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Saturday, May 23, 2020 

Swing trade ideas for next week - Happy Memorial Day everyone!

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VECTOIQ ACQUISI/SH (NASDAQ:VTIQ) appears to be forming an ascending triangle pattern on the hourly chart while momentum indicators are inching upwards along with solid volumes. An ascending triangle suggests a bullish sentiment with an upward breakout. The stock is likely to make another attempt to cross the resistance zone at 26.9 in the coming sessions, so stay tuned. It needs to close above this level to indicate a continuation of the rally.

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Tocagen Inc (NASDAQ:TOCA) shares may be in a small consolidation phase (bullish flag pattern) following a nice rally on Monday. Daily technical indicators are bullish. The MACD is rising above its signal line and entered positive territory, while the RSI remains above its 50% level. Plus, all major short-term EMAs are moving up with the stock above them. If a breakout above the 1.7 level occurs next week, we could see an acceleration of momentum and move toward the 2-2.14 area.

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vTv Therapeutics Inc (NASDAQ:VTVT) also appears to be forming a bullish flag pattern and the stock is in the process of resuming the main trend. If the price can break out of the upper frame of this flag, a continued rise is likely, targeting the 3.8 area. Long setup.

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ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) Tweeted under 3.20. The stock price broke out of a large trading range pattern during Friday's trading session on heavy volume. I think we will see a nice follow through on Tuesday. This was a $4 stock less than 4 months ago. The daily momentum indicators are showing positive momentum to continue as MACD has generated a fresh breakout while RSI is moving upwards above 60 levels. The next resistance area is the EMA200 at 3.61

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Summit Wireless Technologies Inc (NASDAQ:WISA) showed buying strength all day on Friday. We start to see some signals of rebound as the daily technical chart shows positive momentum is back. If stock breaks 2.5 then the stock can head to 2.83 and if this level is breached then the level of 4 is visible (closing gap). I think its worth adding to your watchlist.

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Thermogenesis Holdings Inc (NASDAQ:THMO) From a technical standpoint the stock looks poised for a possible trend reversal, after dropping to the $6.3 level forming a potential double bottom on Hourly. This, along with oversold readings, could lead to the start of a short-covering rally.

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Nabriva Therapeutics (NASDAQ:NBRV) had a big pop on Friday and the stock price finally closed above the declining EMA50 for the first time in months. If price breaks above 76c next week, then we should probably see a significant move to the upside. PDUFA date of Contepo set for June 19

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Lianluo Smart Ltd (NASDAQ:LLIT) This penny stock is showing signs of bounce coming MACD cross. The stock is on the verge of breaking out and it could happen very soon. At this stage it is definitely a wait and see if the resistance will be easily taken out by the bulls. 49c break out watch. NOTE: Penny stocks are risky but if you know what you are doing and exercise caution when necessary you stand to gain large return on relatively small investments, so play accordingly.

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Remark Holdings Inc (NASDAQ:MARK) jumped 40 cents, or 21.5%, on Friday, closing just slightly below its high of the day in the 2.34 area. If that level is broken on Tuesday, the stock price short-term could accelerate towards the 2.6-2.68 zone, which represents the next resistance area. The volumes are strong at present levels along with momentum indicators. Hourly RSI and MACD both are hinting some more positive momentum to continue as hourly RSI is entering into overbought levels, so the very short-term movement should be treated as upwards IMHO. Watch the stock closely next week.

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Creative Realities Inc (NASDAQ:CREX) closed strong yesterday under active bidding. The stock is expected to move further higher as it has given positive close with increased volumes after six consecutive sessions of declines and is likely to continue the momentum for the coming session as well. RSI and MACD on 2h chart are turning up which might attract some more buying into the system. Possible trend reversal.

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Virgin Galactic (NYSE:SPCE) The stock has taken a strong support near its 200-days exp moving average and reverted just after touching those lower levels on Friday again also breaking out of a falling wedge pattern on the daily chart. The closing of the stock seems attractive to the bulls, which are likely to continue in the coming session as well. Long setup on watch.


A BIG THANK YOU TO ALL OF YOU: I just crossed 53000 followers on Twitter and reached 87000 followers on Stocktwits. The numbers of followers have grown tremendously over the past weeks. I'm especially grateful for your attention and interest. That's really nice and humbling to witness. Thank you so much everyone.

Screening or scanning for stocks is one of the most important elements in your investing strategy. Some of them are well done, other are not as well done. This weekend I strongly recommend to visit TRADE IDEAS They are offerring a generous discount of 25% off any new subscription's 1st month or year.

Memorial Day Sale — 25%: The code is: MEMORIAL
Test Drive Sale — 25%: The code is: LOVE2DRIVE

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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