AC Investor Blog

Stock Chart Patterns to Watch Next Week

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I've been following Kensington Capital Acquisition Corp (NYSE:KCAC) for a couple of days now and it looks like it may be turning here. The upper line of the falling wedge on the 30m chart looms above as resistance and I think it could easily catch some momentum and clear it. If the stock can break through resistance at 18 and close above it, we should see a strong upside move. Technical indicators are beginning to turn bullish. MACD is about to cross above its signal line, but both are still negative. RSI has moved above its 40% level and +DI is also about to cross over -DI signals trend reversal to bullish trend. The combined positive divergences means a likely up move above the 18 level. KCAC will move quickly, so keep it on your screen on Monday.

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Tesla, Inc. (NASDAQ:TSLA) recovered back above the $360 level last week, as bears failed to break under critical medium-term technical support. Technical indicators on the daily time frame are not giving a clear hint. MACD is in the positive zone, but has slipped below its falling signal line and RSI is at its 50% level neutral. Last week’s volumes were also a little muted, because of a holiday-shortened week. I think next week the stock is likely to make another attempt to cross the resistance zone between 398 and 400 but bears may not give up ground easily. From a medium-term perspective, as long as the lower trend line of the rising channel holds, the uptrend remains intact. I entered long again on Friday around 365

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Allied Healthcare Products Inc (NASDAQ:AHPI) appears to be poised for a nice bounce off this bottom.The stock has a long history of big bounces when the RSI touches extreme oversold levels. With COVID gaining rapid traction in the news again, this is a solid bounce play that should be kept on the radar. This company manufactures a variety of respiratory care devices and emergency medical products for use in hospitals and home health care. Daily technical indicators are beginning to turn bullish. This stock can shoot up to $10 in a blink of an eye.

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Superconductor Technologies, Inc. (NASDAQ:SCON) Need to see further upside confirmation on Monday before adding to the current position. The stock completely changed my point of view closing the week well positioned to start a bounce. Chart is displaying a buy divergence on the upside. If this pattern is resolved on the upside, the stock can potentially test $3.8 levels again. I really think this will go up to $4.5 - $5 a share if they release a catalyst news regarding the merge with Clearday because the float is very low. On watch.

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OpGen Inc (NASDAQ:OPGN) will be very interesting to see how this chart resolves. The stock has been basing in a very tight consolidation pattern and has been doing it on low volume, a buy now may be a bit early as a lot of resistance but a breakout would potentially move to the 3.5 level. Squeeze over 2.30. Watch the break of the pattern and play accordingly.

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Adial Pharmaceuticals to Present at the H.C. Wainwright 22nd Annual Global Investment Conference on September 16th. I love this Covid play at current levels (Rapid Result COVID-19 Antibody Test Kits). The 4h chart indicates that stock seems to be stabilizing and has formed a large falling wedge pattern, which is bullish. The volume has been quite modest for this name, and looking at the oversold readings of the RSI could power a rally that I think is coming. The stock will now be facing some resistance around $1.40. A close above this area will be very bullish and send the stock to next resistance area at $2

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Sorrento Therapeutics Inc (NASDAQ:SRNE) is still holding up well here and the stock has a chance to move higher. Looking at the positive divergence on MACD and RSI stock may break resistance line soon at 6.7. Definitely on watch.

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With the continued growth of Covid cases in India, this bottom play deserves your attention. Akers Biosciences Inc (NASDAQ:AKER) is a pure Covid19 vaccine research player for India. There are some signs that the stock is gaining some momentum in recent days. It is well oversold and a bull move is probable for the coming sessions. Plus, the technical chart shows some positive divergences. Keep an eye on AKER and be prepared for an upcoming move.

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Commercial Vehicle Group, Inc. (NASDAQ:CVGI) finally broke the bull flag pattern with a bullish candle. The stock traded decent volume as it hit a high of $5.21. This high is the next resistance for Monday’s continuation move.

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Workhorse Group Inc (NASDAQ:WKHS) remains one of the hottest stocks on the market and could be ready to break out of this sideways pattern. Price should become explosive if this daily chart pattern is broken to the upside with volume. Breakout watch over 24.49

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: ADIL, AHPI, AKER, CVGI, KCAC, OPGN, SCON, SRNE, TSLA, WKHS

15:32 | Permalink |

Chart setups on my watchlist for the coming week

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Vir Biotechnology Inc (NASDAQ:VIR) on Friday broke above the resistance line of a sideways pattern on a move up 4.14 or 11% to 41.46. The stock was up another dollar in the aftermarket. A move above the 42.4 level would confirm the breakout and continuation of the uptrend towards an initial target of 48. Daily technical indicators are looking bullish, and showing upward momentum.

