( click to enlarge )Rexahn Pharmaceuticals, Inc. (NYSEAMERICAN:RNN) failed to close over the 200-day exponential moving average on Friday, now located at $2.42. A close over this level would be very bullish. I will watch the stock next week for a continuation move. Resistance for this move is $2.7, which reflects Friday’s high of the day. If RNN does break resistance, I expect to see the stock move very quickly. Long setup on watch.
( click to enlarge )Extremely bullish moves on the stock have been taking place over the last weeks. Arrowhead Pharmaceuticals Inc (NASDAQ:ARWR) hit a new high on Friday of $6.4, which is now resistance for Monday’s continuation move. If the stock can break through resistance, we should see another strong upside move. ARWR will move very quickly, so watch the stock closely next week.
( click to enlarge )Sunshine Heart Inc (NASDAQ:CHFS) displayed some impressive relative strength with a 8% gain on volume. The area comprehended between 4.4 and 4.86 represents a heavy resistance that has been attacked several times now over the past sessions by bulls. The power of Friday's move suggests an upward breakout that could impulse the stock towards the $5 area. I still like the stock.
( click to enlarge )Pfizer Inc. (NYSE:PFE) has been in sideways trading range for the past month. The stock looks to have built a base and wants to make an upside move. If PFE can break through $35.37, we should see strong volume drive the stock higher. You need to watch this big cap closely because it could break resistance.
( click to enlarge )Novavax, Inc. (NASDAQ:NVAX) has a very interesting technical daily chart as the stock looks to be ready to test/break the recent highs. All indicators are still in Bullishs areas. Keep an eye for a possible breakout over $2.14
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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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