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Saturday, May 28, 2022 

8 Technical Setups to keep an Eye On


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On Friday, the stock Blackberry (NYSE:BB) broke above its neckline of the inverted Head and Shoulders pattern, as well as its 50-day exp moving average (EMA). This should open the door to a run back towards prior highs near $8, while the measured move of the pattern would suggest $7.63. The 6.20 price level now represents near-term support.

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When ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI decides to take a 12% stake in a small/medium bio company people listen. If investors continue to buy and hold shares of RNLX knowing that the low 22.48 million outstanding share count provides them a better stake than their more portly brethren, the amount of  Renalytix PLC shares in circulation will quickly disappear. Shares have traded below $4 for the very last time in my opinion. Daily chart also suggests a bullish outlook on a medium-term basis. I do think it is only a matter of time before this $4.2 stock heads to $5.85-$7 and beyond. Those who read the 13G form on Friday will be rewarded with some serious gains as this news gets digested with a surge in RNLX shares. This is a stock to add to your watchlist, if you haven't already done so. It should be interesting to watch going forward.

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Imperial Petroleum Inc (NASDAQ:IMPP) shares skyrocket amid rising in Oil prices. This is a serious gap fill candidate on Tuesday.

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RiceBran Technologies (NASDAQ:RIBT) had a shakeout this week as the fake news surrounding the RS caused a spike in volatility. However, the structure of the stock didn’t change. In fact, stock prices might be bottoming out as a golden cross is starting to form. During such volatile moves, the best thing to do is to zoom out and check the stock on the higher timeframes, as those often give you an indication of the critical levels to watch. These critical levels to watch are still found between 50c and 54c. As long as that region sustains support, upward continuation is likely. On the upside, RIBT has to break through 78c, as that is the current resistance. I'm still long.

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Arcadia Biosciences Inc (NASDAQ:RKDA) broke out of a Flag consolidation on daily charts, suggesting resumption of the uptrend.

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Cyngn Inc (NASDAQ:CYN) The stock has lost nearly 70% of its value since the beginning of the month of May, closing on Friday near the major support zone. I expect a strong bounce back soon especially after Qualcoom Friday's news.

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Billionaire Israel Englander increased its stake on Assembly Biosciences Inc (NASDAQ:ASMB) by 300%, picking up more than 1M shares in Q1. The accumulation continues with this stock. We've seen how quickly the stock can head higher with buying and with interest still strong in this issue, I suspect another rally is in the cards. Keep this stock on your radar.

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Nine Energy Service Inc (NYSE:NINE) stock is on the cusp of a major breakout. 15% of the float is sold short, a big short squeeze on the break of 3.45. On high for next week.

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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