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OpGen Inc (NASDAQ:OPGN) is positioned for an upside move above the $2.25 resistance line. The stock has been basing inside of a sideways channel pattern for the last couple of weeks. That pattern has seen the stock trade between $2.25 on the upside and $1.87 on the downside. With the daily technical indicators starting to turn bullish, if the key resistance level is crossed and the stock is able to sustain above this level, then it might go to $3.25

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Qualigen Therapeutics Inc (NASDAQ:QLGN) I think the risk of continued downside is a lot less than the possibility of a sharp oversold rally or big bounce at current levels. Buying stocks at or near their all-time lows, especially ones like these names that have not experienced much of a bounce recently, is a great way to find profitable trades on low float plays. In addition, the daily MACD triggered the short-term buy signal on Thursday. If the chart's history is any clue, this stock will post a sharp rally again from this major support. NOTE: This is a coronavirus play.

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Applied DNA Sciences Inc (NASDAQ:APDN) is another stock I am watching closely. It can pop big time on any positive news. Price broke the descending channel on Friday formed since the price reached the highs of 16.39. From a technical standpoint, the chart is displaying positive divergences on momentum indicators and with the stock oversold, these are the perfect conditions for a short-term rally. The RSI has also reversed the course and the daily MACD is starting to curl up, suggesting that a positive crossover could be coming soon. I would look for a move up to $9.02 resistance very soon.

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The technical chart of CAN FITE BIOPHARMA (NYSEAMERICAN:CANF) looks fairly appealing for a possible short-term trade. The stock is now displaying positive divergences on key momentum indicators and is poised to move higher from these levels. Nearest resistance for the stock is at $1.83. If this level is crossed and the stock is able to sustain above this level, then it might go to $2.20. Keep an eye on CANF next week.

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NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) seems to be a promising mask play to follow. The volume over the recent days has dramatically increased. There are some days when the normal avg volume is reached in the first two hours of trading, which means someone is accumulating a huge amount of shares for the coming days. If it breaks above 1.06, we can easily run to 1.50. Keep NBY on your screen for Monday’s trading session.

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Cocrystal Pharma Inc (NASDAQ:COCP) is another stock I am watching closely. The stock has pulled back on low volume after a big run-up, a healthy sign suggesting that it will resume the uptrend. Despite recent pullback, the daily RSI remains above 60 levels and may support the bullish argument. Additionally, the MACD still shows the stock is on the positive swing. Long setup on watch.

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Put SINTX Technologies Inc (NASDAQ:SINT) on your agenda next week. The company yesterday announced that in a controlled laboratory study, the SARS-CoV-2 virus was inactivated when exposed to SINTX’s sintered silicon nitride powder. The Company expects to share additional data soon, once the findings are published in a rapid-review forum. From a technical standpoint, the stock is still consolidating and may still have a chance to move higher here. If the stock moves above 90c it could rise to 1.32. Technical indicators are in bullish zones.

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Arca Biopharma Inc (NASDAQ:ABIO) is getting ready to come out of a basing pattern in the next few days. A close above $7.25 gets the party started.

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: ABIO, APDN, CANF, COCP, NBY, OPGN, QLGN, SINT, VIR

13:51 | Permalink |

Swing trade ideas for the coming week

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CymaBay Therapeutics Inc (NASDAQ:CBAY) price broke out of a bottom/accumulation pattern accompanied by strong volume on Friday and is now trading in the gap zone. This break confirms a short term trend reversal and the beginning of new momentum. Watch next week the break of Friday's high for continuation.

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Matinas BioPharma Holdings Inc (NYSEAMERICAN:MTNB) finished higher on Friday after bouncing off the 1.49 area, a strong support region that may represent the short-term bottom. The volume is picking back up, the MACD is still rising and in good shape thus far. It seems like the stock is setting up to break out and has one more level to go, which is $2.18 Long setup on watch.

