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Saturday, January 08, 2022 

Potential trading setups for the coming week

 

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Draftkings Inc (NASDAQ:DKNG) The stock is bouncing after seeing weeks of strong downward movement. While DKNG's short-term trend seems to have reversed, a close above the pivot pocket 28.80 could lead to more relief and confirm the possible bottom. I think we could see more gains next week as the heavy volume of the last two days should attract some more bottom feeders. As I tweeted on Thursday I took a position around 24.5 and doubled it on the break of 25 looking for an initial target around 30.7 Lets see what Monday brings us.

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Fubotv Inc (NYSE:FUBO) May have put in a short term bottom, could see potential a $1-$2 move from here.

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Wish (NASDAQ:WISH) The first green closed in a bad tape. Is this the bottom signal we needed finally? I think some of that money is heading toward the bottom plays. This stock just in the past year has dropped from $32 a share to $3 and now rests at $2.76 a share. How did it get there? There are so many different answers, but I'm not sure which will be the correct one. What I know is that this is a legitimate company that has significant potential with a new staff full knowledge and experience in this particular biz. Honestly, i think we are near the bottom if not the bottom. I wouldn't be surprised if this stock pops 30-50% in one session soon, like it did in the past. Call me crazy, but I'm still long and with a significant loss at this moment, something that it is not so popular to admit for an influencer with a huge number of followers, but I have nothing to hide. Losses are part of the game, and fortunately I can afford it if my strategy fails, because I don't play with margin. Do you remember when I told you I would double my money with Blackberry? I did it last year, so if you trust in your strategy and have time to wait, sooner or later you will win.

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Indaptus Therapeutics Inc (NASDAQ:INDP) Over 25% of INDP's tradable shares are in the hands of short sellers, meaning they sold the stock and are holding for further declines. Unlike buying a stock, when you can only lose as much as you invest, a short seller's loss potential is unlimited, which is one of the reasons why short squeezes occur, specifically in stocks like INDP with a thin public float. Chief Executive Officer, will participate in a pre-recorded presentation at the H.C. Wainwright BioConnect 2022 Virtual Conference made available on Monday, so stay tuned. The stock has built a nice base, which suggests the shares could keep moving significantly higher in the coming months. Definitely on watch next week.

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Amesite Inc (NASDAQ:AMST) This penny deserves your attention going forward. The stock is on the verge of a technical breakout. Positive money flow.

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Digital World Acquisition Corp (NASDAQ:DWAC) I still feel a push to $90 - $100 is entirely possible. This was a $175 stock less than 3 months ago and once it starts to squeeze higher again there is really no telling exactly where it will go. One thing we all do know, shorts need to buy back stock to profit from their bets, which only adds more fuel to the fire. Former President Donald Trump’s social media app, Truth Social, reportedly is available for pre-order before its scheduled release over the Presidents' Day holiday weekend. On Thursday, reuters said a source familiar with the matter confirmed that Feb. 21 is the planned launch date of the app. This could be a historic squeeze and one that will be fun to watch. We could see buyers step in before Feb 21, shorts cover, and an overall lack of supply lead to a big jump in price per share. I took a long position last week. Note: I blocked a lot of people last week because i bot this stock. I don't support any party, i'm here to make money, period.

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Singularity Future Technology Ltd (NASDAQ:SGLY) The last few days have seen increased volume and price. This is worth watching and possibly stepping in for a trade at some point. Breakout watch over 5.5

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Exela Technologies Inc (NASDAQ:XELA) This sub $1 stock has almost $1.2B in annual revenue and the company’s long-term debt was reduced by approximately $454 million recently. Plus, they announced on Dec 8th that B Riley Securities, Inc. (“B. Riley Securities”) and certain other investors have purchased an aggregate of $35 million of the Company’s common stock. In addition, the Company’s management and board members also purchased, in aggregate, more than $1 million of the company's common stock. Exela’s Executive Chairman, noted recently that the company is undervalued on multiple metrics. I think the stock deserves a much higher trading price per share. Might bounce till previous support.

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Wisekey International Holding AG (NASDAQ:WKEY) This daily chart is one to watch for a potential bottom. The MACD is starting to curl and I could see this $4.3 stock recovering at least 30-50% from here. Another stock that the CEO said recently that's significantly undervalued.

