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Saturday, October 03, 2020 

Some of my favorite chart setups for next week


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Boxlight Corp (NASDAQ:BOXL) Coiling up here. Long and will add on break of the 1.85 level. Daily technical indicators are turning bullish. MACD has crossed above its signal line in the negative zone and RSI is in the neutral zone, but showing a bit of upward momentum. The Chaikin Money Flow indicator turned positive, which is a good sign. To technically confirm a bottom reversal pattern, the stock needs to cross convincingly above its intermediate top of 1.86 touched in the week ending on August 28. Keep on watch.

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Esports Entertainment Group Inc (NASDAQ:GMBL) on my swing long list. The stock showed buying strength all week. Volume is starting to pick up again and there could be a decent short covering if it clears next week the $4.50 level. Plus, the MACD is showing a positive divergence and the RSI is back above the 50 reading forcing me to think the possibility of a trend reversal. Watch the stock closely next week.

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Bigcommerce Holdings, Inc. (NASDAQ:BIGC) is forming an inverted head-and-shoulders pattern in the four-hour timeframe in a possible signal for a positive trend reversal, whose neckline is placed at 90 and an upside breakout of this neckline will take the stock to 110 in the near future. Further, the close of BIGC above the short-term EMAs is adding to this bullish scenario. Long setup on watch.

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I feel  Arca Biopharma Inc (NASDAQ:ABIO) stock is well overdue for a counter trend rally, and I think it could see $6 or better if investor interest comes back into this stock. It was trading over $8.5 a share less than three months ago. From a technical standpoint, MACD has generated a bullish alert and the RSI is in the oversold region, showing some signs of reversal. Let's see if it breaks over $4.65 in the coming sessions (Downtrend line). NOTE: Insiders have been buying lately.

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Sorrento Therapeutics Inc (NASDAQ:SRNE) is forming higher highs and higher lows creating a new ascending channel on the 1-hour chart, that is the sign of a bullish trend. As long as it holds the lower band of the ascending channel, the short-term bullish scenario is intact.

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Myovant Sciences Ltd (NYSE:MYOV) is showing signs of a short-term bottom and possible bullish reversal. Hourly RSI is improving and buy volume is increasing slowly. Watch the break of the 14.49 level next week to confirm a possible reversal trend. I took a big long position last week. I will play the bounce.

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India Globalization Capital, Inc. (NYSEAMERICAN:IGC) has corrected well recently and has been consolidating at around 1-1.15 levels for quite some time gathering potential to move up. The stock is showing signs of a bounce back to rise up further with positive bias and with the RSI and MACD Hist displaying positive divergences. A break of $1.15 with force might give room to $1.60 next week.

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Oblong Inc (NYSEAMERICAN:OBLG) momentum is coming back to this name. Daily MACD and RSI look promising. This could indicate the potential for some upside gains in the very near-term. If it breaks the 2.50 area, the stock could easily retest its 2.80 resistance area.

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What a year it has been so far. Congrats to all the twitter followers who moved on opportunities the entire year. Westwater Resources Inc (NASDAQ:WWR) was another fantastic call. I brought this stock to your attention last month in the $1.7's and closed yesterday at 4.42  after hitting a 52-week high of 5.62 during the day. Congrats to those that took full advantage of  WWR alert. As i always say, buy low, sell high. The shooting star candle on the hourly chart in the final hour could be a sign of imminent pullback. Stock has a strong support around the 3.60's.

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Shares of Precipio Inc (NASDAQ:PRPO) are starting to heat up again and are worth watching. If volume can pick up I believe this stock can break through resistance at $2.73 and re-test/break its recent highs around $3

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.

AC

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  • I'm a 46 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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