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Obalon Therapeutics Inc (NASDAQ:OBLN) is a clear breakout candidate, as resistance around $1.96 is under pressure. The chart shows a bullish sign. MACD lines are going up and RSI is rising above the neutral 50 level, buyers strength still persists. If the stock moves above this key resistance area it could rise till 2.35-2.5

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OpGen Inc (NASDAQ:OPGN) was added to my watchlist as a possible bottom bounce-play. The chart is displaying positive divergences on momentum indicators and with the stock in oversold territory, these are the perfect conditions for a short-term rally. Squeeze over 1.34

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NF Energy Saving Corp (NASDAQ:BIMI) is moving inside a rectangle area indicating consolidation after significant bullishr momentum. The stock needs to break from the range area to see clearer direction. A break above 3.70 could trigger further bullish momentum targeting 4.20 region, while a break/close below 3.4 could change the short-term trend, but this is not likely to happen. Keep an eye on BIMI next week. This China energy name has that look.

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Synlogic Inc (NASDAQ:SYBX) Although it seems like there is potential for a further drop, this pullback could be part of a healthy continuation of the medium-term bullish trend.

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Ekso Bionics Holdings Inc (NASDAQ:EKSO) starts showing buy signals again. The stock closed the week above its 20-day moving average, which is a very bullish sign. Although the stock didn't perform well this year, we start to see now some signals of rebound as the technical chart shows positive momentum is back. I'd look to the 61c level moving as the next buy point. If it passes that, then we have room to run to next resistance at 74c. Let’s keep an eye on EKSO

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Myovant Sciences Ltd (NYSE:MYOV) has been pulling back most of this month, so far, but that should provide a better entry for another run higher. Looking for a possible entry near 14

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Synaptics (NASDAQ:SYNA) broke through the highs set in November on strong volume accumulation and should continue to move. Buyable on a pullback to the pivot.

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Nio Inc (NYSE:NIO) has been in a bullish consolidation over the last 3 weeks and appears ready for another breakout. Keep on watch.

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First Majestic Silver (NYSE:AG) continues to sit in a consolidation range. At some point, the stock will breakout and I want to be there for this move. The major resistance stays at $11.55. Fresh long should be made only when the stock closes above this level with an up candle on volume. Long setup on watch.

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Akebia Therapeutics Inc (NASDAQ:AKBA) Flagging. Breakout watch over 6.56

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: AG, AKBA, BIMI, CBAY, EKSO, MTNB, MYOV, NIO, OBLN, OPGN, SYBX, SYNA

19:34 | Permalink |

Swing trade ideas for the short week ahead

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Myovant Sciences Ltd (NYSE:MYOV) is getting again some buying and looks poised to post some big gains if the buying volume persists. A break above $14.60 with conviction (volume) and the next target is $17

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OpGen Inc (NASDAQ:OPGN) broke out of its down trend with an impressive showing on Friday. This could be the start of a new trend. Long setup on watch.

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China Internet Nationwide Fncl Srvcs Inc (NASDAQ:CIFS) has been in a slow steady tailspin for the last few months. Last week, the stock briefly hit 78c marking a fresh low for the year. It quickly bounced back on volume and we could have seen the lows for this stock over the short-term. I took a long position on Friday, expecting a strong bounce in the coming week to test initially the 1.3 resistance area. Yesterday was a great step in that direction. At current levels, and based on the long-term chart above the risk/reward seems favorable. Plus, some China names have been hot lately.

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Zafgen Inc (NASDAQ:ZFGN) some many remember how I had MRSN constantly on my watch lists and Twiiter posts. It took MRSN several days to start to move after I brought it to my Twitter followers. The same will be said for ZFGN. Recent price action for ZFGN seems to be similar to MRSN. For the first time in months, the stock closed above the declining 50-day EMA on volume and above the key resistance of 80c. I think $1.06 is doable short-term PT with similar buying, or an even better price depending on the action. Im long on the name.

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Unum Therapeutics Inc (NASDAQ:UMRX) continues to sell-off in impressive fashion. The time might be coming for a big bounce. A bounce that could send this stock back over 90c IMHO There is a big event in December 5th (Piper Jaffray 31st Annual Healthcare Conference, New York). Plus, the stock is extremelly oversold which could be another good reason for a sharp bounce. I took a long position on Friday.

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Conatus Pharmaceuticals Inc (NASDAQ:CNAT) Another interesting chart for penny lovers. Lets see if we can get a move back over $.36 The +DI line is crossing the ADX and this is a great sign for buyers coming into the stock again.This $.35 stock looks poised for a 20-30% short-term breakout.

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Akerna Corp (NASDAQ:KERN) soared 35% on Friday closing at $7.24 after hitting $7.70 and I brought it to the attention of my twitter followers at $5 on Wednesday. Congratulations to all who took a chance on this stock. Watch the 7.70 level for continuation.

