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Sunday, July 19, 2020 

Potential swing trade ideas for the week ahead

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This stock is lining up for a serious bull run and it has the potential to become one of the most explosive breakout play opportunities of the month. I continue to support the idea of a significant rally on shares of  Arca Biopharma Inc (NASDAQ: ABIO), probably even above the June highs. We still need to see a break and close above 7.80 to confirm a continuation to the upside with a next target in the 10 area. Due to its low float a parabolic move is also not out of the question. Daily technical indicators are beginning to turn bullish. MACD is about to cross the signal line, which indicates that the bulls are trying to take over and RSI has moved above its 50% level. There looks to be good upside potential, so watch the stock very closely next week.

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Ideanomics Inc (NASDAQ:IDEX) is showing signs of a potential upside recovery. MACD has stabilized and is crossing over its signal line. The August $1 call options have been very active. Next week watch the resistance at 1.43. A close above will be bullish and may test 1.76/2.0

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BioNTech SE (NASDAQ:BNTX) Flagging here. The buy/add point would be when it breaks over 87.58 on volume.

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Arcadia Biosciences Inc (NASDAQ:RKDA) displayed relative strength on Friday and broke out above resistance at the $3.75 level on solid volume. The 4h 20EMA has been a strong resistance for days. Watching if this can go into $4.5's next week.

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Nio Inc (NYSE:NIO) After a great run in the first half of July, the stock has been in a correction mode. $10.46 is strong short-term support. If the stock holds the support then expect a good rally towards the level of $12 and then $12.45. On the 30m chart the MACD triggered a new buy signal as the momentum indicator crossed above its signal line. On the other hand, if the stock breaks the support on volume, it can go down again to 9.5 (closing gap). Definitely on watch next week.

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I feel Sundance Energy Inc (NASDAQ:SNDE) is on the verge of a big bounce from these cheap levels. The stock has formed a large falling wedge in the last few weeks and is showing signs of bullishness. I would look for a move up to $3.25 in the coming sessions. If it passes that, there is very strong resistance at $4 coming up next.

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Hepion Pharmaceuticals Inc (NASDAQ:HEPA) closed up 10% on Friday and strong momentum appears to be building rapidly. The stock price broke out of a base formation on decent volume and could eventually rally up to test the 4.80 resistance zone again. HEPA has seen huge gains over short periods in the past and I believe this breakout could trigger another bull run. From a technical standpoint, the positive momentum seems to be back as the stock is back above the major medium-term EMAs with the RSI going up and MACD in the positive territory.

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FORESIGHT AUTON/S (NASDAQ:FRSX) is forming a large ascending triangle formation on the daily chart, which is usually bullish and could end up in a price spike on the break.

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SPARTAN ENERGY /SH (NYSE:SPAQ) has found a bottom here and looks poised to post a rally from current levels. We start to see some signals of rebound as the technical chart shows positive momentum is back. If stock breaks 15.81 then the stock can head to 18 and if this level is breached then the level of 21.5 is visible. Long setup on watch.

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Urban One Inc Class D (NASDAQ:UONEK) Still on TOP of my watchlist. Key resistance is located at $1.78, a break above this level will confirm a new bullish trend and the following uptrend will take the price up to the $2.5 zone. The MACD is turning up, which is a sign of growing strength in the stock. I think it's worth adding to your watchlist.

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JAKKS Pacific, Inc. (NASDAQ:JAKK) well-positioned as a bottom bounce play at 5.90 a share. I know that it is too early to say for certain but looking at the chart above is very likely. The stock took a big drop in just a few weeks, and is presently trading at levels very low. It's hard to believe, but the share price is now 50% cheaper than was in June and trading in oversold conditions. If it starts to move above $6 with strong volume, that will be an indication of a bounce. Keep JAKK in your watchlist.

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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