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Saturday, October 26, 2019 

Stocks to Watch for October 28, 2019

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Reebonz Holding Ltd (NASDAQ:RBZ) opened strong at 1.47 and rallied to a day high of 2.40. This mini-explosion was sufficient enough to deliver net realizable intra-day gains of up to 70% and for those of you that made good on RBZ’s gain potential, congratulations. As i tweeted i entered at 1.22 in Thursday's afternoon. Friday’s performance of RBZ was marked by an explosion in volume and bullish investor ensured that no fewer than 14 million in volume. Towards the end of the session things went a little south, but nothing alarming enough for me to worry about. The moderate dip is probably just a few traders taking profits before the weekend like i did. I hope that some, if not all of you, were able to make something of RBZ’s delivery of gains in Friday’s session. The stock hit a high of $2.4, which is resistance for Monday’s move. If the stock can break through this level next week, I expect to see another strong upside move to $2.75 and better.

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Phunware Inc (NASDAQ:PHUN) is starting to heat up and I expect to see it trading above $2 or better very soon. This bottom play has started to bounce nicely off its bottom and the momentum indicators are giving a clear picture of a short-term upward bias. I would not be surprised if it hit $2.4 at some point next week. Let's keep an eye on PHUN as i think momentum will pick up thanks to RBZ momentum. I like this as a sympathy play off Friday's RBZ move.

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Valeritas Holdings Inc (NASDAQ:VLRX) Calling a bottom in this market is always extremely difficult, but in my opinion this technical daily chart is showing some positive momentum divergences. Honestly, the selling pressure seems to be losing momentum and Friday we saw unusual volume one hour before the close. If the stock can hold the support around 1.2-1.25 we may see a bounce to $2 or more very soon. The fact that the company is now trading below cash levels also provides further protection. I bought this stock on Friday. Keep in mind, low float mania is back and I am always eager to find these kind of setups (Solid bottoms with positive divergences) and act on them in these times of euphoria. Long setup on watch.

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SRAX Inc (NASDAQ:SRAX) appears to be poised for a nice bounce off this bottom. In my view, it has formed a bottom in short-term and I expect a move past 2.07 to take the stock towards the target of 2.68 with stop-loss at 1.80 The stock seems to be undervalued at current levels.

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Vipshop Holdings Ltd (NYSE:VIPS) stock continues to act strong setting new highs. Daily technical indicators are looking quite overbought but can stay there for long periods of time. Might pause but looking to add on any dip.

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Overstock (NASDAQ:OSTK) finished the day up 5.51% on solid volume of over 2.8 million of shares exchanging hands on the day. The momentum in the short-term remains bullish, with MACD trending upwards above its signal line. Go long on the break of Friday’s high at 11.47 with a SL at 10.5

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Chimerix Inc (NASDAQ:CMRX) has managed to regain its footing in recent trading with a Doji candlestick on daily, which could mean bears power is slowing down. This may signal a reversal. Bounce time.

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.

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Hi Antonio, A couple of weeks ago you bought 100K shares of $TTNP. Are you still holding?

No. As i tweeted last week, I was stopped out.

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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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