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Saturday, August 14, 2021 

A few names on my watchlist for the coming week

Dearest readers,

Last week was a tough week for small cap lovers, with several stocks falling hard on very low volume. August is particularly a difficult month for traders, but this month has been really bad due to the lack of volume and the Russell weakness. I expect some rebound in the coming days in several small cap stocks due to its extreme oversold conditions, so be selective and play safe.

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Thursday's earnings report news has lit a fire under CASI Pharmaceuticals (NASDAQ: CASI) and I don't think it will be put out anytime soon. This looks like the start of a prolonged rally, one that could see this stock trading +400% higher than current levels according to Oppenheimer analyst Leland Gershell that yesterday raised the price target on CASI to $6.00 (from $5.00) while maintaining Outperform rating. From a technical perspective, the stock broke the long-term downtrend line yesterday with some volume if it can stay above this downtrend resistance level, next possible upside resistance may be around the 1.80 level. CASI remains, in my view, undervalued, and based upon recent actions by the company, I think the stock price should head higher. The way to make money in these markets is to find the undervalued stock before the market does. Let's keep an eye on her.

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Medavail Holdings Inc (NASDAQ:MDVL) on watch for a turnaround next week. It can be tough to pull the trigger on a stock that has fallen rapidly, but these same stocks can post big moves after they have fallen and GRNV showed this to be true yesterday. I expect that the odds are good at this point that we will see a big bounce back from an extreme oversold condition.

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Indaptus Therapeutics Inc (NASDAQ:INDP) The company's 13D filing on Friday after hours showed that Michael J. Newman had reported a stake of 25.7% in the company. The filing came out later in the session, so I think the stock should see a nice bump when it opens for trade on Monday. With such a low float and an oversold chart, this could create an explosive situation. If INDP is not on your watchlist now is the time to add it.

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Chemomab Therapeutics Ltd (NASDAQ:CMMB) was another example of some irrationality yesterday after a strong share price drop on very low volume. The company reported on Friday that it has cash and equivalents of $67 million and expects to fund current operating plan through mid 2023, so no dilution needed. This $15 stock, in my view, is one of the most undervalued small bio cap stocks out there, and I believe down the road it could be trading better than $20 a share. I really like this stock and think the $40 per share valuation will come at some point. As I said before, the way to make money in these markets is to find the undervalued stock before the market does.

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Apple (NASDAQ:AAPL) seems to be forming an ascending triangle pattern, a bullish continuation setup that typically breaks upward. Breakout watch over 149.78

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In the near term, Tesla, Inc (NASDAQ:TSLA) could remain range bound, but the further upside is expected only on a conclusive close above the $727 levels on higher volumes.

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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