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Sunday, October 04, 2015 

Some potential bullish setups for next week

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Bitauto Hldg Ltd (NYSE:BITA) finally broke above its 50-day exponential moving average on a closing basis last week for the first time since June, which indicates a shift in the trend on the charts. Go long on the break of Friday’s candle high at 33.14 or wait for a retracement back towards the 31.5 level. RSI and MACD shows strong bullish signal.

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Vipshop Holdings Ltd (NYSE:VIPS) Watch for a possible resistance breakout. The upside momentum could push the stock to 21.5/23 if it breaks and close above the downtrend line. Major momentum indicators are gaining strength, this suggests further upside momentum.

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AK Steel Holding Corporation (NYSE:AKS) finally closed back above the 2.38/2.4 resistance area Friday on decent volume. If momentum continues as I expect next week, I believe we could see a nice rally to 2.89 or 3, the next short-term resistance.

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Jumei International Holding Ltd (NYSE:JMEI) is setting up for a potential breakout above 10.46. This range needs to be broken to signal the next major directional move. Most oscillators momentum indicators are showing strength.

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BlackBerry Ltd (NASDAQ:BBRY) stock formed a bullish candle on Friday which could help lead to further gains in coming sessions. It could be setting up for a new V-bounce as seen in the chart above. Momentum indicators are showing positive signals. Recent high volume accompanied by a positive crossover of Stochastic on the daily charts suggest fresh buying interest in the stock.

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Micron Technology, Inc. (NASDAQ:MU) is a buy based on Friday's bullish move. The stock broke the 20-day EMA and also the resistance of the descending channel. First possible target price for this stock is at $16.92 (50EMA) and have to see from there. Looking at the technical indicators, we have the RSI above the 50% level and the MACD also triggered a new bullish signal. The 200-day EMA is now located at 22.79, which leaves a lot on the table in terms of upside potential. Long setup.

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Chesapeake Energy Corporation (NYSE:CHK) A possible bullish Inverted Head and shoulder's pattern? Although it is not complete at the moment, I think that the stock is currently building the right shoulder of this pattern. If my interpretation of the chart is correct, the neckline is situated at $8.80.

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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.

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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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