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Saturday, July 11, 2020 

Top Stock Trade Ideas for the coming week

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Canopy Growth Corporation (NYSE:CGC) closed up $1.40, or more than 8.7%, on Friday to 17.42. The move broke the stock out of a triple-top short-term resistance level that contained the up move since late june. A move above 18 next week, would confirm the breakout and point next to a target zone of 18.65 to 19.90. Technical indicators are turning bullish. MACD has moved up to touch its sliding signal line in negative territory and daily RSI has crossed above its 50% level. Long setup on watch.

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Ageagle Aerial Systems Inc (NYSEAMERICAN:UAVS) jumped 39 cents or 25% on heavy volume, to close at 1.94 on Friday. That was the highest close for the stock since the beginning of June. Strong volumes and sharp volatility in the past few trading sessions indicate investor uncertainty, which often precedes a trend change. If the stock can break Friday's high on volume, I think the stock could shoot up to $2.50 There looks to be good upside potential, so watch the stock very closely next week.

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Sundance Energy Inc (NASDAQ:SNDE) is on your watch-lists yet? The stock closed at $2.7 on Friday up 10% and it appears that the momentum is just beginning. Shares broke the large falling wedge pattern on the 4h chart that had been in place since the middle of June on solid volume. The indicators are turning up supporting a further climb with a short-term technical price target of $3.25

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IZEA Worldwide Inc (NASDAQ:IZEA) Good long setup if it takes out the 1.16 price level on volume. I took a long position on Friday.

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Creative Realities Inc (NASDAQ:CREX) good relative strength compared to the sector. Look for a break above $2.50 to enter longs. MACD and RSI are still inside their respective oversold zones, though all two have formed rounding bottom patterns that may lead to an upward bounce in stock price. CREX will move quickly, so keep it on your screen next week.

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Cinedigm Corp (NASDAQ:CIDM) Long set-up on watch. Let's see if it breaks this downtrend line next week. Technical indicators on the 4h chart are in the process of correcting oversold conditions. I took a long position on Friday.

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Interpace Biosciences Inc (NASDAQ:IDXG) is building a nice optimistic formation under resistance at $5.40. Watch for a break through that price level to indicate that another push higher will occur. HCW has maintained the buy rating on the stock with a $11 price target recently. Long setup on watch.

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After a slow start on Friday, Heat Biologics Inc (NASDAQ:HTBX) saw its high of the day at 1.06 and showing strong bid support. Looks like it is getting ready for another breakout soon. Good upside volume on the daily chart. Technical indicators are bullish. Long setup on watch.

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BOQI International Medical Inc (NASDAQ:BIMI) is back on my watchlist for a possible bounce to immediate resistance at 2.30. Technical indicators are turning bullish. MACD is forming a bullish rounding bottom pattern crossing above its signal line in the negative zone. RSI has moved above its 30% level. A clear break and daily close above 2.08 could trigger further short-term bullish pressure testing 2.30 area.

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Moderna Therapeutics (NASDAQ:MRNA) I will be looking for a break of this  sideway trading range  with a general long side favored eyeing target at 75. Stock is trading above all three EMAs and technical indicators are turning bullish.

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CEI remains on watch for a quick reversal. It has been holding this range for the last two sessions and I feel the next move will be higher. This stock has a history of strong bounces every time it reaches extreme oversold levels. If things would repeat the price could potentially double. That's a penny stock, so play accordingly.

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Williams-Sonoma (NYSE:WSM) also looks great. The stock has been on a nice uptrend recently and could be ready to breakout again. Waiting for a break and closing above the 88.27 level for a long position.

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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