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Saturday, October 24, 2020 

Stock watchlist for the coming trading week

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Remark Holdings Inc (NASDAQ:MARK) skyrocketed 40% or 45 cents to $1.58 per share on Friday after the company tweeted "First time $MARK @intel selling our technologies together," along with the detailed video. I see this news as very bullish. From a technical standpoint, the stock broke out of a descending channel formation that captured the mid-2020 bearish momentum on massive volume, signaling that a reversal is underway. The stock is now above its 50-day and 200-day exp moving average and if the upward trend can continue for another week and the 50-day moving average can cross on top over the 200-day exp moving average, then the stock will be ready for a big rally. Next major resistance lies at $1.98 NOTE: Wall Street analysts have a consensus price target at $4.25

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I made a nice trade on Globus Maritime Ltd (NASDAQ:GLBS) last week and I bought back the stock on Friday, expecting another leg up. This stock has a very low float (nearly 833000 shares float / outstanding shares 1.75M) and a history of making big moves. I would like to remind you that in November of 2016 a similar move (reverse stock split) was made by a Greek shipper company called DryShips reducing the number of outstanding shares to just 1.1 million. A few days later the stock recorded a nearly 2,000 percent return. I'm not telling you that GLBS will do the same, but we have to always look at the history of these companies to see the opportunities. For me, this is not a stock to invest in, just to trade because it has a history of dilution and discounted placings. However, I always take history as a mirror and look forward to the future. Watch the break of $8 on volume for another explosive move. Note: November is typically a strong month for Shippers.

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Tesla, Inc. (NASDAQ:TSLA) Very good consolidation in an ascending triangle pattern while volume is declining. This pattern within an uptrend suggests it should breakout to the upside, but a downside break is always possible. It is best to wait for these patterns to trigger before making a commitment. On watch.

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Supercom Ltd (NASDAQ:SPCB) The Company received an extension granted by the Nasdaq on Friday (after-hours news) a 180-calendar day compliance period, or until April 19, 2021, to regain compliance with the minimum bid price requirement. With the key momentum indicators displaying positive signs, share price could likely move higher next week testing eventually the recent highs around the 1.20 level. I was expecting the news, so now I'm more confident to increase my position.

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Yunhong CTI Ltd (NASDAQ:CTIB) had a great move on the upside Friday and closed above the 200EMA. The stock is setting up to break out and has one more level to go, which is $2.31

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Adaptimmune Therapeutics PLC (NASDAQ:ADAP) has achieved a boost during Friday’s market as traders witnessed the extreme oversold position, driving shares up 11.63%. I would like to see a break over yesterday's high of 5.16 to indicate possible bounce is on deck. I feel that fundamentally, the stock looks attractive at least for the short term. Long setup on watch.

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Altra Industrial Motion (NASDAQ:AIMC) broke through resistance at $43 accompanied with high volume. We should be able to see some decent upside movement for the bulls here. Buyable on any pullback to pivot.

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BlackBerry (NYSE:BB) has recovered nicely and can potentially set-up very well for a swing-trade if the stock breaks through the next resistance level at $5.25. Let's keep an eye on it.

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Allied Esports Entertainment Inc (NASDAQ:AESE) is already at oversold conditions with daily RSI (9) at 35. The daily MACD indicator has stabilized and volatility is dropping. On watch for a potential big bounce.

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Genius Brands International Inc (NASDAQ:GNUS) Volume starts to pick up again. Could make a huge move to the upside. Keep it on your watch list. A break of $1.61 with force might give stock room to $2

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Surface Oncology Inc (NASDAQ:SURF) momentum has become increasingly bullish over the past few trading sessions and the price is currently consolidating nicely above all EMAs. If it breaks above the intermediate resistance level 10, further up move can be expected.

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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