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TMC the metals company Inc (NASDAQ:TMC) has been pulling back on very low volume over the last 5 sessions after it breached the upper line of the large falling wedge that started in September. Insiders have been very active lately. We could be in the early stages of a nice rally for this stock. Keep a close eye on it going forward.

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DISCOVERY COMMUNICATIONS INC. (NASDAQ:DISCA) displayed some impressive relative strength Friday with a 16.87% gain on heavy volume. I think we will see some nice follow through next week. Next major resistance lies at 35

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Greenbox Pos (NASDAQ:GBOX) made a nice upside reversal Friday in a weak market. It may be ready to break out of this potential bottom setup. Breakout watch over 5.43

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Neurometrix Inc (NASDAQ:NURO) is showing extremely oversold conditions on the daily chart while the daily MACD has formed a bullish rounding bottom. Keep this one on watch, it could be setting up to break out of this large triangle formation. If it breaks next week, we could see +$7.5 quickly.

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Peloton Interactive Inc (NASDAQ:PTON) Setting up to clear this downtrend line, keep on watch.

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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Sunday, December 19, 2021 

Xmas rally or massive short squeeze ? I want both.... A few names to watch for the Xmas week

Massive short squeeze? This article "Marko Kolanovic Expects A Massive Short Squeeze Into Year End" makes all sense, specially with many stocks trading below fundamental and at extreme oversold conditions. The lack of volume and players in the coming days with January effect ahead, will force a lot of short positions to be closed, all factors combined and the rally could be massive.

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With last week’s dip Tesla, Inc. (NASDAQ:TSLA) filled the gap from October, while the stock clings to uptrend support and holds up just above the prior breakout spot at $900. As long as it holds this key psychological area as support, I would feel comfortable to start a short-term long position. MACD is also displaying a positive divergence indicating trend reversal. Might bounce next week.

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Wish (NASDAQ:WISH) seems to be forming a bottom and it will be complete once stock closes above $3.32 on daily charts targeting the 4 areas next.

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Acasti Pharma Inc (NASDAQ:ACST) has been struggling, as have most small bio caps stocks lately, but there are some signs of reversal in this downward path. What needs to be watched from here out is whether it is still being accumulated. The bounce off the recent sell-off lows could potentially be the start of an even higher move. The stock looks right on the brink of a breakout. It closed at $1.14 and I think any breakout would bring $1.65 and better into focus.

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Mink Therapeutics Inc (NASDAQ:INKT) I think this recent IPO play has found support around the $3.7-$4.5 range and looks poised to post a bounce from here. I could see a 30-50% possible bounce up to $6.40 - $8 a share if it can get break resistance at $4.60. Keep in mind, the IPO was at 12 in October and hit 22 in November. I think current prices are going to look awfully cheap down the road. Plus, it's also a COVID Name. On Nov 12th, the company announced 77% Survival Rate in Intubated Patients with COVID-19 Respiratory Failure Treated with AgenT-797. Definitely one to watch for a big bounce.

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Arcadia Biosciences Inc (NASDAQ:RKDA) is in accumulation mode trading significantly under cash level with the prospects of a breakout that could come at any time. The 1/1.05 range has proved to be the support and we need a break of 1.10 to send the bulls charging. Big Bounce coming.

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Spruce Biosciences Inc (NASDAQ:SPRB) This small bio cap had a very productive day on Friday as we saw gains of over 100% and based on the technical daily chart I believe it has more room to run. The stock finds an immediate resistance at 5.80 and support at 4.25 followed by 3.89 (EMA50). This stock is an example for my other fav small bio caps CMMB CNTX TNXP INKT It's just a matter of time.

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CPNG had a strong day as the stock closed up $2.18 or 8% on solid volume. Friday’s high of $29.26 is now resistance for the continuation move. Technical indicators are looking bullish.

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Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) This penny stock deserves your attention going forward. The stock is forming an inverted head and shoulders pattern. If the stock can break Friday’s high of 44c, we should see a strong follow through move. TNXP will move very quickly, so keep a very close eye on the stock.

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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