AC Investor Blog

Potential bounce plays for the coming week

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It has been tough times for everyone trading small caps in the last few days/weeks. They have been dis-connected from the other mid/big caps. Everyday things are changing and we have to make the decisions accordingly. These stocks are very oversold in every conceivable time frame, suggesting that downside price action is limited, whereas upside price potential is very significant. Meanwhile, yesterday, we already started to see some signs of recovery in some small caps, confirming that probably we will see some rotation going forward from big caps due to the overbought conditions to small caps clearly in the opposite situation. The Russell index from a technical standpoint is just making a pause on the upside move and a break of the 226.69 level should attract a lot of big traders to the small caps again. Call me crazy, but May might become the month of new highs for Russell. So watch closely this level of resistance next week.

In 1871, Baron Rothschild is purported to have said “Buy when blood is running in the streets”. While the streets are not running with blood at this time, to those invested in small caps, it certainly feels that way and I am currently buying new positions and accumulating some others at bargain prices.

I listed below some potential bounce plays for the coming week.

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SeaChange International Inc (NASDAQ:SEAC) Here is a good example of total overreaction in this small cap environment. This company closed an offering just a few weeks ago at $1.85, which was above the five-day average closing price of $1.26, something impressive for a small cap stock, demonstrating a tremendous investor interest. As I tweeted yesterday I took a significant long position on the stock at 0.945 (100000 shares) and increased at 1. There is no way this stock should be trading at $1.03 and current prices could qualify as the bargain of a lifetime. Another reason that we might have seen the bottom now is the fact that the stock printed a large bullish hammer candlestick yesterday on the daily chart. Plus, the accumulation/distribution line remains at high levels, meaning that the strong hands are holding not selling. I know that is a lot to chew on, but to sum it up, I believe SEAC is a bargain at these prices.

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If you were looking to get into CPS Technologies Corporation (NASDAQ:CPSH), now might be the last chance you get to get in this low. The stock should rebound solidly making these $8's look like quite a bargain down the road. I entered long before the close.

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WiMi Hologram Cloud Inc (NASDAQ:WIMI) Daily MACD triggered a new buy signal last week. Could start to heat up the next few weeks. The chart shows a stock that is looking to rally with $6.85 as the next logical price point. After that the 200 EMA comes in at $7.05 and the March high of $9.93 would be next.

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Liquid Media Group Ltd (NASDAQ:YVR) Watch the break of the upper line of this large falling wedge on the 4H chart for a big run. NFT play that deserves your attention.

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This stock has been one of my biggest disappointments this month. Honestly, I have still not given up hope. The financials for Borqs Technologies Inc (NASDAQ:BRQS) are not representative of a $1.12 stock, but rather a $2-$3 stock. At some point the investment community will catch onto this, until then I think BRQS is a true bargain 5G play.

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Genius Brands International Inc (NASDAQ:GNUS) On the daily chart, the price struggled to continue its downward move yesterday, and it closed with a doji candle formation after touching the major support level at 1.40. The doji gave a signal of possible price reversal upward, especially since it formed around the 1.50 area, which, although offered no distinct high or low, is congested with previous support and resistance levels. Possible bounce play next week.

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Tilray Inc (NASDAQ:TLRY) showing signs of possible bottom turn 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

Labels: BRQS, CPSH, GNUS, SEAC, TLRY, WIMI, YVR

19:17 | Permalink |

Good looking chart setups to watch next week

Dearest readers,

What a great trading week this past week and looks like plenty of opportunities for the rest of the year. Congratulations to those who have profited on this spectacular week, that is what this blog is all about, if it was not your case, never give up, there are always opportunities. Nothing in this market is easy, but with experience, discipline, instinct, and knowledge you can increase your chances at turning a nice profit. Be humble and the market will show you the way.

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Tilray Inc (NASDAQ:TLRY) There should be plenty of smiles to go around to everyone after yesterday's chart alert (tweeted at 7.45) not only had a big green day, but was crushing resistance levels like little anthills. I want to congratulate anyone that saw the opportunity in TLRY. Given the recent presidential elections there seems to have been a direct interest in multiple Cannabis tickers throughout this sector of which TLRY has considerable potential being a part of given recent performance. The technical indicators are looking bullish. The RSI has re-entered its bullish territory, the MACD is positive, and above its rising signal line. A break higher above 8.60 on Monday could spark another round of momentum buying. Keep watch because the technicals are indicating there could be more juice left in this stock, offering up multiple intraday entry points. Long setup on watch.

