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Saturday, December 12, 2020 

Some names on my watchlist for the coming week


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Peck Company Holdings Inc (NASDAQ:PECK) I think now is the time to be getting into this stock ahead of any new positive developments. With such a low float, it could get explosive down the road. From a technical standpoint, notice how nicely the stock has been holding the rising 100-day exp moving average over the last five sessions, coinciding with the $6 support level. Plus, the volume has been declining in recent weeks while MACD is displaying a positive divergence. If the stock can push above the 6.38 area, a new run to $8.4 could be in the cards. I took a long position last week.

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Staffing 360 Solutions Inc (NASDAQ:STAF) is starting to make a move of its recent lows supported by the rising EMA-50. It bears watching going forward as this stock has posted some impressive moves in the past. I think the stock has found a bottom here and could post a nice rally from current levels. STAF will move quickly, so keep it on your screen next week.

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I feel Phio Pharmaceuticals Corp (NASDAQ:PHIO) will be a stock to watch as well as other speculative cancer stocks in the small bio cap market. A steep decline yesterday to the pivot zone means this stock is on bounce watch next week. When a stock rises on heavy volume, and falls on light volume, doesn't mean the sky is falling. Therefore, the stock should resume the upside momentum during the week ahead.

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MongoDB (NASDAQ:MDB) has extended the upside movement and is now standing above the broken $290 resistance area. The stock remains very bullish in the short-term, indicating it is yet to attain full bullish mode, while short-term pull-back is likely in near term with moderate reliability due to its overbought posture as revealed by the daily RSI. Nevertheless, it appears positioned to sustain its uptrend, considering its gain pattern. On watch.

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India Globalization Capital, Inc. (NYSEAMERICAN:IGC) has been holding the support base at around $1.68 zones from the last 2 trading sessions after the fall witnessed from 2.66 to 1.7 levels in the start of the December month. Might bounce next week. Definitely on watch.

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JinkoSolar Holding Co., Ltd (NYSE:JKS) broke its support of $56 levels after the consolidation of the last four trading sessions and gave the lowest close of the last nine weeks. The stock has formed a weak structure as it failed to hold the major support base and now weakness may drag it towards $45 levels. The above technical view will be invalidated, if the stock is able to regain the broken support for at least 2 consecutive days and in that scenario, 64-65 zone will come first.

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The hourly chart indicates that Obalon Therapeutics Inc (NASDAQ:OBLN) has possibly reversed its short-term trend. The price has successfully completed a possible short-term bottom pattern. The technical indicators also are displaying good signs. Buy at the break of $1.72 and target $2.02. Stop below $1.55

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Recro Pharma Inc (NASDAQ:REPH) is up smartly two straight sessions, can Monday be the charm. Long setup on watch.

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Spi Energy Co Ltd (NASDAQ:SPI) This chart looks to have reached a bottom in the $7.7 - $7.85 range. I don't want to call this stock the next big % runner, but I do think it could have a nice rally from current levels. Monday's presentation at The 13th Annual LD Micro Main Event Conference could be a good catalyst.

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Pfizer (NYSE:PFE) has formed a new trading range and base so far for the month of December. Dips around $41 continue to be bought with the negative news ignored from markets. The best case scenario for a new leg up would be a break above $42.75 where some resistance has formed. Long setup on watch.

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.

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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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