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Saturday, April 17, 2021 

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.

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TradeIdeas: It is a scanning tool that all traders should use. Click HERE

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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Saturday, April 10, 2021 

Ten symbols with interesting patterns to trade next week

 

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PVH (NYSE:PVH) is a candidate to be traded in breakout mode. The technical indicators are looking better for the stock with MACD indicator above its sell signal line, %K line on top of %D line and RSI indicator moving up from the 50 level. Keep an eye for a possible breakout over $110.89

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We are on the verge of a  possible trend reversal trade setup in the shares of Macy's (NYSE:M) after a healthy consolidation. The stock looks like it could be getting ready to go! Good technical and decent fundamentals here. The stock is worth a close look.

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My new big pick is Odonate Therapeutics Inc (NASDAQ: ODT). The stock made an awesome move yesterday breaking out of a major resistance line with volume backed confirmation. I went long at $3.85 as it's quite possible we should see a short term move near $4.97/share. The technical chart shows a bullish sign with %K line on top of %D line and MACD rising. Yesterday’s action in the share price leads me to believe that we may see a reversal trend at this level. To sustain this point of view, stock needs to sustain actual level in the days to come, so stay tuned to her. Mega Gap to fill here.

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Pyxis Tankers Inc (NASDAQ:PXS) is one for the bottom pickers. Upside volume is picking up and a rounding bottom is taking shape. I have been following and accumulating this stock for a few days now. The trend should resume back up in the very near future. I could be wrong, but I did not find a reason for the drop in shares as it did. It was likely a consequence of the negative market environment in the small cap index. Consider shares to be at a bit of a discount if my speculation is correct.  And honestly I have a lot of confidence regarding this.

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aTyr Pharma Inc (NASDAQ:LIFE) is beginning to make a move higher. Yesterday's fight toward the 20-EMA could represent the start of a larger trend change. Key resistance is located at $4.68, a break above this level will confirm the bullish trend and the following uptrend will take the price up to the $5.5 zone

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A move on  Fubotv Inc (NYSE:FUBO) above $26.2 could spark a nice short-squeeze next week. Looking at the technical daily chart there are several indications I see which suggest a potential bottom formation, including large positive divergences on MACD in daily. If the potential buy signal confirms itself, we will be looking for a move to the resistance area at $33.3-34.72, at the very least. Until that happens, traders will want to be on high-alert to the possibility of a bullish reversal. Long setup on watch.

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Building a nice falling wedge, holding above EMA100. A move on  Wisekey International Holding AG (NASDAQ:WKEY) above $12 could spark a nice short-squeeze. The stock will move very quickly, so watch the stock very closely over the next few trading sessions.

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I'm watching ATA Creativity Global (NASDAQ:AACG) again as the stock looks to be setting up for a big upside move in line with the other EDU China stocks. Potential upside of 60% exists for the stock, based on a current level of $4.06 and analysts' average consensus price target of $6.50. The stock should find initial resistance at $4.14 and further resistance at its 20-day EMA of $4.32

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Greenpro Capital Corp (NASDAQ:GRNQ) With Bitcoin making new highs, this stock should be in your watchlist on Monday. A break above 3.18 will impart bullishness and will help the stock move to the short-term target zone of the 3.75-4.1 range.

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Riot Blockchain Inc (NASDAQ:RIOT) Love this triangle formation on 4h chart. Needs to break out either side to see significant moves.

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 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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