( click to enlarge )Bluebird bio Inc ((NASDAQ:BLUE) showed relative strength last week and price broke through its downtrend line that it established since Dec 2015 on decent volume. MACD & ADX finally triggered the buy signal indicating that a new upward cycle has begun. The stock is now going to test the next resistance level at $47.66 which is the 100-day EMA. I'll be watching the stock on Tuesday, looking for a follow through move. It has momentum back on its side.
( click to enlarge )Relypsa Inc (NASDAQ:RLYP) is currently displaying a large symmetrical triangle pattern along with some positive divergences showing up in the Daily indicators. The RSI also continues to support the bullish case with a move higher in bullish territory. Once the stock breaks through the upper line of triangle, we should see a heavy increase in buying. Another good point of interest is the high amount of shorts in the stock. If a buyout rumor gains traction again, then we could see a short squeeze which will lead to a significant upside move. I'm long here.
( click to enlarge )MGT Capital Investments Inc. (NYSEMKT:MGT) The short-term exponential moving averages continue to support the trend of the stock as it still rises. The daily MACD lines are also trending upward. Let’s see whether the stock can gather enough momentum to break through Thursday’s high. If the Bulls are able to push through 4.59 next week, there will be a rally towards 5 area.
( click to enlarge )Dicerna Pharmaceuticals Inc (NASDAQ:DRNA) was a big winner on Friday as the stock ended up $.54 on the day. I will be watching the stock on Tuesday for a continuation move through Friday’s highs of $3.63. Although this big white candle is encouraging the near-term outlook stays cautious till the stock closes conclusively above the declining 100-day EMA (yellow line) on heavy volume.
( click to enlarge )Twitter Inc (NYSE:TWTR) By looking at this daily technical chart, is very clear that the stock wants to move higher again, however it is approaching a long term resistance level that the stock has struggled to break in the past. Price needs to take out $18 level to continue higher. Watch the stock closely next week.
( click to enlarge )Platinum Group Metals Limited (NYSEMKT:PLG) displayed some impressive relative strength on Friday with a 16.81% gain. Volume starts to pick up again. Could make a nice move to the upside. MACD lines are going up. A break of $4.04 with force might give the stock room to $4.50. On watch.
( click to enlarge )NovaGold Resources Inc.(NYSEMKT:NG) Keep an eye on this one next week, setting up to break this resistance area. MACD and ADX both signal positive strength. The stock is trading above all major EMAs, also a bullish sign.
( click to enlarge )Facebook Inc (NASDAQ:FB) On my watch list for this week. The MACD just produced a new buy signal. I would watch for a breakout over the $116 region.
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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.
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AC
