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Tuesday, November 01, 2016 

My Watchlist for Wednesday, November 02

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Westmoreland Coal Company (NASDAQ:WLB) acted like it was going to breakout, but failed to. Maybe tomorrow. Technical indicators are becoming more favorable now, with the MACD and Stochastics starting to turn up. On watch.

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ZIOPHARM Oncology Inc. (NASDAQ:ZIOP) broke and closed above the 100-day EMA for the first time since mid-April on decent volume. The stock is showing increasing strength on the MACD, Slow Stochastic and RSI. At this point, the next key technical levels that traders should be watching are the 6.15 level and the declining 200-day EMA at $6.48, which is the next significant resistance. Still on my top list.

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Las Vegas Sands Corp. (NYSE:LVS) has a good chance to continue higher and a buy could be made as it moves over $60. If this happens, the stock is a good play.

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Twilio Inc (NYSE:TWLO) is very oversold and if the stock can hold the $35 price level may be a good bounce play.

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Ocean Power Technologies Inc (NASDAQ:OPTT) may have reversed its recent downtrend, closing in the green on a surge of volume, which is generally a good sign. If the market shows a little bit of optimism the stock could bounce back up to its EMA9 around the $3 level. The MACD has stabilized and is about to cross over its signal line. A crossover would be nice and bullish.

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Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) In the past one month, the company's stock has lost more than 50% of its value on low volume. Today's high volume at bottom, means bears are running out of steam. I believe that the risk of continued downside at current levels, is a lot less than the possibility of a sharp oversold rally. DRNA is trading below cash levels, zero debt and the institutional ownership is high (76%). Keep it on your watchlist.

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Valeant Pharmaceuticals Intl Inc (NYSE:VRX) had a massive rally today on reports of a possible sale of Salix. The stock hit a high of $24.30, which is resistance for Wednesday’s move. If the stock can break through resistance, we should see another strong follow through move. MACD has turned up and RSI has plenty of room to support higher prices. Watch the stock closely tomorrow.

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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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