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Saturday, February 13, 2016 

Stock chart setups for the week ahead

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Shares of Groupon Inc (NASDAQ:GRPN) soared 29% or 65 cents to 2.89 per share after reported fiscal 4Q15 results that shattered analyst forecasts, along with a favorable full year 2016 guidance. Friday's close was notable as the stock broke the downtrend line that has been in place since the early November. Plus, it also closed above the recent highs of 2.87. From the daily technical chart the long term trend is still weak as the stock is still below 200-day exponential moving average with the moving average keeps falling. However, it may be in a rally for the short-term as %K line has crossed on top over %D line, while the daily MACD indicator is on top over the signal line showing strength for the short-term. If momentum continues as I expect next week, the stock could break the psychological level of $3 and move higher. Note: According to a regulatory filing on Friday, Alibaba Group Holding Ltd. is now the 3rd largest Groupon shareholder with 33 million shares.

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Twitter Inc (NYSE:TWTR) is catching the attention of market players again after the earnings report. The stock had a strong session yesterday taking out the 9-day EMA on expanding volume and it seems to have broken a small falling wedge pattern. With the RSI rising off an oversold position and with MACD crossing over the signal line, the stock looks prime for a continuation of Friday's rally. An initial resistance can be found at 16.71. (20EMA).

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Celldex Therapeutics, Inc. (NASDAQ:CLDX) was on my bottom scan at $6.50 and hit a high of $7.33 Friday. A good example of why bottom plays can be very lucrative if you buy in at the right time. The short-term technical structure suggests continued bullish momentum. My initial target is under $7.80 and a stop-loss should be considered at $6.96.

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NantKwest, Inc. (NK) As can be seen the houly chart has been forming a bottom pattern with some smart money involvement over the past couple of days (Positive MACD divergence + OBV). Honestly and based on the hourly chart above I think NK will have a relief rally from current levels after a dramatic fall. As you can see it has held its current range, meaning we could be seeing at least a temporary bottom. This is a low volume stock so the price is likely to go up pretty fast. The stock surged in the final hour of trading on high volume, which could be another bullish factor for the week ahead.

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Rambus Inc. (NASDAQ:RMBS) As long as the stock holds above the $11.53 support level on a close basis, the intermediate-term picture should remain positive. Looking at the technical daily chart above, although the moving average still shows weakness as 50-day EMA is below 200-day EMA, positive momentum seems to be back as the stock is back above its major short-term EMAs. My bias remains neutral to bullish over the short to intermediate term.

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BlackBerry Ltd (NASDAQ:BBRY) Later in the afternoon of Friday, the company announced that signed two patent licensing agreements with Canon and IGT, which seems to be very good news. From a technical standpoint, the price is testing its support and is forming a potential double bottom reversal pattern, confirmed by the positive MACD divergence. It failed to make a lower low. On the upside, the immediate resistance is at 6.82 (declining 9EMA), followed by 7.14.

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VirnetX Holding Corporation (NYSEMKT:VHC) rose 3.52%to $7.05 on Friday, closing at its session highs after spiking in the last hour. VHC is starting to gain interest again and could see a rapid ascent as the accumulation chart shows a trend reversal to the upside. Momentum indicators remain in overbought territory but are not yet giving any selling signals. Only a break above the 7.60 resistance area could take the price higher and negate the short-term bearish view. I will watch the stock closely on Tuesday.

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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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