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Applied DNA Sciences Inc (NASDAQ:APDN) Another stock with a Cannabis angle. The cannabis legalization is directly connected to APDN traceability technology. The company offers Applied DNA Sciences Portal, a software platform that enables customers to manage the security of company-marked goods, DNA Transfer Systems and Cannabis Tracking System for real-time monitoring. Yesterday the stock made a strong move to the upside, closing near the highs. The stock is setting up to break out and has one more level to go, which is $7.25. The technical indicators are looking mildly bullish. The daily MACD is negative, but rising above its signal line and the RSI has managed to move above their 50% levels. The price can head towards the $8 zone. If this zone is surpassed, getting to $10 would be a possibility. The break of this chart pattern could fuel a short-term price spike because the stock technically has a lot of upside potential, so watch it closely on Monday. Don't be fooled by the large sell orders on the screen in a low float play, generally when a big player wants to sell a large sell order they hide or divide the order never expose it on the screen for everybody to see it. Be smart and dont play the stupid Market maker games.

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India Globalization Capital, Inc. (NYSEAMERICAN:IGC) Another name that I alerted yesterday via Twitter for the unusual volume detected. The stock displayed some impressive relative strength with a 30% gain. On the technical side, MACD and ADX all point to an upward trend while RSI is also rising. The stock broke and closed above resistance at $1.75 and should continue to move. The stock hit a high of $2 on Friday, which is resistance for Monday’s move. Keep it on watch.

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Genius Brands International Inc (NASDAQ:GNUS) technically also looks interesting. The $1.58 level is an important resistance that once broken will set off a huge run up in stock, the 1st target would be $2 which is the high of August.

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Canopy Growth Corporation (NASDAQ:CGC) Broke out to new highs yesterday on decent volume. It entered into the overbought zone RSI 76 but remains healthy, so let it cool down then buy it.

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FSD Pharma Inc (NASDAQ:HUGE) Potential breakout play. The break of this major downtrend line next week could be HUGE for this name.

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BlackBerry (NYSE:BB) Yesterday, the stock finally broke out of the range it had been trading in the past couple months with a strong close at $6.15. The stock could now move all the way to 6.89, which is the 52-week high.

If you've ever been curious about one of my favorite trading tools, there's never been a better opportunity to take advantage of this offer. TradeIdeas is offering 25% off for the Thanksgiving week. Click HERE and use this CODE: THANKSGIVING25% (applies to first month or first year purchase). It expires Monday, Nov. 30th. Trade-Ideas is my scanning platform. Have a wonderful weekend everyone.

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

Labels: APDN, BB, CGC, GNUS, HUGE, IGC, TLRY

12:58 | Permalink |

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.

AC

Labels: ADAP, AESE, AIMC, BB, CTIB, GLBS, GNUS, MARK, SPCB, SURF, TSLA

11:13 | Permalink |

Technical Setups to watch next week and my Trading rules

Dearest readers,

I continue to receive many emails from people asking me which books or sites I would recommend to learn about trading. To be transparent and direct, i can't find any book that could help you in this environment of uncertainty. In reality, there is no such thing as a perfect trading model, simply because the market is so dynamic and unpredictable in nowadays. However, I can share with you my trading rules.

First the charts to watch next week, then the rules.

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Adamis Pharmaceuticals Corp (NASDAQ:ADMP) finally broke the upper line of the ascending triangle pattern last week on strong volume accumulation. This is a good sign for a continuation of the trend. Overall, it looks bullish. A measured upside technical target after the break of the ascending triangle formation points to around 1.13, but when you combine the trend/momentum with the very strong bullish volume action on the daily chart, a test of the highs of 1.51 should be taking in consideration in the coming sessions. From a technical standpoint, all three major technical indicators are in bullish zones. Upward momentum on MACD looks strong and the RSI is also showing strong upward momentum. Let's keep an eye on it.

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Workhorse Group Inc (NASDAQ:WKHS) had a big surge in price and volume in September when stock price doubled in just 3 weeks. The stock has consolidated over the last couple of sessions and yesterday it broke the downtrend line to the upside on volume, so for aggressive traders like me, this can be a buy already. The stock hit a high of $27.11 on Friday, which is resistance for the follow through move. Charts on all time frames are bullish. You should watch this stock closely next week.

