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Sunday, November 01, 2020 

Charts on my watchlist for next week


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The technical daily chart set-up for Goosehead Insurance Inc (NASDAQ:GSHD) appears to be near perfect to deliver gains next week. The stock closed up 14.5% Friday accompanied by strong volume, momentum, outperforming the entire sector and broken out to all time highs. Go long on the break of Friday‚Äôs high at 124.84

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Adamis Pharmaceuticals Corp (NASDAQ:ADMP) took a big long position on Friday. The company has an upcoming catalyst that could rally the stock in the shorter term. PDUFA date November 15 for ZIMHI (naloxone HCI Injection) Opioid overdose. At oversold conditions and with a strong accumulation on the daily chart, I decided to start buying shares on Friday for a possible big bounce from current levels. Risk/reward seems favorable. Short-term target 1-1.10

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Small cap stock traders are always on the look-out for a low float / RS stock that has fallen so far that it is well overdue for a bounce. These types of stocks almost always rebound sharply. With just 833K float, I think Globus Maritime Ltd (NASDAQ:GLBS) has found support around the $7-$7.30 range and looks poised to post a bounce from here. We could see a possible bounce up to $11.5 a share or more if it can get past the resistance at $7.80 November is a good month for shippers historically. Definitely on high alert. Im long.

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Adial Pharmaceuticals Inc (NASDAQ:ADIL) looks like it may have found a bottom already. The technical daily indicators are looking better for the stock with MACD indicator above its sell signal line, %K line on top of %D line and RSI indicator moving up from the 40 level. I like the potential of this COVID name (Rapid antibody tests). At $1.74 a share, and considering this stock was trading well over $4 in September the risk for further decline is outweighed by the potential gain an explosive bounce would provide. I'm long for next week.

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Thermogenesis Holdings Inc (NASDAQ:THMO) is trying to regain the ground that it lost last week. From a technical perspective, the stock has the opportunity to start a new rally as the %K line is back above the %D line and MACD is curling up. COVID name (2-10 minutes Antibody test). If it breaks $2.24 it will absolutely fly into the 2.8 area right away.

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Digital Ally, Inc. (NASDAQ:DGLY) had a bearish momentum on Friday but closed again above the rising 200-day EMA. There are no changes in my technical outlook. The 200 and 100-day EMAs are rising and the stock is trading above them. Until proven otherwise, my bias is to the upside. I still prefer a bullish scenario but need at least a movement above 2.69 to end the current bearish correction. Long setup on watch. 

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Peck Company Holdings Inc (NASDAQ:PECK) is on track to test and potentially overcome the $7.5 zone resistance in the days ahead. MACD has turned up and RSI has plenty of room to support higher prices. Buying momentum is still positive and strengthening.

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XpresSpa Group Inc (NASDAQ:XSPA) is a potential bottom-play candidate for next week and might bring some good scalping opportunities to the 2.20 level again. Stochastics are triggering reversal and MACD is showing signs of bottoming. On watch.

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Bio-Path Holdings Inc (NASDAQ:BPTH) lost 50% in just a few days on positive news and low volume. Another potential V-SHAPE bounce coming imho. This bio cancer stock is trading at BARGAIN prices. Take the advantage of the pullback. I have been accumulating shares. I want to double my money again here.

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Phio Pharmaceuticals Corp (NASDAQ:PHIO) On Monday, the company announced 3 Poster Presentations at the 2020 Society for Immunotherapy of Cancer (SITC) Annual Meeting and we saw last week unusual volume and price action on warrants. I believe that someone is making a bullish bet on the upcoming updates and I'm following the smart money. I took a big position and will increase on the break of 2.50

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Canaan Inc (NASDAQ:CAN) had a strong bullish momentum on Friday. The bias is now slightly bullish in the near term. If the stock can stay above the 50-day EMA, then it has potential to rebound to $2.36 resistance initially then $2.75

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Nio Inc  (NYSE:NIO) The technical chart suggests that the pullback on Friday is not a change of trend, but it is instead just a temporary retreat to workout the overbought conditions. As long as the stock stays/consolidates above $29.4 on a closing basis, the bias remains to the upside.

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 47 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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