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Saturday, December 19, 2020 

Small caps to Watch Next Week for Trades

Dearest readers, 

First of all, I would like to thank you all for your messages of Prayers, Condolences and solidarity at these moments of our bereavement. May God repay you for your gratitude and empathy.

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Marin Software Inc (NASDAQ:MRIN) could we be looking at the beginning of another big rally? This stock surged late in the session on Friday closing above the $2 mark on strong volume accumulation. This stock has been flying under the radar of many traders for quite some time due to Marin's integration with Amazon and deserves a look going forward. Chief Executive Officer Chris Lien highlighted the importance of Amazon as part of a digital marketing strategy in November after the announcement of the financial results for the third quarter ended September 30, 2020. I think the news is positive and the company is really starting to turn the corner. This formerly $5.7 stock now trades for $2 a share. I think the stock could rebound smartly from here. From a technical standpoint, it has a very interesting daily chart and could have a bigger move soon. The break of the next key resistance line 2.05 (Friday's high) on volume should be the next buy point. If it clears this resistance the move may be powerful. The buy signal shown in the 4h chart above was generated when MACD crossed up signal line indicating a possible uptrend in the future. Plus, it broke the major downtrend line and RSI is also above the 50% level. This chart definitely looks like a bottom chart to me. Let's see what next week brings.

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Ever-Glory International Group Inc (NASDAQ:EVK) A closer look on the 4h daily chart of EVK reveals a potential rounding bottom reversal pattern. The short term trend  is starting to turn up and momentum appears to be in favour of another strong upside. A sustained move above 3.80 will signal further presence of buyers and will provide more strength to the bulls, this could trigger acceleration to the upside with $5 as the next target (gap zone). Presently, it is trading above all minor EMA lines and candles are generating trend reversal signals. All odds are in favor of the bulls and indicating a bullish signal. I'm long.

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India Globalization Capital, Inc. (NYSEAMERICAN:IGC) The way bulls have shown their aggression on Friday afternoon, could indicate the potential for some upside gains in the very near-term. The 4h chart shows a stock that is looking to rally with $2.20 as the next logical price point. After that the November high of $2.66 would be next. From a technical perspective, I observed that stock has bottomed out which is providing a bullish signal. Long setup on watch.

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China Xiangtai Food Co Ltd (NASDAQ:PLIN) appears to have bottomed. News out last week as well as some filings could be the impetus for a rally in these shares. Keep a close eye on it over the next few days for confirmation that a bottom was reached and a rally is underway. On Friday (Form 6-K) the company closed a private placement financing of 704,762 ordinary shares at a per share purchase price of $1.50. Nobody pays a 50% premium for a stock without a clear reason. Something is cooking IMHO. This company has announced great contracts recently. I took a long position.

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Ageagle Aerial Systems Inc (NYSEAMERICAN:UAVS) showed some nice strength yesterday, despite the weak market. Price broke through resistance at $3.92 accompanied with high volume. The stock hit a high of $4.28, which is now resistance for Monday’s continuation move. If the stock can break through resistance, we should see another upside move.

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Cemtrex Inc (NASDAQ:CETX) has been consolidating in the 1.25-1.4 range since its big surge in price and volume in November. Yesterday, the stock broke out of a bull flag pattern that has formed in this consolidation process. The top of the range now represents the major key resistance level, which if broken could lead the price towards the July highs around the 1.95 area. Additionally, the accumulation indicator shows the strength of conviction behind this Bullish trend. Let's keep an eye on it.

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 47 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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