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Saturday, August 29, 2020 

Stocks to watch out for next week

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Blackberry (NYSE:BB) broke out Friday on decent volume and closed above the declining EMA200 for the first time in weeks. Friday’s high reflects resistance for this next upside move. If the stock can break through resistance, we should see another upside move as traders buy up the stock. Technical indicators are also giving the bullish signs. Next major resistance lies at 5.84. Keep it on your watch list going forward.

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Nice retracement to the breakout zone after a huge gap up earlier this month. SilverSun Technologies Inc common stock (NASDAQ:SSNT) is a possible trend reversal trade, if it breaks the 3.58 resistance area. Looking at the 4h chart the near-term outlook is positive. ADX is starting to point up and the RSI is also moving higher, which is a sign of growing strength in the stock. MACD is also giving a positive indication. SSNT will move quickly, so keep it on your screen next week. Im long.

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TMBR has reached extreme oversold readings that in combination with other factors (RSI shows positive divergences, Gap to fill, Deutsche Bank Ag and Morgan Stanley have purchased some shares this month Form 13F, etc...), including the investor conference could trigger a sharp bounce. I took a position on Friday.

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NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) is screaming for a bounce opportunity and I think we can see some nice moves ahead. Technically the MACD Hist is showing a bullish divergence and the RSI is beginning to curl back up, these are the perfect conditions for a short-term rally.

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TOP Ships (NASDAQ:TOPS) Watch the break of this flag for a new leg up targeting the $2 area. Stock has been under accumulation.

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Adial Pharmaceuticals Inc (NASDAQ:ADIL) remains oversold and is gaining momentum. I believe it is ready to post a nice bounce and I do not see any strong resistance on the technical chart until 1.92. Daily technical indicators are showing signs of turning around, with the MACD histogram showing the selling momentum started to diminish and the RSI starting to turn up from deep oversold levels. We have all seen how quickly this stock can head higher, when the buyers come. Play the bounce.

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VivoPower International (NASDAQ:VVPR) had a remarkable move up on Friday with very high volume. The heavy buying makes this an interesting situation and one worth watching on Monday. I believe we will see some nice follow through and a move to $10 appears likely. Definitely on watch.

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ExOne Co (NASDAQ:XONE) had a very bullish move on Friday breaking several resistance lines with large volume. Buyable on a pullback to the pivot.

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Marathon Patent Group Inc (NASDAQ:MARA) had a very bullish move yesterday on solid volume. Any break and close above 2.75 would validate this potential trend reversal.

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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