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Saturday, May 01, 2021 

Potential Trade Setups for the first Week of May


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Vaxart (NASDAQ:VXRT) has made an awesome move recently with volume backed confirmation before the event at the World Vaccine Congress Washington 2021 that will be held virtually from May 4-6, 2021. The technical daily chart above shows the stock is in a bull market rally as MACD is on top of signal line and %K line is on top of %D line. In addition, the medium term trend is also bullish as the stock is above 50-day and 200-day moving averages with both moving averages going up. At this point, there could be some profit taking to reset the overbought conditions and provide some room to develop a new trend up, as VXRT seems to rise too quickly in a short time.

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Alset Ehome International Inc (NASDAQ:AEI) In the daily chart above the stock is starting to show some strength with high volume upsides. With no resistance between $11 and $14, a break above the $10.90 level can see the stock trade in the $13.50 area pretty soon. To be honest, I believe the stock still has more room for appreciation. The stock’s range is getting smaller on decreasing volume. With an upward RSI trend and an improving MACD, I have a feeling that it will break higher shortly.

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I'm keeping Coinbase (NASDAQ:COIN) on the list. After struggling the last few days to get back above $300, the stock showed relative strength yesterday in a RED market. This stock not only had momentum, it also had some volume. A break above 306.7 next week, will take the stock back to the major resistance area at $327.47. I'm still long.

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ShiftPixy Inc (NASDAQ:PIXY) Ready for more action? Last week’s performance of PIXY was marked by an explosion in volume and price action on Thursday. Towards the end of the week things went a little south but nothing alarming enough for me to worry about after taking a new long position around 3.20. I'm here to trade, not to make investments. From a technical standpoint, the stock reacted very well to the support zone, previous resistance, closing back above the $3 level on volume. Another bullish signal is coming from the MACD which crossed up above the signal line and this may spur further buy signals in the short-term. Watch the break of 3.35 next week, for a potential run to $4 I’ll continue to monitor the play for further potential upswings.

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The stock held up well in a weak market environment on Friday. Cyclacel Pharmaceuticals Inc (NASDAQ: CYCC) broke resistance, but it was during the first 15 minutes of the day, which is not a good time to trade. The stock ended the day at the previous day's closing price of 7.11, and registered an intraday range of 6.97 and 7.75. A close abv 7.60 is important to continue the rebound toward 8.95. Oppenheimer analyst Kevin DeGeeter initiated coverage of Cyclacel Pharmaceuticals yesterday with an Outperform rating and 17 price target. I took a big position on this name and I will not be satisfied if I don't double my money. This is for patient traders. If you're not patient, go to the casino.

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Chemomab Therapeutics Ltd (NASDAQ:CMMB) This is a stock that I like a lot for another big rally. In the last couple of times it went under $30, the stock had a big spike right after. Dont worry with the SEC Form S-3 filed on Friday, for me means news ahead, before the raise ;) read the market behind the appearances and understand the hidden signals coming from this news that give us golden clues. Experient traders know exactly how this works. For some reason, the stock recovered in after-hours following the S-3 announcement ;)

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Naked Brand Group Ltd (NASDAQ:NAKD) has an increasingly bullish bias on the daily time frame, with the stock now trading above the 70c resistance level. Plus, the emergence of a potential inverted head and shoulders pattern with a neckline around 78c frame offers a strong indication that the stock can still trade much higher over the short-term. Note: It is a penny stock so trade with caution.

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AMC Entertainment Holdings Inc (NYSE:AMC) The stock declined to a support zone and upside volume is starting to pick up again. Might bounce here. Watch immediate resistance at $10.22

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TherapeuticsMD Inc (NASDAQ:TXMD) finally broke out of its downtrend line yesterday on decent volume. If this chart does what is supposed to do, it will be going higher in the days to come. Technically, the stock is in a short-term Bull Market with share price above 9 and 13 daily exp moving averages. Let's see if next week the stock will confirm the breakout. Let's keep an eye on her as I think momentum will pick up.

The 3 essential financial tools that I use everyday:

Benzinga Pro: It is a streaming platform that contains all the information you need to invest smarter today. Sign-Up For Benzinga Pro HERE

TradeXchange: TradeXchange is another online financial media outlet that delivers real-time news headlines that usually hits the wire fast enough to be an actionable trade idea. Click HERE

TradeIdeas: It is a scanning tool that all traders should use. Click HERE

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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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