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Saturday, November 14, 2020 

Chart setups for the coming week


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The daily chart illustrates how Allied Healthcare Products Inc (NASDAQ:AHPI) recently broke out of a large falling wedge pattern on strong price action and volume accumulation, elevating the price above the 50-day Exponential Moving Average and the 20-day EMA. Yesterday corrective pullback printed an inside bar candlestick on low volume which most often precedes another strong movement. Inside bars show a period of consolidation in a stock or index. A daily chart inside bar will look like a triangle on a 1h or 30m chart time frame. They often form following a strong move in a stock/index as it pauses to consolidate before making its next move up in this particular case. This company manufactures a variety of respiratory care devices, medical gas construction equipment, and emergency medical products for use in hospitals and home health care. Combining the recent price action with the spread of Covid again at a fast pace and the HUGE demand for medical products, this stock should resume the upside move next week for a possible run to next major resistance at $10. AHPI will move quickly, so keep it on your screen on Monday.

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Valero Energy Corporation (NYSE:VLO) has been forming a bull flag chart pattern  since the big push up it had on Monday. The break and close above gives the buyers the confirmation. The technical daily indicators are looking bullish. The MACD is above its signal line in positive territory and the daily RSI is above its 65% level. Long setup on watch.

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Ocean Power Technologies Inc (NASDAQ:OPTT) stalking. I'd like to see this close over 1.75 before getting involved.

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Nio Inc - ADR (NYSE:NIO) has been forming a possible ascending broadening wedge pattern (bearish chart pattern) on the hourly chart, a setup that indicates increasing volatility in a stock. An ascending broadening wedge doesn't mark the exhaustion of the present buying pressure, but the sellers ambition to take control of the stock. Only breaking below the lower line of the pattern would be a good confirmation for the signal. Bulls need to hold the $40 level to expect further growth and avoid another sell-off.

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Westwater Resources Inc (NASDAQ:WWR) still watching it, especially after Friday's price action and decent volume. Like it above 4.59

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Phunware Inc (NASDAQ:PHUN) Investors hate this company due to its dilution history, but what they don't see is the stock could be poised for a possible turnaround. There is Bullish divergence, because the price is falling, while MACD is making higher lows and the supply is decreasing as time goes on. I have been accumulating this stock at current levels, lets see if i'm right again. Keep in mind, trading and investing both involve seeking profit in the stock market, but they pursue that goal in different ways. Trading is the skill of taking calculated risks when the probabilities are in our favour and by looking at the chart this seems to be the case. I see the stock on verge of breaking up out of this compression. My long-term indicators have signaled buy with bullish divergences, thus we can expect a rally to test the 80c resistance level soon. Keep it simple !!

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I think Sphere 3D Corp (NASDAQ:ANY) has found support around the $1.25-$1.30 range and looks poised to post a bounce from here. I could see a 25-35% possible bounce up to $1.80 - $2 a share if it can get past the resistance at $1.40. Its 52 week high is over $5 Watch the break of the upper line (1.40) of this descending channel for a strong move to the upside. MACD is finally crossing up and RSI is also turning back up, so momentum is yet to come.

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Precipio Inc (NASDAQ:PRPO) volume has dissipated and the share price per share has stabilized while indicators are turning up. Investors are awaiting more company news to decide if this stock is worthy of more accumulation. Honestly, I think now is the time to be getting into it ahead of any new positive developments. A break of the 2.22 level would be the impetus for a more explosive move higher. On watch.

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China Recycling Energy Corporation Common Stock (NASDAQ:CREG) printed a strong reversal candle on solid volume. If the stock can break Friday's high, I think we will rally back to the $5 level.

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Fisker Inc. (NYSE:FSR) broke out of an important consolidation area with a long white candlestick on Friday. Will watch to see if it can break this horizontal resistance line. You really have to like the way this stock has been trading.

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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