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Friday, July 03, 2015 

Stocks to keep an eye on July 06, 2015

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Enzon Pharmaceuticals Inc (NASDAQ:ENZN) Definitely on watch next week. After the market close on Thursday the company declared a special cash dividend of $0.50 per share of the Company’s common stock, payable on August 12, 2015 to stockholders of record as of July 21, 2015. The SEC filing concerning this special dividend can be found here (FORM 8-K). This special dividend represents a generous dividend yield of 41.32%, as of the last trading price of $1.21. I went long in the after-hours trading. You know, I like special dividends better than regular dividends. This company has been the target of shareholder activists and the largest holding is Icahn Enterprises with 5,904,863 shares or 13.36% stake. Watch the stock closely on Monday.

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Kite Pharma Inc (NASDAQ:KITE) on my swing long list. The stock finally closed the week above the downtrend line that had been in place since January. Good upside volume on the daily chart. Breakout above 66.50 is expected to trigger fresh uptrend and immediate resistance at 77.

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Fitbit Inc (NYSE:FIT) After surpassing the key resistance level of $40 on Wednesday, the rally of FIT breached its previous all-time high of 40.54. The rally is expected to continue in the coming weeks, however, at this point, and based on the hourly chart it could be setting up for a pullback. The earlier resistance of 40.54 will now provide strong support to FIT stock.

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ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) continued its sideways movement this week and tested the bottom of 11.10 levels again. Now, on the downside 11 is immediate support zone for next week. The daily technical indicators are displaying negative divergence, indicating that the medium-term trend is under threat. The current uptrend will continue until the stock is trading above trend reversal level of 10.74.

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Twitter Inc (NYSE:TWTR) looks to be setting up for an upside move, as the price has held up well the past few sessions.I remain short-term bullish but I hesitate to suggest new positions with the market looking vulnerable. At this point, and given the current stock levels, it is important for it to break 36.42 level soon. The trend is expected to be up till trend reversal level of 35 is intact on closing basis. Plus, the stock closed the week above its 9 & 13 exp moving averages, giving it even a more bullish set up.

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eBay Inc (NASDAQ:EBAY) Rally continued for 3rd consecutive session. The stock is showing signs of an upcoming breakout as price action and volume are making some bull signals. Waiting for a break above the 62.39 for a long position. Short-term price target after the break is 63.30.

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Vringo, Inc.(NASDAQ:VRNG) The price action in the last hour of trading on Thursday was very strange but Bullish accompanied with unusual volume, so it will be interesting to watch the stock on Monday. This may indicate a potential shift in the trader sentiment from negative to positive.

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.

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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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