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Neovasc Inc (NASDAQ:NVCN) could be in the early stages of a technical breakout. Daily momentum indicators are showing bullish signals supported by rising MACD and RSI on the charts. On October 27 the FDA will hold a circulatory system devices panel meeting to review the premarket approval application for NVCN’s Reducer device. That catalyst should push the stock prices up even higher, which could give Neovasc stock the fuel to keep rallying.

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Electrameccanica Vehicles Corp (NASDAQ: SOLO) Daily technical chart is showing signs of a possible turn around. In terms of technical indicators, the RSI is starting to rise in the oversold zone while the MACD is crossing above its signal line. Plus, the rising 200-day exponential moving average has held the stock higher since the beginning of September and offers strong downside support. The trend is expected to begin the upwards movements. If the stock can break through $2.7 resistance next week, we should see a strong upside move. SOLO will move very quickly, so watch the stock closely.

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Allied Esports Entertainment Inc (NASDAQ:AESE) dropped from over $2.80 a share to $1.2's in a few weeks time. It seems to have found a strong support while money flowing is very positive and rising (smart money). Daily technical indicators are beginning to turn bullish. Let’s see whether the stock can gather enough momentum to break through $1.40 next week. Great bottom play. I took a big position for a bounce.

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Cancer Genetics Inc (NASDAQ:CGIX) I remain firmly behind this stock. I think this stock is worth accumulating in anticipation of a big move at some point. A break through this 4.75 area could accelerate it higher.

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Genius Brands International Inc (NASDAQ:GNUS) is building a nice base for take off. The area comprehended between $1.45 and $1.5 represents a strong resistance for shares. A close above this key resistance area would have positive implications and could drive the stock much higher. The RSI is gaining momentum and MACD is still showing a positive divergence. Keep the stock on your radar.

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TOP Ships (NASDAQ:TOPS) is another penny stock I am watching closely. If it clears resistance at $1.30, the move may be powerful. Let's keep an eye on it as I think momentum will pick up.

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I have Professional Diversity Network, Inc. (NASDAQ:IPDN) on my watchlist again. It may be ready to break out of this bottom setup formation. Potential swing long above 1.16 Low float stocks remains very HOT.

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Potbelly Sandwich Works (NASDAQ:PBPB) broke out in a big way Friday on decent volume. I think we will see a nice follow through next week. A break of $4.3 with force might give room to 4.63 then 5/5.05 area. MACD triggered a new "Buy Signal" for the first time in weeks.

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ReneSola Ltd. (NYSE:SOL) broke out to new highs on high volume. The uptrend remains intact and signals further bullishness on this stock. Daily technical indicators are bullish. Buyable on any pullback to pivot.

Based on my experience over the years, here are some basic trading rules that should be taken always in consideration for trading in order to become a successful trader in the stock market.

1 - The trend is your friend, so never go against the trend.
2 - Keep your losses small. Golden rule: Cut losses short. Let profits run.
3 - Use stops. The stop loss should be placed a few cents below the supports and not at the same level (i don't use SLs for low float or penny stocks).
4 - Learn the basics of fundamentals, charts and technical indicators.
5 - The good trader is one who makes consistent gains, so don’t be a greedy trader, appreciate the small and the big gains.
6 - Do not fear the market. Be always confident in your trade decisions.
7 - Never buy what you do not want, because you think it is cheap.
8 - Always be conscious that the loss may arise and you should be prepared for that to happen. Open mind.
9 - For large positions, you must have total control of the market never losing sight
10 -Volume is a leading indicator, so play the breakouts using the volume as support of your decision.
11 - Chart breaks without volume could be a trap and the probabilities of succeeding are low
12 - Do not be hasty to buy or sell a stock, every day there are new opportunities to make money. Being patient is the key to the success of any trader.
13 - Only believe fundamentals as long as the technical signals follow.
14 - Trading very speculative stocks is a frequent mistake.
15 - Do not trade positions too large relative to your available capital.
16 - Do not invest all your money in one company. Your portfolio must be diversified.
17 - The Greed to pick tops or bottoms is a usual error. Wait for the perfect and confirmed signal.
18 - Do not make trading decisions based on a story you saw in the morning paper. The market many times has already discounted the information.
19 - Review your missteps to improve your skills

NOTE: With patience and discipline, you can take much more from the stock market than you ever gave. Trading stocks is not easy for beginners or professionals, it is really very hard and requires a lot of attention and knowledge. If stock trading was easy, everyone would be doing it. You can be successful at the stock market, with patience, discipline and a good trade set-up. The key objective is to make money and not lose it.

