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Wednesday, August 17, 2016 

My Watchlist for Thursday, August 18

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Valeant Pharmaceuticals Intl Inc (NYSE:VRX) gained 12.78% to $30 after analysts at Morgan Stanley upgraded their rating to overweight and raised its price target to $42 per share from $33. The stock cleared key resistance level, signify a breakout and bullish reversal that support further follow-through and an initial test of the declining 100-day exponential moving average around the $34 levels. Keep on watch list.

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Onconova Therapeutics Inc (NASDAQ:ONTX) has the perfect set up to make a nice run here. The break out point would be at 3.92. Trajectories of momentum indicators are turning up again and A/D chart shows serious accumulation. If it breaks above the 3.92 level, it could reach an initial target of 4.50 and then a secondary target at 4.75. Keep it on your screen on Thursday.

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SCYNEXIS Inc (NASDAQ:SCYX) traded higher on Wednesday gaining nearly 26% after Guggenheim initiated coverage on shares with a Buy rating and $15 price target. Stock finally broke out of the bottom base formation accompanied by heavy volume. Momentum indicators are flashing bullish signals, with MACD climbing and RSI rising. Look for a quick run to $3.02 then on to 3.50.

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Auris Medical Holding AG (NASDAQ:EARS) hit my scanner today with some impressive volume and closed up 39%. I expect some follow through on Thursday. The MACD has a positive crossover and the RSI remains in buy mode.

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VirnetX Holding Corporation (NYSEMKT:VHC) is displaying a screaming buy divergence on the upside. A strong short-covering rally should emerge sooner or later. Keep it on your watch list going forward.

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Aurinia Pharmaceuticals Inc (NASDAQ:AUPH) needs to take out the $2.75 resistance area in order to convince bullish buyers at these levels.

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EZCORP Inc (NASDAQ:EZPW) Resistance Breakout. Go long on the break of Wednesday’s high at 10.21

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Netflix, Inc. (NASDAQ:NFLX) Watch this trend line for a upside break at $97 for short-term direction.

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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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