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Sunday, May 09, 2021 

Potential swing trade ideas for next week


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I like this chart on BSQUARE Corporation (NASDAQ:BSQR) alot. Prob one of my favorites right now. It has been forming a potential large falling wedge pattern on the daily chart over the last few weeks, popped on good volume and retreated on lower volume. It looks like it may be starting to gain some momentum and should make a strong move very soon. The falling wedge pattern is a bullish pattern that signals continuation or a reversal depending on the prevailing trend. Basically, it can be defined by a set of lower lows and lower highs that slope downwards and contract into a narrower range before price breaks above the resistance line and a change in trend direction occurs. The technical chart above is clearly displaying a screaming buy divergence on the upside (MACD, RSI, ADX). Let's keep an eye on her as I think momentum will pick up.

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I've mentioned Chemomab Therapeutics Ltd (NASDAQ:CMMB) for the bulls out there. On Friday, Oppenheimer initiated coverage on the stock with an Outperform rating and announced a price target of $42 per share. It seems that analysts are also seeing what I'm seeing, a stock trading at bargain prices with a tremendous potential going forward and a very low float. From a technical standpoint, the stock has built a good support around $19.2 and $20 recently and does have the chance to go up. Any breakout above the $25 level next week would be a positive sign.

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Cinedigm Corp (NASDAQ:CIDM) The rising 200-day exponential moving average has been a good support reference point for this name to take long positions and that was exactly what I did last week. Lets see if we can get another leg up to retest the 1.60 area again.

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Murphy Oil Corporation (NYSE:MUR) Poised to breakout to new highs.

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United States Steel (NYSE:X) Nice breakout on strong volume. There is a good chance the stock will continue to move up next week.

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Sundial Growers Inc (NASDAQ:SNDL) Potential short-term reversal trend here. Momentum is coming back to this name. Might be worth watching for a new move to the upside.

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EHang Holdings Ltd (NASDAQ:EH) is setting up a possible resistance breakout trade. Go long on a close above 24 (Heavily shorted stock)

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Skillz Inc (NYSE:SKLZ) price closed above the upper line of the descending channel pattern originated from the April 27 high, creating a significant amount of bullish potential.  On the technical side, MACD and RSI all point to an upward trend. SKLZ has a lot of upside potential, so watch it closely next week. Next major resistance lies around the $18.21 level.

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Tenneco (NYSE:TEN) Setting up to clear this resistance area, go long over 13.12 on volume.

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Liberty Oilfield Services Inc (NYSE:LBRT) Nice volume on the breakout. Looks great for a test of the highs.

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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