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Sunday, May 31, 2020 

Trading Setups for the Coming Week

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Aethlon Medical, Inc. (NASDAQ:AEMD) at $1.47 a share looks to be putting in a bottom. It has been floating around this range for several trading sessions and I think the stock could see a sharp move higher from here. The daily indicators are beginning to turn bullish again. The MACD is still negative, but has crossed above its signal line. Both the RSI and slow stochastic are in their bullish zones. Chart is also  showing signs of significant share accumulation. I expect the share price to begin its ascent back to recent highs of 1.81 before ultimately breaking and surpassing $2 NOTE: Institutions have been increasing positions.

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I have already outlined the many reasons why I like Verastem Inc (NASDAQ:VSTM) in my twitter posts. At $1.86 this stock, in my view, offers a tremendous opportunity to profit in the short-term. What do the technical indicators say? The daily MACD is above the signal line in negative territory, but is rising. The RSI has climbed back above the 40% level and Slow Sto remains in neutral zone. The bottom looks to be in and the risk of more bloodshed is a lot lower than it was weeks, or even days ago. Im still long.

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People can say what they want about  Aikido Pharma Inc (NASDAQ:AIKI) and its past, but what matters is what is happening right now. Honestly, and based on the recent news the company is turning the corner and the stock is starting to reflect that (large base formation). At some point the investment community will catch onto this, until then I think AIKI is a true bargain. Its a Coronavirus play "Licensing Agreement with University of Maryland for Antiviral Compounds, Including COVID-19". It has been rangebound between 64c and 82c for almost six weeks. The last decline did not test the lower end of this range, creating a higher bottom. I would not be surprised to see this range to be broken soon and the stock make new swing highs. Im long.

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CleanSpark Inc (NASDAQ:CLSK) has the perfect set up to make another big run after a nice pullback. The break out point would be at 2.18. From a technical standpoint, the stock is trading above the major Hourly EMAs with all moving averages pointing upwards. In addition, the hourly MACD indicator is curling up also indicating a buy. The stock is in the process of bottoming. At some point it will explode to the upside. Let's keep an eye on her.

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Arcadia Biosciences Inc (NASDAQ:RKDA) has made a higher high at $5.32 and now has pulled back to its previous breakout level around 3.40. This key price zone has provided multiple support levels and is now showing signs of reversal. With continued buying pressure I am looking for this stock to hit and pass its $4 area next week.

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Virgin Galactic (NYSE:SPCE) had a great day on Friday. If the stock can break out above 17.74 with heavy volume, I think the stock could shoot up to test 21 level. There looks to be good upside potential, so watch the stock very closely on Monday.

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Digital Ally, Inc. (NASDAQ:DGLY) also had a very strong day on Friday, breaking out above the $1 level on heavy volume. As long as it can hold this level, it looks good. Technicals are showing bullish signals supported by positive MACD and A/D indicators.

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There is a potential breakout scenario developing on the daily chart of  Qualcomm (NASDAQ:QCOM). Buy signal: When stock breaks $82

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Elastic NV (NYSE:ESTC) Flagging nicely here. A breakout above $87.16 would constitute a technical entry for the short term trader looking for a quick trade. Daily technical indicators are in bullish zones. The stock price has been consolidating sideways within a rectangle pattern between 76 and 87 for the past 5 trading sessions. Rectangles, in this particular cases "bull flag" are usually continuation patterns, with price target implications. An expected upward breakout can take the stock to a target of 98. Since the stock is trading in a clear bull market (above all major EMAs), one can use the consolidation to accumulate with a stop-loss at 75.78

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Turkcell (NYSE:TKC) coming back for another test of resistance. Long over $5.20

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WWE (NYSE:WWE) appears to be forming an inverted head and shoulders pattern. The neckline is around $47 and if the daily candle gets a close above the neckline then the chart pattern is valid. Long setup on watch.

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FireEye, Inc.(NASDAQ:FEYE) Traders continued buying up this stock as it surged again on Friday this time to the tune of 4.48% on solid volume closing above its 100-day exp moving average. Daily technical indicators are in bullish zones. MACD is rising above its signal line in positive zone and RSI has climbed past their respective 50% level. Slow stochastic has entered its overbought zone. The stock warrants some attention next week.

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Blackberry (NYSE:BB) is one of my favorite long term plays and the technicals are setting up in favor of the bulls. The stock is now approaching a key medium-term resistance zone around 4.80 ( 100-day EMA). A move above this technical level is likely to spark a short-covering rally towards $5.20 BB is also heavy shorted which only means one thing, squeeze. Keep an eye on BB, near breakout levels.

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.


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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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