Chronicle Journal: Finance

Trade Setups Ideas for the coming week


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Finally seeing the first signs of potential bottom in Clover Health Investments Corp (CLOV). The has fallen hard over the past several weeks and looks ready for a rebound. CLOV's stock reacted very well again  in the 10.5 price level support. Another bullish signal is coming from the MACD which is poised to cross above the signal line and this may spur further buy signals. Investors should consider getting long here. As I tweeted, I took a big position on Friday. Short sellers don't scare me.
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What a rally for Viveve Medical Inc (VIVE) late in the day. I have to believe that this rally will resume in earnest tomorrow. Last week it had a minor pullback to test the support zone (previous resistance) and then closed Friday with a strong move higher in the last hour. Thus, any breakout at Friday's highest high shall attract the buyers to go long on the stock. The price may find its next immediate resistance at the level of 4.40 then 4.83
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Obalon Therapeutics Inc (OBLN) looks to have built a base and wants to make another strong upside move. If the stock can break through $4.50, we should see strong volume drive the stock higher. You need to watch this closely because it could break resistance next week. Key momentum indicators are turning up again.
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New Providence Acquisition Corp Class A (NPA) ended Friday's session at 19.35, gaining more than 2% with +1M shares changing hands. The stock price looks to be on a reversal of its short-term trend supported by a positive MACD cross and directional indicators. On the upside, the next resistance lies at 20.24 I have been buying dips for the last 2 weeks.
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Kaixin Auto Holdings  (KXIN) continues to demonstrate a bullish outlook with its strong structure on charts. The daily chart shows that the price has been on deep consolidation. The level of 3.75 has been working as the level of support. The nearest resistance on the daily chart offers enough space for the buyers, which may help the stock have another possible bullish week. Major intraday charts such as the H4 and the H1 are bullish biased. It needs a convincing breakout at $5 levels to see a continuation of the trend. This could be the next China stock to move higher. Definitely on watch.
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GameStop (GME) Shorts be aware, it is getting ready to come out of a nice basing pattern. Trajectories of some key indicators suggest high probability for an immediate sharp up move for the stock. Any close above $43.48 declining EMA20 gets the party started. I took a long position on Friday.
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AMC Entertainment Holdings Inc (AMC) is still holding up well here and the stock has a chance to move higher. I will be watching the stock next week for a continuation move through Friday’s highs of $5.77. A retest of 6.50 seems very likely in the coming days. Looking at the technical chart the MACD has just cut above its signal line and the RSI is abv 50% level while rising. In addition, +DI is above –DI and ADX is beginning to bottom out. Keep this on your watchlist because the overall market sentiment on AMC is beginning to turn bullish again. I love the Amazon buyout rumors.
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Clovis Oncology Inc (CLVS) is looking attractive at current levels. Bottom's in IMO, expecting a spike soon. The stock looks to have hit bottom in the 6.60 levels showing huge bid support. I bought some shares last week.
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Sino-Global Shipping America, Ltd. (SINO) had a significant bullish momentum last week but the stock price is now struggling near the highs. Consistent move above $11 could be the beginning of a new leg up. Immediate support is at 9.79 followed by 9.06
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Westwater Resources Inc (WWR) Rallied hard Friday on heavy volume, breaking out of a descending channel. If it clears back over 8 may have some good upside.
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.

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AC
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