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Twelve Stocks on my watchlist for the 4th week of the year

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GameStop (NYSE:GME) is on the watch list because I still enjoy watching it trade. As you know, I took a short position last week and increased on Friday because there are no fundamentals to support such a rally, and I’m almost sure that will end badly for a lot of newbie traders that are not aware of how the stock market works in euphoric times. Investors who buy on hype can be left holding the bag. GME remains a highly liquid, volatile stock that can be utilized to make quick profits. There is nothing wrong playing this stock, as there will be a firm bunch of believers buying into this hype, but be sure not to be holding this when the music stops, and the chart seems to be saying that the music is about to STOP. If you’re new to trading, avoid this battle between giants where only you will lose, they know very well when to exit, you not. I’m currently losing on my short-trade, but this article is just to help you, because in the past I was also a victim of these schemes. The stock is very overpriced for the results it delivers. Please consider this a friendly message. Never believe the hype. Enjoy it, But never believe it. Just trade it and you’ll do just fine. From a technical standpoint, the stock is very overbought and overhyped. The stock will fall sooner than later. The RSI history speaks louder. Notice that everytime the RSI hits near 90 it drops. I would like to end this article saying that i know how to manage a losing trade, but most of you do not. Don’t be greedy / play smart. Good luck all.
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BlackBerry (NYSE:BB) continues to perform incredibly well despite some market undercertainity. I’m still holding my long-term investment in the company. Discipline, knowledge and focus never hurt anyone. Looking for a possible run to $20…..When you see volume creeping in and a slow steady price rise the alarms should start to sound.
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Socket Mobile, Inc. (NASDAQ:SCKT) is quietly heading higher. We all know what can happen with this stock when it gets some momentum behind it. The stock broke the downtrend line from the October peak of $4.50, which sets the stage for additional gains. I do think $3.75 is a possibility short term. Add it to your watch list.
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AMC Entertainment Holdings Inc (NYSE:AMC) is a stock to add to your watch list. With over 268 million shares trading hands on Friday, the stock is sure to get some attention going forward. The last time AMC ran it hit $5 a share. History does tend to repeat itself. Long setup on watch.
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Novavax, Inc. (NASDAQ:NVAX) closed the Friday session strong right near the high of the day. I think this stock could see $150 next week. Last night after the market’s close, the company announced that it has finalized an agreement with the Government of Canada to supply up to 76M doses of NVX-CoV2373, the company’s recombinant protein-based COVID-19 vaccine. Canada has committed to purchase 52M doses of the vaccine with the option for up to an additional 24M doses. NVX-CoV2373 is currently in Phase 3 clinical development for the prevention of COVID-19. The company expects to supply NVX-CoV2373 to Canada beginning as early as the second quarter of 2021, following authorization by Canada’s regulatory agency.  Looking at the daily technical daily chart the near-term outlook is positive. Momentum indicators are starting to point up, which is a sign of growing strength in the stock and MACD is also giving a positive indication. NVAX will move quickly, so keep it on your screen on Monday.
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Greenpro Capital Corp (NASDAQ:GRNQ) had a promising day trying to regain some traction yesterday. I think this Bitcoin play could be setting itself up for another nice run short-term. Closed up 6.22% on solid volume in what may be the start of an explosive reversal. Could pop over 2.12 , definitely on watch next week.
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Sundial Growers Inc (NASDAQ:SNDL) looks to have bottomed and could post another strong move higher. I’d add this one to your watchlist again and keep a close eye on the volume. Increased buying pressure should push this stock up in a big way. My price target stays at $1
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Cardiff Oncology Inc (NASDAQ:CRDF) Possible double bottom pattern. I think this stock has found support around the $10.3-$11 range and looks poised to post a bounce from here. I could see a 20-30% possible bounce up to $16 a share if it can close abv $12.50
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Color Star Technology Co Ltd (NASDAQ:CSCW) closed back above its 200-day exponential moving average on Friday. This stock is under some impressive accumulation as of late. I think a burst to $1.02 is in the cards short term. A longer term buying scenario could see this stock trading at $1.43 or better.
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Kodak (NYSE:KODK) appears ready to embark on another trip over $10 a share. This time should be different and I would expect the stock to hold its gains.
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We’re keeping the momentum going. Congrats to those that took full advantage of my pick yesterday, Molecular Data Inc (NASDAQ:MKD). The stock closed up 72% on monstrous 134M shares traded. Watch the break of $1.69 next week for continuation to $1.95
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Enveric Biosciences Inc (NASDAQ:ENVB) this $3.94 stock is also looking to make a move higher off its recent bottom. This was a stock that was trading at over $15 a share a few days ago. A reasonable bounce target is $6

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


Source: http://ac-investor.blogspot.com/2021/01/twelve-stocks-on-my-watchlist-for-4th.html



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