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Saturday, July 20, 2019 

A few chart setups for the coming days and trading rules

Dearest readers,

I would like to thank you all for your cooperation and support during these last few months of the year, with a high increase of followers on Stocktwits (76000) and a great increase in the number of followers on twitter that has almost reached 38000 followers. Then, announce that in the next 3 weeks I will be on vacation and will not be back to update the blog until 10th of August. But before I leave you, I added a few charts with potential trade ideas for the coming days and once again my trading rules for newbies. Good luck to all of you.

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Safe Bulkers, Inc. (NYSE: SB) jumped 24 cents, or 11.88%, Friday to 2.26, breaking out after consolidating for two weeks in a bullish flag formation. If the stock breaks Friday's high of the day in the 2.3 area, it could retest the November highs in the 2.6-2.7 area within the next couple of days. Momentum key indicators are in bullish mode on the daily chart.

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Blackberry (NYSE: BB) the daily chart above is showing a stock that could be making strides toward turning higher. The daily MACD is curling nicely and the current $6.85 - $7 area looks like a some solid support/interest. We could see a quick pop from these levels.

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Tonix Pharmaceuticals Holding Corp (NASDAQ: TNXP) is getting ready to come out of this base pattern. A close above 60c gets the party started. I would like to point out that while the stock is consolidating the accumulation line still rising, which means, someone is buying this dip.

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Bio-Path Holdings Inc (NASDAQ: BPTH) appears to have solid footing in the $13.25's and looks ready to test the $15's again.

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Kadmon Holdings Inc (NYSE: KDMN) has been in a strong upwards trend the past few weeks and is correcting some of the big gains while working out the overbought conditions. The 2.4 area level could provide a good entry point for short-term trades.

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AK Steel Holding (NYSE: AKS) seems to be a promising stock to follow in the coming days. The stock broke the downtrend line from the February peak of $3.29, which sets the stage for additional gains. Thing to watch out now for this stock is its resistance at 2.43 (declining EMA100), which if broken may give the possibility of it going to as high as 2.61 in short-term.

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Neptune Wellness Solutions Inc (NASDAQ: NEPT) is one of the hottest stocks in the market right now. The stock broke out to all time highs again last week and the volume was very strong, signaling that this move should hold. This is generally a hot buy from a technical perspective and the short-covering will continue to power the stock higher. The momentum clearly favors the bulls. The stock is now very overbought and it seems reasonable that it should rest. Technically a buy on any dip to the pivot zone.

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Dean Foods Co (NYSE: DF) broke the descending channel from the February highs on relative high volume and could eventually rally up to test its key resistance zone around the 1.5 area in the next sessions. In addition, MACD indicates positive momentum, while RSI is also gaining strength. Keep it on your watch list.

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Boeing (NYSE: BA) Volume is picking up but the stock needs to break this resistance zone first to me. If the stock can break out above $380 with heavy volume, I think the stock could shoot up to test $397 area. There looks to be good upside potential, so watch the stock very closely.

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Ameri Holdings Inc (NASDAQ: AMRH) is a penny stock I am watching closely. It can pop big time on any positive news. The stock is trading within an uptrend and in the short-term outlook it could rise to around 42c

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Nio Inc (NYSE: NIO) Coiling up here. A break through this 3.52 area could accelerate it higher.

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Vislink Technologies Inc (NASDAQ: VISL) was added to my watchlist as a possible bottom bounce-play for another possible swing trade. It is extremely oversold at this price level. Volume picked up a bit on Friday and the daily MACD is starting to curl up, suggesting that a positive crossover could be coming soon. Bargain hunters may want to accumulate here.

I decided to share you all followers again my basic trading rules that should be taken always in consideration for trading in order to become a successful trader in the stock market. 

1 - The trend is your friend, so never go against the trend. 
2 - Keep your losses small. Golden rule: Cut losses short. Let profits run. 
3 - Use stops. The stop loss should be placed few cents below the supports and not at the same level. 4 - Learn the basics of fundamentals, charts and technical indicators. 
5 - The good trader is one who makes consistent gains, so don’t be a greedy trader, appreciate the small and the big gains. 
6 - Do not fear the market. Be always confident in your trade decisions. 
7 - Never buy what you do not want, because you think it is cheap. 
8 - Always be conscious that the loss may arise and you should be prepared for that to happen. Open mind. 
9 - For large positions, you must to have total control of the market never losing sight 
10 - Volume is a leading indicator, so play the breakouts using the volume as support of your decision. 
11 - Chart breaks without volume could be a trap and the probabilities of succeeding are low 
12 - Do not be hasty to buy or sell a stock, every day there are new opportunities to make money. Be patient is the key of success of any trader. 
13 - Only believe fundamentals as long as the technical signals follow. 
14 - Trading very speculative stocks is a frequent mistake. 
15 - Do not trade positions too large relative to your available capital. 
16 - Do not invest all your money in one company. Your portfolio must be diversified. 
17 - The Greed to pick tops or bottoms is a usual error. Wait for the perfect and confirmed signal. 
18 - Do not make trading decisions based on a story you saw in the morning paper. The market many times has already discounted the information. 
19 - Review your missteps to improve your skills 

As i always say, with patience and discipline, you can take much more from the stock market than you ever gave. Trading stocks is not easy for beginners or professionals, it is really very hard and requires lot of attention and knowledge. If stock trading was easy, everyone would be doing it. You can be successful at the stock market, with patience, discipline and a good trade set-up. The key objective is to make money and not lose it.

During the day I tweet many times to my readers. I encourage everybody to subscribe AC Investor Blog twitter and newsletter, so you can receive my trade ideas and stock news in real time.

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.

Thanks for visiting AC Investor Blog.


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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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