From a technical perspective, the stock is trading very near to its EMA200 on 4h chart, and it could gain strength going forward given the recent strong rally. The 4h RSI is another indicator suggesting the upward potential that the company’s market valuation is currently possessing, currently at a 57. Plus, we have begun to notice a shift in the 4h MACD (indicating positive momentum of investments towards SGBX) and ADX is starting to move up again (it signifies that the bullish momentum is building on this stock). Put this stock on your radar and watch it trade.

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Edison Nation Inc (NASDAQ:EDNT) Could make strong move upwards on light resistance. The stock  has been in a rectangular pattern that could accelerate to the upside if it breaks above 2.25 As i tweeted on Friday, i took a long position on the name. With the spike in volume on Friday, and momentum surging, there is a high possibility that EDNT can appreciate in value during the coming days especially if resistance proves to be as light as indicators suggest. Put the symbol on your radar.

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Milestone Pharmaceuticals Inc (NASDAQ:MIST) moved up just over 31% on Friday with steady accumulation closing into the GAP. With the stock witnessing increased volume and technical indicators pointing up, this stock could have more room to increase next week. Keep MIST on your trading platform and watch it trade.

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iFresh Inc (NASDAQ:IFMK) is again approaching key resistance at 1.4 for the fourth time in 3 weeks. A break above this level could move the stock significantly higher as it attempts to break out of a rectangular pattern in place since its early April lows. MACD and RSI are in neutral zones, but showing a bit of upward momentum. Also the chart shows a golden cross, a very bullish formation. This Masks play deserves some attention next week.

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Cemtrex Inc (NASDAQ:CETX) broke this descending channel and have now held above 80c since. While the recent pullback has been deeper than i desired, the price has successfully tested the breakout and is setting up for a firm run to test the EMA100 around the $1.10 area in the coming days. If the resistance is as light as it appears, early entrants could yield strong gains. Definitely on watch. Im long. 

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Waitr Holdings Inc (NASDAQ:WTRH) The current uptrend is further reinforced by the fact that price bounces off the rising EMA9 and continues making higher highs and higher lows. Daily technical indicators are turning bullish. Daily MACD has crossed above its signal line in positive zone and RSI is in neutral zone, but showing a bit of upward momentum. All short-term EMAs are rising, and the stock is trading above them in a short-term bull market. The stock needs to convincingly cross above its intermediate top of 1.58 to technically confirm the reversal.

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Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC) I still like this stock for a nice rebound in price. It has held its current range while smart money is accumulating shares. I wouldn't be surprised if this stock popped 20-30% in one session soon, like MIST.

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Ocugen Inc (NASDAQ:OCGN) closed 7.35% higher to 33c after consolidating over 2 weeks within the narrow range. Friday's rally was driven heavy volume and positive money flow. The volume was the highest in about four months and nearly 10x its average volume. RSI has bounced back from 40 and MACD indicator is on the verge of crossing its signal line. The stock has light resistance going forward, with the next resistance 45c. I believe OCNG's recent trade history speaks for itself. Ready to make another solid uptick imho. Play what you see.......

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Remark Holdings Inc (NASDAQ:MARK) I brought to my readers/twitters attention at 30c in March and i was very criticized. It hit 61c on Thursday, doubled in just 5-6 weeks, not a bad investment when you have conviction. As Wareen Buffet says "The stock market is a device for transferring money from the impatient to the patient." ;) From a technical perspective, as long as the 48c support holds, the bias remains to the upside.

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NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) looks right on the brink of a breakout. The likely breakout from the consolidation zone is upwards. The stock closed Friday at 94c and I think any breakout would bring $1.2 and better into focus. It has been consolidating sideways within a 10c range for the past two weeks. All major EMAs are rising, and the stock is trading above them in a bull market. Watch NBY trade since it could provide solid gains.

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Sientra Inc (NASDAQ:SIEN) had another impressive trading session on Friday. The recent consolidation is nearing an end and the stock seems ready to embark on its next leg higher. Breakout watch over 2.85

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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