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Saturday, September 24, 2016 

My Watchlist for the week of September 26th

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Apple Inc. (NASDAQ:AAPL) has been consolidating its big run from 102.53 to 116.18 earlier this month in a bull-flag formation. This is a bullish trend continuation chart pattern, indicating the continuation of an existing bullish trend after a small pause. The 110 area seems to be a strong support, so as long as AAPL stays above that point there could be more upside ahead. If it does rally, I would look for it to at least rise back up to Nov 2015 highs around the $121 level. On the flipside, if it falls below the 110 level, then there could be some trouble for investors as the stock may then come down to $105 in short-term. But for now, technically the bullish case is intact.

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Chiasma Inc (NASDAQ:CHMA) broke out of its significant intermediate-term resistance and surged considerably higher amidst impressive buying pressure on Friday. I'm going to keep an eye on it and see how it reacts next week. The outlook is now positive and a move to 3.7-3.90 appears likely. Stop-loss 2.5. Friday’s high of $2.98 is resistance for the next upside move. If the stock can break through this level, we should see a strong move. CHMA can be a good trading stock, so keep it on your radar for the next few days. On the technical side, indicators are sending bullish signals. The MACD is above the signal line and the RSI & Slow stochastic are bothrising above their 50% levels. Plus, the ADX is turning up form oversold lows. Moreover, the company has a strong cash position, nearly $4.50 per share or $115.6 million (as of June 30, 2016). Watch for a break of 2.98 to continue the uptrend.

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IntelliPharmaCeutics Intl Inc (NASDAQ:IPCI) finally broke out of a consolidation pattern last week accompanied by strong volume amid rumors of a potential takeover bid. Thursday’s high was $2.34, which is resistance for the follow through move next week. If the stock does break resistance, expect to see another strong upside move. The trend is bullish as the stock is now on top of its major EMAs. So, keep an eye on her.

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The potential rally in Tokai Pharmaceuticals Inc (NASDAQ:TKAI) shares was something that I tweeted several times in the past sessions. If you were following my twitter account you would have gotten the tweets when the stock was trading around the 1.30/35 cents. It ended Friday at $1.68 gaining more than 34% in the past week on massive volume. If you jumped in and booked your profits, congratulations. As i said on twitter, I still holding my shares because i do think it could reach the $2 price level or more in the coming sessions. The volume speaks for itself. Last week all dips were bought aggressively.

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FORM Holdings Corp. (NASDAQ:FH) shorts are about to get squeezed here. Looking at the daily technical chart, this stock seems to be forming a large ascending triangle with resistance at 2.80. I suggest keeping an eye on this pattern formation, the breakout should happen relatively soon and the target price is 4.40. If momentum continues as I expect next week, I believe there are lot of profits left on the table for traders to capitalize on.

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WidePoint Corporation (NYSEMKT:WYY) made a strong upside reversal on Friday in the last hour of trading. We should be able to see some decent upside movement for the bulls here. A positive MACD cross has occurred and RSI is moving up strongly. Expect an initial run up to 59c with a break higher moving to the 65c zone. It has a good base at 38c which can be used as a stop loss for long position.

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Twitter Inc (NYSE:TWTR) shorts were squeezed Friday as the stock gained over 21% on Buyout Rumors. The price finally broke and closed above the 21 price level. Let's see what Monday brings. From a technical standpoint, pullbacks to 21 are buyable.

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Novavax, Inc. (NASDAQ:NVAX) has bounced over 100% from its recent lows. More importantly the bounce has been supported by the insider activity. Watch for a break of 2.41 to continue the short-term uptrend. Use tight stops here.

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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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