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Valeritas Holdings Inc (NASDAQ:VLRX) this could be the next stock runner. At $1.50 this looks a lot like CMRX and it has the potential to pull a similar move. Squeeze over 1.57

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Cancer Genetics Inc (NASDAQ:CGIX) This is a stock that came up on one of my bottom scans. Stock moved nicely on Friday, as traders continued to eye a potential breakout in the name. Watch the break of this downtrend line for a run to test the recent highs.

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Clovis Oncology Inc (NASDAQ:CLVS) had another great trading session on Friday and this stock could continue to impress. Still on my watchlist.

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: CGIX, CIFS, CLVS, CNAT, KERN, MYOV, OPGN, UMRX, VLRX, ZFGN

18:28 | Permalink |

Swing Trading ideas for the upcoming week

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Shares of ZOOM (NASDAQ:ZM) are starting to heat up again and are worth watching next week. If volume can pick up, I think this stock can break through resistance at $71.1 (Friday's high) and re-test its daily EMA100 in the coming sessions. You should watch this stock closely on Monday.

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ADT Corp (NYSE:ADT) is a stock to watch closely on Monday. It continues to perform strongly and appears poised to breakout to new highs after a nice consolidation. Keep an eye on it for a possible breakout over 8.47

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CEI hit $1.80 yesterday and is worthy of a little attention. In all honesty, I dont like this stock, but it could see some more buying next week, so I'll have to put my own feelings aside. Technical's are looking up as we see only minor resistance at 1.80. Once it breaks this pivot level we can see it hit the higher levels in minutes. CEI is a trade for next week.

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OpGen Inc (NASDAQ:OPGN) is one for the bottom pickers. Nice bullish hammer candlestick printed on the daily chart, so in my humble opinion it could be a good entry point to start a long position. In addition, the stock remains in very oversold conditions.

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Valeritas Holdings Inc (NASDAQ:VLRX) showed more signs of strength on Friday's session, as the stock closed up 13 cents on the day. The stock has strong resistance around $1.61, and breaking above could take the stock to $2.34 in a very short time frame.

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Veritone Inc (NASDAQ:VERI) Upside volume is picking up and a bottom pattern is taking shape. The daily technical indicators are looking better for the stock with MACD flashing a buy signal, %K line on top of %D line and RSI indicator moving up. Keep an eye for a possible breakout over $2.88 NOTE: Director purchased more than 133k shares last week.

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I still holding Obalon Therapeutics Inc (NASDAQ:OBLN) patiently for higher expected levels ahead. The stock remains in a short up trend. Further rise to test 2.10 resistance is still possible, and a break of 1.8 will confirm such case. CEO is buying a lot of shares at current levels. They must know something positive about the company. Keep it on watch. Im accumulating.

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Scworx Corp (NASDAQ:WORX) the action for this stock was a little suspect on Friday after the company reported a strong revenue increase in the 3Q 2019. I was expecting a strong gain, but i forgot that many small cap stock investors do not like to hold these names into the weekend. The trading was likely old shareholders liquidating without knowing the true value of the report. I still like WORX for more gains.

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Globus Maritime Ltd (NASDAQ:GLBS) printed a nice doji candlestick on Friday's trading, which indicates a potential reversal. I believe there is a high probability of seeing a meaningful bounce in the stock in coming days as the stock seems to be forming a double bottom. There is a gap to be filled over 2.20

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FuelCell Energy Inc (NASDAQ:FCEL) After making a move from 39 cents to $1 the stock has pulled back and consolidated. It needs to work out the overbought condition to start a new rally. The stock withstood a sell off (Typical profit taking) after hitting recent highs and has been trading in a tight range ever since. Volume has been dwindling compared to the volume we saw at the start of this rally in early November. The risk is also there for a decline back to prior levels, but for now from a bullish perspective the chart look compelling. As long as the stock holds the 72c level, the uptrend remains intact.

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: ADT, CEI, FCEL, OBLN, OPGN, VERI, VLRX, WORX, ZM

19:30 | Permalink |

AC Investor Blog

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

Saturday, September 12, 2020

Stock Chart Patterns to Watch Next Week

Sunday, June 21, 2020

Chart setups on my watchlist for the coming week

Sunday, December 15, 2019

Swing trade ideas for the coming week

Saturday, November 23, 2019

Swing trade ideas for the short week ahead

Saturday, November 16, 2019

Swing Trading ideas for the upcoming week

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