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Saturday, May 28, 2016 

Good Setups to watch for the week ahead

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Cara Therapeutics Inc (NASDAQ:CARA) could be starting another rally as there is tremendous support in the stock (short-term EMAs) and some serious buying coming in. The price has been in a bullish flag formation off its sharp rebound rally since the mid-May lows and it is now near the top of the sideways channel in the 6.42 area. A break through that top would lead to a next test of the 7.8/8 resistance zone. Among oscillators, the MACD is in buy mode and RSI is at 56 levels indicating strength in the current uptrend. If it breaks 6.42 the stock will absolutely fly into the 7's right away. Keep it on your watch list going forward. Could be a high flyer on breakout.

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Twitter Inc (NYSE:TWTR) The selloff seen earlier this month appears to be coming to an end, with the price closing above the declining 20-day EMA on Friday. As such, I would be looking for a move back to $14.68 as a good buying opportunity. The stock has a gap and the 50-day EMA resistance above. However, as long as the price holds up above $14.67 level (20EMA), we are likely to resolve this short-term range to the upside rather than the downside. The MACD and stochastic point towards a push higher. Watch the stock closely on Tuesday.

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Macy's, Inc. (NYSE:M) made a strong move to the upside and closed above the 20-day exp moving average for the first time since April accompanied with high volume. I think we will see some nice follow through on Tuesday. Daily technical indicators show RSI heading up while macd is also rising. Note, prices are also inside the daily EMAs with the 20-day EMA an immediate resistance. The next major resistance area is around the mid $34 range. Plus, M also saw unusual call activity. Keep it on watch.

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OHR Pharmaceutical Inc (NASDAQ:OHRP) Consolidating / basing under resistance the 50-day EMA. Insiders are buying a lot of shares at current levels. They must know something positive about the company. From a technical standpoint, the MACD is slowly turning up forming a buy signal. RSI is growing and also giving a buy signal. Watch for a break through the 3.24 price level to indicate that another push higher will occur. Keep it on watch.

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Office Depot Inc (NASDAQ:ODP) showing signs of bounce coming MACD cross. The stock is on the verge of breaking out and it could happen very soon. At this stage it is definitely a wait and see if the resistance will be easily taken out by the bulls. 3.56 break out watch.

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ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) showed buying strength all day on Friday. We start to see some signals of rebound as the daily technical chart shows positive momentum is back. If stock breaks 7.51 then the stock can head to 7.84 and if this level is breached then the level of 8.36 is visible. I think its worth adding to your watchlist.

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Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) jumped 13c or 8%, Friday to close at 1.75, slightly below the declining 100-day EMA. A minor resistance is expected here but if that resistance fails, the further gains towards $1.85 will be expected. Technical indicators are looking bullish. The RSI is moving up and above its 50 level. The Slow Sto continues to trade in the positive zone and the MACD is also turning up. Overall my short-term view remains neutral till a decisive break above $1.80 takes place. On watch.

On the Stockal-front, I see that a lot of my readers have downloaded the app and are using it regularly. Do tell how useful you find it and how the founders of Stockal can make it better for you. The app has seen very good traction with nearly 3,000 downloads in the last few weeks and very good traffic on their website as well. Now Stockal has launched a data-driven website too. You can find trending stocks, search for whatever stocks you are interested in and get interesting decision-support signals such as Analyst Confidence Meter, Avg Target Price, Social Media Pulse, Revenue Prediction and Stock Sentiment - all in one place. You can also read tons of reports, latest news articles and social media conversations for many-many stocks. But if you download the app, you can do all this AND you can also create watchlists, chat with your investor friends and share articles/information with them to create investing strategies. So get their iOS app or experience their website with stock insights at Stockal before downloading their iPhone or Android apps.

Have a wonderful long weekend everyone !!

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.

Thanks for visiting AC Investor Blog.


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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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