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Saturday, February 06, 2016 

Potential Trade Setups for the week ahead

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GoPro's share price rose almost 6.5% in after-hours trading on Friday following the announcement of a patent licensing agreement with Microsoft. From a technical standpoint, the daily indicators are giving positive signals, with RSI looking poised to move North and the MACD showing a fresh upward crossover. If you are bullish, better wait for a long green candle to close above the declining 9-day EMA. As the current set-up is unconvincing, I prefer to wait on the sidelines until it decisively breaks above the $11 level before re-initiating directional views.

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Intrexon Corp (NYSE:XON) The price broke last week the downtrend line that it established since August 2015. The stock is showing increasing strength on the MACD, RSI and CMF. Plus, Friday's close was slightly above the 200-day exponential moving average, but we need another green candle on Monday to confirm. The short interest in this stock is around 34%. I remain bullish on XON, as technical signals favour further upside. Just make sure you set your stop losses properly when trading this one. My Stop loss was adjusted to just below the 100-day EMA.

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Keep a close eye on Cerus Corporation (NASDAQ:CERS) next week. The stock looks right on theverge of a breakout. I think in the short term it could see $6 but let's see a test and close above of $5.57 first. The MACD and RSI are also indicating increasing upward. Watch the stock closely here for a break through the 50EMA as a clue that the stock wants to go higher. I'm bullish on CERS as technical signals are starting to turn positive. According to an article on investipedia (February 04, 2016) Cerus Corp. May Have Treatment For Zika Virus.

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Rambus Inc. (NASDAQ:RMBS) has been trading sideways within a range (11.73 to 12.50) for the past two weeks. The stock needs a close above 12.50 to break out of this range to the upside. Daily technical indicators are bullish but showing some signs of weakness (not very clear yet). The MACD is above its signal line but moving sideways in positive territory. The RSI is also moving sideways above its 50 level, but sliding down. Although it closed below the 200-EMA all major short-term EMAs are rising and the stock is trading above them. The medium-term up cycle is still intact despite the pullback on Friday.

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Micron Technology, Inc. (NASDAQ:MU) Building a base/bottoming the past 3 weeks. Breaking above 11.57 we could see higher prices. The MACD and RSI are also indicating increasing upward. On watch.

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VirnetX Holding Corporation (NYSEMKT:VHC) The stock is starting to stabilize after pullback. I initiated a long position at $6.78 on Friday afternoon with a stop loss at $6.48. I still don't know if the pullback is over but the 30m chart shows signs of stabilization. The price faces tough resistance in the 7.5/7.7 region. If it manages to break through that area, we might see a sustained momentum on the upside.

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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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