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Thursday, July 28, 2016 

Stocks to Watch for July 29, 2016

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Very bullish action on Adverum Biotechnologies Inc (NASDAQ:ADVM) today. The stock made a very significant move on high volume, which could be signs of a bottom here. First resistance is seen at today's high of $3.78 and then at 4. On the technical side, MACD and ADX all point to upward trend while RSI is also rising. At today’s price of 3.62, Adverum Biotechnologies has a market cap of $153 million, less than the $247 million the company had in cash at the end of March. Based on fundamentals, the stock has a lot of upside potential, so watch it closely on Friday.

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Pandora Media Inc (NYSE:P) is showing signs of a potential upside recovery. The MACD has stabilized and is about to cross over its signal line. A crossover would be nice and bullish. The bulls remain in control as long as it continues consolidating its recent move. We still need to see a break and close above 13.52 to confirm a continuation to the upside with a next target in the 15 area. Only a break back below the 200-EMA would invalidate this bullish outlook.

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Micron Technology, Inc. (NASDAQ:MU) pulling back to support level. I think we might bounce here.

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GoPro Inc (NASDAQ:GPRO) Strong move today on heavy volume. Traders should watch for a potential breakout over 13.40 The MACD is positive and above its rising signal line. A breakout above this key resistance could take the stock much higher as the daily technical chart shows little resistance.

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Alimera Sciences Inc (NASDAQ:ALIM) Nice move today on heavy volume. Traders should watch for a potential breakout over 2.17

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Shares of Mattersight Corp (NASDAQ:MATR) have room for a significant uptick beyond these levels. Volume starts to pick up again. A move above $4.09 could trigger a sharp move higher. Long set-up on watch.

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Jazz Pharmaceuticals plc - Ordinary Shares (NASDAQ:JAZZ) hit my scanner today with some impressive volume and closed up 7.69%. I expect some follow through on Friday.

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Evoke Pharma Inc (NASDAQ:EVOK) is building a nice optimistic formation above the 50-day EMA on hourly. A break above today's high of $3.28 will confirm the bullish trend and the following uptrend will take price up to $3.60 zone. Technical indicators are looking bullish, but correcting overboughtconditions (Hourly).

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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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