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Saturday, November 21, 2020 

Stocks on my top watchlist for potential swing trades next week

 

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Pizza Inn (NASDAQ:RAVE) broke out of a bottom consolidation yesterday, jumping 15% on decent volume, reclaiming the declining 200-day EMA. Definitely one to watch on Monday. Possible gapper candidate. A growing number of individual cities are locking down partially their citizens again in a bid to curb the explosion in COVID-19 infections, so I think the delivery food sector will start moving again. From a technical standpoint, the stock closed above its 200-day EMAs for the first time in months and all short-term EMAs are turning up. Daily technical indicators are also in bullish zones showing upward momentum. As you can see on chart, if it breaks the 1.10 area a vertical move to $2 is likely.

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Dolphin Entertainment Inc (NASDAQ:DLPN) As you can see on the daily chart, volume is starting to come back and with it some positive price movement. We could be looking at the beginning of the next rally. Could pop over 75c. Daily technical indicators are turning bullish. Let's see what next week brings.

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Waitr Holdings Inc (NASDAQ:WTRH) not only broke the descending channel pattern on the daily chart that has been formed since the price reached the highs of 5.85, it also managed to reach the 3.90 area yesterday. I tweeted a potential big move in this name several times on Twitter last week, especially in the last two days. Any pullback to the former level will provide a buying opportunity for WTRH investors.

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Tilray Inc (NASDAQ:TLRY) Yesterday’s stock action confirmed the strength that appeared the day before yesterday. The pullback seems over on the daily chart. Buying dip is the name of the game now. Cannabis sector is also gaining momentum again. The 7.61 level is the current resistance for TLRY. If the stock breaks above this area, a confirmed buy signal will be triggered and my target will be set around 8.60 initially. I expect TLRY to even reach higher targets. Long setup on watch.

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OLB Group Inc (NASDAQ:OLB) If we look at the daily chart of this recent IPO play we will find a beautiful shape (rounding bottom pattern), a stock that attracts you to buy it. If the breakout above 4.40 (yesterday's high) is confirmed OLB can easily reach 5.2 due to its low float, which is a 20% increase in price. Money seems to be flowing back into the MJ sector again. This company Offers Payment Processing Options for Cannabis and CBD Merchants. As I always say, follow the money and the money looks to be flowing into this small one.

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China Finance Online Co. (NASDAQ:JRJC) Looking at this daily chart, it looks like a cup-and-handle formation, which could be construed as bullish. A confirmed breakout above 10 will lead to a renewed rise as we were expecting with a target around 15. While RSI is signaling a slightly bullish status, the ADX is gaining in traction and pointing highly upwards, signaling an upward trend. After over five weeks of remaining sub $10, JRJC could be in the early stages of a big rally. At some point the trader community will catch onto this. This stock will move quickly, so keep it on your screen next week. NOTE: Yesterday another China KXIN gained more than 100%, as i always say, it's just a matter of time.

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Platinum Group Metals Limited (NYSEAMERICAN:PLG) broke out to the upside of a flag formation on heavy volume, thus confirming its trend reversal. Could be more gains ahead for stock.

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OPKO Health (NASDAQ:OPK) The call options have been very active in this name in recent days, showing a more bullish stance. The 4.05 area is the major resistance for the stock. Those who want to enter the stock are recommended to step in at the breakout on volume. Such a breakout will lead to a strong rally on shares targeting initially the 4.76 level. Long setup on watch.

Most of us begin trading with a dream. That dream is typically to make a lot of money, with the least amount of effort to identify the kind of stocks we are interested in. It can be done either by thinking of sectors to look at or market caps to consider or some other similar parameter. Then we narrow down on a list of stocks from that criteria and add them to the watchlist. We constantly watch those stocks for inflection points or events and pull the trigger. Then we look for the right trigger to sell as well. This obviously involves a lot of work. From identifying to shortlisting to watching to investing to tracking and then finally selling. TradeIdeas looks like a pretty awesome tool for all of the above needs. They are offering a discount code (25% Off) that expires Monday, Nov. 23rd. I think it’s a totally awesome opportunity to get in while the doors are open and while it’s available at a steep discount. Click HERE and use this CODE: TESTDRIVERS25% (applies to first month or first year purchase). Have a wonderful weekend guys and Good luck for next week.

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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