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Sunday, April 17, 2016 

Charts for the coming week

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Potential breakout play next week !! Esperion Therapeutics Inc (NASDAQ:ESPR) had a big surge in volume and price in late March and the beginning of April. The stock has consolidated over the last couple of sessions in a bullish flag formation on low volume and appears ready for another breakout. The projection is a move toward the 22-24 range. The price/volume action is showing accumulation: up days on strong volume and profit taking on very light volume. Plus, the recent insider buying of 5000 shares is also another positive indication that insiders are now bullish about the company. Generally when they buy shares, it is a sign that positive things are coming. The short interest is more than 30 percent of the company's float, which any breakout could be a violent move to the upside. As I mentioned on twitter i bought shares on Friday and will add more shares on a move above $19.

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ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) has been forming a cup and handle since March and is flirting with key resistance level just over the $7.75 mark. If that break occurs, the stock price should be ripe for a long trade. All technicals are bullish and the short-term outlook continues to look bullish.

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Rambus Inc. (NASDAQ:RMBS) building a flag chart pattern, looking for a move through 14. At this stage, it is definitely a wait and see, if the resistance will be easily taken out by the bulls. Fresh exposures may be considered on a move past $14, with a stop-loss at $13.30

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Micron Technology, Inc. (NASDAQ:MU) is showing signs of a potential reversal trend. If the stock price can close above the declining 50-day EMA next week, there should be some nice momentum in the stock.

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Oclaro, Inc. (NASDAQ:OCLR) strong bullish bar on Friday with a close near the highs of the day. Expecting continuation toward 5.50

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Shares of Golden Star Resources Ltd. (NYSEMKT:GSS) are very bullish with a lot of hot technical  indicators showing up. The slope of the upward move is very steep accompanied by heavy volume. However, as clearly seen on daily technical chart above, the stock needs to take a breather. It cannot sustain a very steep slope forever and looking at the Relative Strength Index (RSI), it has reached the overbought territory in a very sharp upmove. It seems that the breather will happen anytime soon. Watch the stock closely next week and use your stops.

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Celator Pharmaceuticals Inc (NASDAQ:CPXX) remains one of the hottest stocks on the market. The stock broke out to all-time highs during Friday's session on decent volume. At this stage, it is too extended for additional positions, and still in overbought territory. I really like the chart but at this level I would wait for a pull back before putting any cash to work. Keep the stock on your radar.

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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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