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Thursday, May 30, 2019 

Stocks to keep an eye on May 30, 2019

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Beyond Meat Inc (NASDAQ: BYND) cleared resistance on heavy volume and looks ready to extend its gains.

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I have been accumulationg shares of Novus Therapeutics Inc (NASDAQ: NVUS) the company has two catalysts coming up in June. Could history repeat itself? Let's keep things simple as always. Short term momentum indicators, like MACD, RSI, Stochastics are substantially oversold and showing technical signs of a reversal. Everytime the RSI has breached the level 20, has lead to a massive rally. Plus, the upcoming catalysts could also fuel a huge short covering rally after a strong drop from April highs 4.31. Let's keep an eye on NVUS as i think momentum will pick up.

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I continue to support the idea of a significant rally on shares of Workhorse Group Inc (NASDAQ: WKHS) based on the technical chart. The stock is getting a battle with resistance at $1.80 area. The stock has been consildating for weeks now, and may be ready to clear this resistance zone. The technical daily chart shows positive sign as the stock has been above all key exponential moving averages and has formed a golden cross last week. A Golden cross is when 50-day EMA crosses on top over 200 EMA and is a very bullish buy signal. Over 1.85 next stop 2.33

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Rewalk Robotics Ltd (NASDAQ: RWLK) finally broke the upper line of the downtrend channel and started the new uptrend which should take it to $5 in the short-term. On the technical side, MACD and ADX all point to upward trend while RSI is also rising.

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Amarin Corporation plc (NASDAQ: AMRN) Closed yesterday above the downtrend line and looks like it will continue to run up. Buyable on pullbacks to pivot.

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Qutoutiao Inc (NASDAQ: QTT) looks like it is getting ready to move. It has a good support around 4.6-4.7 which can be used as a stop loss for a short-term long position. On the upper side, the move is likely to accelerate above $5.40. Long setup on watch.

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Citigroup Inc (NYSE: C) watch the break of $64 for a run to $66.09

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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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