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Saturday, May 16, 2020 

These are some setups for upcoming week

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The strong move in  Sorrento Therapeutics Inc (NASDAQ:SRNE) shares was something that I tweeted Friday in pre-market as a potential big percentage mover. If you were following my twitter account you would have gotten the tweet when the stock was trading around 3.90. If you jumped in and booked your profits, congratulations. I sold all my old position, however it seems that we could see more gains going forward. Looking at the 5m chart the stock formed a trading range in the 6.5 to 7.5 region. A break up will bring the price to repeat the test of 9. Break down, will allow the bears to go to 5.74-5.33

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Forward Pharma (NASDAQ:FWP) This 6.29 stock was trading over 12.7 a share less than 3 weeks ago. That being said, and technically speaking, the odds suggest a bounce is in the cards next week. In addition, the stock has reached a major support level, where it bottomed out several times before. From a technical standpoint, the stock price is showing signs of a bounce and next level of resistance according to this 30m chart is at 6.40. The final hour bounce off the lows on Friday was a bullish signal and gave the bulls an indication that this bounce may be the start of something much bigger to come. You need to watch this stock closely on Monday because it could break resistance and rise to 7.2 range. 

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Rallied hard Friday on heavy volume breaking several key resistances areas. If it clears back over 1.52 next week, may have some good upside. I tweeted the potential brekout on shares of  Ibio Inc (NYSEAMERICAN:IBIO). Congrats to those who paid attention. Short-term technical indicators are strong.

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Francesca's Holdings Corp (NASDAQ:FRAN) is a stock I think deserves some watching over the coming sessions for a potential short-term reversal. Watching for $2.70 breakout. All key momentum indicators are in favor of an upward price movement. FRAN will move quickly, so keep it on your screen next week.

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Therapix Biosciences Ltd (NASDAQ:TRPX) There is a lot of volatility but the daily chart shows accumulation. Who is buying? Morgan Stanley reported a 5.1% passive investment last month. As i said several times, this stock should be trading abv 50c imho new CEO, different ideas, Nasdaq extension, offering closed. The company is on the turn-around and I expect the price to lead the charge. Im long.

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I have already outlined the many reasons why I like  SG Blocks Inc (NASDAQ:SGBX) on Twitter. At 2.4 this stock, in my view, offers a tremendous opportunity to profit in the short-term. Yesterday, company tweeted that Osang Healthcare Co, the first South Korean testkit maker to receive authorization from the U.S. FDA, is ready to ship kits that can test 100 million people in the U.S. for Covid19 and SG Blocks is honored to be a distributor. Plus, in after-hours the company announced the closing of the issuance of an additional 900,000 shares of common stock pursuant to the exercise in full of the underwriters' over-allotment option in connection with its public offering that closed on May 11, 2020, which is a clear sign of investor interest. From a technical standpoint, MACD is starting to curl up, the grey histogram bars are starting to turn back to zero, showing that the recent downtrend is changing in the opposite direction. That trend change for SGBX is just getting under way. Yesterday, I increased my long position.

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PayPal (NASDAQ:PYPL) A bullish consolidation on the 4h chart, potentially offering a breakout opportunity.

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NovaBay Pharmaceuticals, Inc. (NYSEAMERICAN:NBY) I think I've been doing remarkably well spotting these small bottom charts lately. Is this the bottom? Thats always the risk, it could fall further, but from a technical perspective we could see here possible double bottom formation on hourly chart. In addition, MACD is also curling up and RSI is turning up below 50. Im still long.

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Novavax, Inc. (NASDAQ:NVAX) looks to be forming another bullish consolidation before more possible upside. The stock needs to digest the recent gains and work out the overbought condition with a correction or consolidation. Breakout watch over 46 SL 36

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Amyris Biotechnologies (NASDAQ:AMRS) successfully back-tested the recent breakout zone and bounced nicely. The stock has a bullish setup in play and as long as price holds $2.98 there is no reason not to be bullish here. Long setup. 

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Vermillion, Inc. (NASDAQ:VRML) broke out of an important consolidation area with heavy volume and will likely have the attention of the swing traders in the next sessions. Buyable on any pullback to pivot.

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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