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

Labels: ADMP, AESE, CGIX, GNUS, IPDN, NVCN, PBPB, SOL, SOLO, TOPS, WKHS

15:37 | Permalink |

Swing Trading Setups to Watch Next Week

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I think Happiness Biotech Group Ltd (NASDAQ:HAPP) has found support around the $1.90-$2.05 range and looks poised to post a bounce from here. I could see a 25-35% possible bounce up to $2.6 - $2.8 a share if we can get past the resistance point at 2.19 There are several daily technical indications I see which suggest a bottom, including large positive divergences on MACD and ADX on daily. If the potential buy signal confirms itself, we will be looking for a move to the resistance area at $2.6, at the very least. Keep it on your watch list going forward. Could be a high flyer on breakout. NOTE: On June 5, the Company successfully obtained the CE certification for COVID-19 anti-body testing kits. The company provides disinfectants, non-medical face masks, and COVID-19 anti-body testing kits.

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Kandi Technologies Group Inc (NASDAQ:KNDI) price had a nice surge a few weeks ago and has been in a correction mode since then, finding a strong around the $6 level. The stock is now displaying upside momentum again and is poised to move higher from these levels. Nearest resistance for the stock is at $6.73. If this level is crossed and the stock is able to sustain above this level, then it might go to $10. From a technical standpoint, the MACD is slowly turning up forming a buy signal and RSI is also showing signs of reversal. With Tesla battery day coming up, this stock must be on your radar next week.

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Remark Holdings Inc (NASDAQ:MARK) showed buying strength all day on Friday. We are finally starting to see some signals of rebound as the daily technical chart shows positive momentum is back. If stock breaks 1.38 then the stock can head to 1.98 and if this level is breached then the level of 2.5 is visible. I think it's worth adding to your watchlist.

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Seanergy Maritime Holdings Corp. (NASDAQ:SHIP) looks like a bottom formation here. A breakout over 56c with strong volume would send this flying. I went long on Friday following Reuters news "Baltic index posts weekly gain on robust capesize rates". I see a 70c move coming.

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Onconova Therapeutics Inc (NASDAQ:ONTX) made an awesome move breaking out of a major resistance line with volume backed confirmation on Friday. Should breakout hard to upside when it crosses over 40c Definitely on watch next week.

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Pacific Ethanol Inc (NASDAQ:PEIX) Continues to act strong setting new highs. Pullbacks to the rising 9EMA (yellow line) are buying opportunities. The upside is favored as long as this line holds.

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News Corp Class A (NASDAQ:NWSA) broke out to new highs on high volume. The uptrend remains intact and signals further bullishness on this stock. Technical indicators are bullish.

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Bio-Path Holdings Inc (NASDAQ:BPTH) saw its shares surged almost 4.5% to $4.44 per share on decent volume Friday after received a Notice of Allowance for its US patent application 16/426,798 titled "P-ETHOXY NUCLEIC ACIDS FOR LIPOSOMAL FORMULATION. On the daily chart, the stock has a strong resistance around $5.65, and a break above it should lead to a continued advance up to 7, the next strong resistance level. I like the stock at current levels.

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Retractable Technologies, Inc. (NYSEAMERICAN:RVP) appears to have successfully reversed its downtrend. The stock has some noticeable indicators suggesting that it is ready to make a move. Buyable on any pullback to pivot. Long setup.

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Genius Brands International Inc (NASDAQ:GNUS) is another stock I am watching closely. If it clears resistance at $1.41 (EMA200), the move may be powerful. The trend indicator MACD has triggered a new buy signal and also the RSI is on the positive side again. GNUS will move quickly, so keep it on your screen next week.

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Spartan Energy Acquisition Ord Shs Class A (NYSE:SPAQ) has been stuck in a range between $16 and $18 for much the last five sessions (healthy consolidation), waiting for some news to support the next movement on either way. Anyway, a short/medium-term bullish bias is favoured as long as the key support around 15.45 holds.

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Kodak (NYSE:KODK) had another big pop yesterday and the stock price finally closed above the $12 resistance level. Go long on the break of Friday’s high at 12.51 with a SL 10.82 Strong bullish volume on chart.

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

Labels: BPTH, GNUS, HAPP, KNDI, KODK, MARK, ONTX, PEIX, RVP, SHIP, SPAQ

18:49 | Permalink |

Trade Ideas for the coming week - Happy 4th of July !!

