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Saturday, December 05, 2020 

Several potential setups on my watchlist for next week


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BlackBerry (NYSE:BB) should continue to build momentum next week after an impressive close on Friday. It has a lot going for it, not to mention known short positions, which could make things very interesting. These short squeezes can and do happen. I'm still a long term investor on this name, in my view, remaining undervalued. Next major resistance lies at 9.69

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Oxbridge Re Holdings Ltd (NASDAQ:OXBR) I went long yesterday. This stock briefly hit $1.98 before falling back. I have not given up hope just yet. It has the potential to break higher again, we have seen that. The first attempt was premature, the next one will be more deliberate and potentially stronger. Daily technical indicators are giving favorable signals as the stock trades above all the major EMAs and momentum indicators are also still showing upside potential for further gains. The stock hit a high of $1.98 on Friday, which is resistance for the continuation move. A break of that level would be the impetus for a more explosive move higher targeting the 3.18 area.

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Phunware Inc (NASDAQ:PHUN) Friday was an excellent trading day for this stock. The money volume indicates investors are starting to catch onto this stock. When I first alerted the stock to my twitter and stocktwits followers it was trading around 66c. Yesterday it closed above the key resistance level of 75c. If the buying continues this stock could easily see $1 or better next week. Still in play for me.

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Aikido Pharma Inc (NASDAQ:AIKI) I remain firmly behind this stock. This stock currently trades around 63c and I have little doubt it rallies to well beyond recent highs at some point. Those accumulating at these levels, honestly in my view, will be sitting on some sizable profits down the road. Daily technical indicators are back in bullish zones. The bulls are gaining control after a sharp correction in August. A continuation of the rally is likely.

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TD Holdings Inc (NASDAQ:GLG) MACD, RSI and Slow stochastic are inside their respective extreme oversold zones, though all three have formed rounding bottom patterns on the hourly charts that may lead to an upward bounce in the stock price. Plus, major support has held for 2 days now, any weakness likely to be bought hard. I'm expecting a big bounce next week. China stocks have been very strong recently. They will find this one.

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Allied Healthcare Products Inc (NASDAQ:AHPI) has formed an inside bar after the strong bullish candlestick pattern formed on Thursday. An inside bar after a breakout can be treated as a breakout pullback and can be entered with a trend. I could see this stock testing $5.9 again next week if traders continue to pile in. The accumulation line on the chart tells the story much better than I can.

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Volume has dissipated and the price per share has stabilized. I think now is the time to be getting into Urban One Inc Class A (NASDAQ:UONE) ahead of any new positive developments. With such a low float, this stock could get explosive down the road. The positive divergence on the CMF indicator is telling us something, it is begging for another explosive move higher. Could history repeat itself? As I always say, history tends to repeat itself. A repeat of history would be $10+ a share.

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XpresSpa Group Inc (NASDAQ:XSPA) bounced nicely on Friday after a Doji candle and showed signs of life. This stock is very possibly turning the corner for a move higher of up to 15-20% in the coming days. This stock is a buy as long as it does not take out the 1.34 level on a daily closing basis.

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Applied DNA Sciences Inc (NASDAQ:APDN) The accumulation continues. We've all seen how high a stock can go when the entire float is accounted for. Daily technical indicators are back in neutral zones. A continuation of the rally is likely. I think the breakout is still in its very early stages and it will surprise many in the coming days.

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TOP Ships (NASDAQ:TOPS) jumped up by 38% and closed at $1.65 with higher volume. Technically, the stock has a strong resistance zone just above the 1.70 area which it is approaching. If the stock crosses this key resistance level, it has potential to fill the gap. Worth watching next week for a breakout.

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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