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Sunday, May 30, 2021 

Stocks to watch on the first week of June

 Dearest readers,

The past week was a crazy week. On Tuesday I was surprised by the suspension of my Twitter account due to an error from my side. I accidentally reported my own account when I was trying to report another imposter. Unfortunately I continue to be a victim of these scam artists, who continue to create fake twitter accounts pretending to be me in order to scam my twitter followers. I will NEVER ask you for money or send private messages. Unfortunately i cant control this situation. Special thanks to Twitter support for the immediate resolution and all of you for the motivation and messages of support.

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This was a stock I alerted to my Twitter and Stocktwits followers at 14 just a few days ago. Last week the stock hit a high of $36.72 before pulling back to 26. There's a high risk we could see more profit-taking ahead. On the chart above, I'm looking at two potential zones of support for trend-followers to watch in the stock. The bull trend will likely not resume unless price can hold these support zones. The stock is still in a ST uptrend and pullbacks are part of the process.

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OLB Group Inc (NASDAQ:OLB) has seen its volume and interest increasing the last few days. The stock is lining up for another serious bull run and it has the potential to become one of the most explosive breakout play opportunities for next week due to its low float. On Friday it had a great move on the upside and closed abv the EMA100 and 200 for the first time in weeks. With continued buying pressure I am looking for this stock to hit and pass its $6 price level very soon. The MACD and ADX are on 'BUY' triggers.

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Evofem Biosciences Inc (NASDAQ:EVFM) was on my list a few days ago, and has been slowly trying to make a move up. Volume starts to pick up again. This penny stock could make a huge move to the upside. Keep it on your watch list. A break of 87c with force might give the stock room to +$1.2

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Highcape Capital Acquisition Corp (NASDAQ:CAPA) Daily chart is showing signs of a possible turn around. In terms of technical indicators, the daily RSI is starting to rise in the oversold zone while the MACD is rising above its signal line. The trend is expected to begin the upwards movements. Nearest resistance for the stock is at $10.85. If this level is crossed and the stock price is able to sustain above this level, then it might go to $13

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AMBEV (NYSE:ABEV) broke out to new highs Friday and traded nearly 2x normal daily volume. The stock has the potential to make a big run next week. Buyable on any pullback to pivot.

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Second Sight Medical Products Inc (NASDAQ:EYES) was another winner for my twitter followers on Friday (alerted at 5.44) Should breakout hard to upside when it crosses over $6.24 EMA50

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Applied DNA Sciences Inc (NASDAQ:APDN) is one for the bottom pickers. The stock appears to be poised for a nice bounce off this bottom. In my view, the stock has formed a bottom in the short-term and I expect a move past 6.50 to take the stock towards the target of 8 with a stop-loss at 4.95. The stock seems to be undervalued at current levels IMO

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Sundial Growers Inc (NASDAQ:SNDL) needs to take out $1.04 The break of the key resistance line with heavy volume should be the next buy point. Daily technical indicators are looking bullish. The MACD is rising above its signal line and the RSI has moved above its 60% level. Plus,  the volume is trending upward over the past couple days. If 1.04 gets breached, SNDL can rise to 1.50

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T2 Biosystems Inc (NASDAQ:TTOO) displayed relative strength on Friday closing above its 50-day exponential moving average for the first time since March. If the stock price remains above this level, investors will assess this development as a sign of strength. From the technical analysis perspective, the short-term outlook for the stock is relatively bullish. RSI, MACD and ADX charts are flashing bullish signals. Immediate short-term resistance for the stock is at 1.53

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Urban One Inc Class D (NASDAQ:UONEK) is getting ready to come out of a large consolidation pattern. A close above $5 gets the party started.

TRADE IDEAS PLATFORM: I encourage everyone to take advantage of this opportunity to trade like a Pro. The Memorial Holiday Weekend sale started Friday and runs through June 1st. Click HERE and use the CODE: MEMORIAL25 for 25% off the first month or year of any subscription or upgrade. The code expires midnight June 1st.

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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