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Saturday, June 27, 2020 

Swing trade ideas to watch for the last week of June

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Ocean Bio-Chem, Inc. (NASDAQ:OBCI) What a year it has been so far! Many of you may remember that I brought this stock to your attention on April 4th when it was trading at 4.30. I was optimistic after the company upgraded its revenue and earnings guidance for 2020. Last week the stock hit a new 52-week high of 16.19, as investors continue to be attracted by the disinfectant coronavirus plays. From a technical standpoint, the bull run needs to work out overbought conditions and form a bull flag. The underlying bias remains with the bulls while above rising 9-day EMA at 10.87. Congrats to those who have been trading smart and winning.

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Sonoma Pharmaceuticals Inc (NASDAQ:SNOA) is another disinfectant play like OBCI that looks ready to post a big move. An Australian regulator recently gave the green light for the wound-care-product company to label its disinfectant and sanitizer Nanocyn as effective against covid-19. The stock has a small float and the company's ambitious turnaround plans should result in a higher price per share going forward. This stock was at $19 in May and fell to its current levels. With the dramatic increase of coronavirus cases, I would not be surprised to see this stock trade back to $10 or better in the short term. Watch this downtrend line next week, the eventual breakout could be powerful.

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The strong move in AIM ImmunoTech Inc (NYSEAMERICAN:AIM) shares was something that I predicted and tweeted the potential trend reversal on Wednesday. If you were following my official twitter/Stocktwits account you would have gotten the tweet when the stock was trading at 2.27. It ended the day at $2.71 on Friday, gaining more than 8%. If you jumped in and booked your profits, congratulations. For now, if the breakout holds then so does a bullish outlook.

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Jiayin Group Inc (NASDAQ:JFIN) support remains strong and this stock wants to trade higher from here. I think the patient investor will be rewarded. I'm still long.

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SuperCom Ltd. Ordinary Shares (NASDAQ:SPCB) is seen finding decent support near the confluence of 4h rising 50EMA and major horizontal support line (previous resistance area). I expect share price to resume its up trend after recent consolidation and head towards $2 in the short term. The 4h RSI has sailed above its 50% level during the recent consolidation highlighting strength in the underlying trend. Plus, the 4h MACD histogram is also turning up for the last three days. This indicates that the current consolidation is approaching maturity and the stock is set to resume upward momentum. Long setup on watch.

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Vaxart (NASDAQ:VXRT) I have no interest in shorting this stock, but it needs to fill the gap before it moves higher again. The recent rally was very steep and this pullback was needed to undo the near parabolic move stock made on its way up to new 52-week highs. I'm looking to enter long at about 6.2-6.5 and have some entries set up, but if it doesn't get down there, I will use the break of the upper line of the falling wedge pattern on the 15m chart to enter long. Definitely on watch next week.

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SG Blocks Inc (NASDAQ:SGBX) surged late in the session on Friday following a company tweet "Brooklyn-based company repurposes shipping containers for pop-up COVID-19 testing labs" Perhaps we should get a press release next week. The stock has been basing around the $2.75 level for the past two months and looks right on the cusp on a big breakout to the upside. The upward momentum is picking up steam. Long setup on watch.

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Blink Charging Co (NASDAQ:BLNK) is in a bullish formation. A break through this 3.05 area could accelerate it higher.

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BOQI International Medical Inc (NASDAQ:BIMI) price has been trading a very tight range for a few days. If it clears the key resistance level at 3.14 on volume the move may be powerful. Coronavirus angle. Im long

Thank you so much for those who helped me to reach 61000 followers on twitter !!!!

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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