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Saturday, June 11, 2016 

Stocks to watch in the coming week - I will be in vacations for 3 weeks

Dearest Readers,

First, I would like to thank you for your cooperation and support during these last few months of the year, with a high increase of followers on the blog/Stocktwits and a great increase in the number of followers on twitter that has almost reached 17000 followers. Then, announce that in the next 3 weeks I will be on vacation and will not be back to update the blog until 04th of July. But before I leave you, I added few charts with potential ideas for next week. Good luck to all of you.

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United States Steel Corporation (NYSE:X) shares may be in a small consolidation phase following a nice trend. Daily technical indicators are bullish. The MACD is rising above its signal line and entered positive territory, while the RSI remains above its 50% level. Plus, all major EMAs are moving up with the stock above them. The stock is likely to make another attempt to cross the resistance zone between 17.92 and 18 in the coming sessions, so stay tuned. It needs to close above this level to indicate a continuation of the rally. Stop 15.79

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Relypsa Inc (NASDAQ:RLYP) The stock has held up better than its peers recently, and despite the selloff on Friday, the price has failed to break below the key 18 support level and its 20EMA, closing the day with a Bullish candle and near the highs of the session. The technical chart looks decent here, with a small descending channel that could resolve to upside. For now, this looks likely to return to the 21 region to continue the recent range. The top management has been very bullish about the company. The director Schuetz Thomas J. and CFO has purchased 37,000 shares this year. I'm Bullish on stock.

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Wynn Resorts, Limited (NASDAQ:WYNN) With the price clearly consolidating at current levels, we could see a short-term bounce here, but even if that scenario happens, I would need to see a move back above 102 to continue the uptrend. Near-term support is at 96.67 and resistance at 103.36

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McEwen Mining Inc (NYSE:MUX) had a very good bullish rally last week accompanied with large volume. The stock is now near the red line as RSI approaches the 70 level. It may still move up some cents but I expect a correction any time as I have observed that a lot of indicators have already reached overbought levels. While we may see a slight pull-back very soon this stock is on fire and any pullback should be used as a buying opportunity.

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Consolidated Edison, Inc. (NYSE:ED) is breaking out. The stock broke through the highs set in March and should continue to move. All daily technical indicators are supporting the bulls. EMAs are moving up. RSI is moving up and above its 50% level. In addition, MACD also in buy mode. This technical chart is clearly telling us that the place to be in ED is on the long side, however you should be prepared for the possibility of a pullback to test the breakout line. Watch the stock closely next week.

Just a quick and last note: Many of my friends and followers have been using Stockal app this spring and have been giving great feedback. Thanks very much guys! Good that you find it useful. Do keep your feedback coming. Those who haven't used it yet - download now! Stockal helps you discover "moving" stocks all the time. Not after their prices have already moved, but before or during. It also puts news feed, analyst reports, social media feed and company predictions together for you to consume all in one place. So you don't have to sign-up for newsletters or figure out who to follow on social media or subscribe to analyst reports. On top of that, Stockal gives you very useful signals for every stock out there - like what the aggregated opinion of Wall St analysts, sentiment movement, revenue prediction and social media pulse. These leading indicators point to the direction in which a stock could move. Get the iPhone app and Android app on their website at Stockal dot com. By the way, the apps are totally FREE for you.

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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