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Cinedigm Corp (NASDAQ:CIDM) had a great move on the upside and closed at $2.09 on Thursday. The stock is setting up to break out and has one more level to go, which is $2.40. It could be a good short squeeze opportunity on any positive news. From a technical perspective, key momentum indicators are showing clear signs of turning around. The 4h MACD is negative and below its signal line, but trying to move up and the 4h RSI has climbed out of its oversold zone. Watch the stock next week, because once it breaks through, it will run fast.

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Genius Brands International Inc (NASDAQ:GNUS) seems to have broken out of a major horizontal resistance on heavy volume that targets a move to 5 in the stock. Technically, the stock is in a bull market and showing signs of wanting to move higher. All three short-term EMAs have started moving up. Thursday’s intraday high of 3.95 is the highest level the stock has touched in more than two weeks. You want to keep GNUS on your screen for Monday’s trading.

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JAKKS Pacific, Inc. (NASDAQ:JAKK) another entertainment play to watch next week. This stock has just started moving higher and established a short term up-trend. Momentum indicators are slightly bullish now with RSI inching away above the extreme oversold level. The strongest sign of a bullish momentum is the MACD indicator which has just started to increase. The ADX is also showing positive signs on the stock. Price is expected to at least rally the next resistance at 92c and even go higher to test the next resistance level at $1.05. The forecast is valid only if the price of JAKK stays above 70c. I took a long position.

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Shiloh Industries, Inc. (NASDAQ:SHLO) traced out a nice setup and the upside breakout has a lot of power. Volume surged and this breakout looks like it is here to stay. There looks to be good upside in SHLO, so keep it on your radar the next few days.

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Electrameccanica Vehicles Corp (NASDAQ:SOLO) is bullish with a lot of hot indicators showing up. The slope of the recent upward move is very steep accompanied by increasing volume. The stock closed at $3.13, up 80 cents (+34.3%) on volume of 129 Million. SOLO has a good looking stock chart and the price broke out from the horizontal resistance mark around $3. All indicators are in favor of an upward price movement. Key intermediate resistance for the stock however exists in the zone between $3.5 and $3.6. This momentum could push this stock much higher from here, so keep it on the radar with a SL at 2.60

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I believe that Sunworks Inc (NASDAQ:SUNW) is poised to continue moving upwards. Thursday's pullback has probably attracted a ton of traders looking for an opportunity to jump into a stock that took a dip. In addition, there are several short and mid term technical indications suggesting that SUNW could make a move to higher levels. The accumulation on charts is huge. I like the daily time-frame for this stock and expect to see another upside move soon.

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Naked Brand Group Ltd (NASDAQ:NAKD) had a pullback into a strong support area and it held up reasonably well. I still like the chart of this penny stock and will watch the stock again on Monday. Resistance stays at 74c for the follow through move. Once it breaks this resistance level, we could see a quick increase in buying as momentum traders jump into this trade. I took a long position on Thursday for another swing trade.

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Workhorse Group Inc (NASDAQ:WKHS) closed the day gaining more than 9% to a new historic mark for stock at $20.91. The stock has been on one of the most amazing runs of this month. At the present level the stock is incredibly extended. Im bullish on WKHS, but in situations like this, I prefer to wait for a pull back rather than chase the market.

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InspireMD Inc (NYSEAMERICAN:NSPR) has printed a bullish Hammer candlestick pattern on Thursday. Maybe this is the right time to see a more significant rebound. A hammer is a type of bullish reversal candlestick pattern. The formation reflects buyers overtaking selling strength, and often precedes a continued rally in price.In addition, the technical daily chart is showing some bullish bias. Keep NSPR on your radar for a nice bounce in price. Note: This is a penny stock, so play accordingly.

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Shares of SG Blocks Inc (NASDAQ:SGBX) are starting to heat up again and are worth watching. If volume can pick up I think this stock can break through resistance at $2.82 and re-test its recent highs around $3.36

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This was a stock that I was looking at before the big move (I tweeted about a potential bounce this week, et voilá). If Chembio Diagnostics Inc (NASDAQ:CEMI) can break out above $4.38 with heavy volume, I think the stock could shoot up to $5. There looks to be good upside potential, so watch the stock very closely next week.

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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

Labels: CEMI, CIDM, GNUS, JAKK, NAKD, NSPR, SGBX, SHLO, SOLO, SUNW, WKHS

12:09 | Permalink |

AC Investor Blog

Seeking to provide independent day trading strategies based on Technical Analysis.

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