I would like to start by saying that next Thursday 22th of July, I will take one week off to recharge my batteries for the busy months ahead. I'm heading to Algarve, south of Portugal. Good luck to all of you.
( click to enlarge )Shares of Kadmon Holdings Inc (NASDAQ:KDMN) soared 20.56% or 75 cents to $4.28 per share on heavy volume after the company has announced that FDA has approved REZUROCK™ (belumosudil) 200 mg once daily (QD) for the treatment of adult and pediatric patients 12 years and older with chronic graft-versus-host disease (cGVHD) after failure of at least two prior lines of systemic therapy. With a surprise FDA approval Friday afternoon, Kadmon Holdings is on its way to becoming a commercial drugmaker. With the surge yesterday %K line is again on top over %D line showing the stock is back to new rally. Plus, the price is also back above the 200 day exponential moving average. The technical chart shows the buyers are back and a possible test of February highs around $5.73 is very likely. The 7 analysts offering 12-month price forecasts for KDMN have a median target of 10.00, with a high estimate of 20.00 and a low estimate of 8.00. The median estimate represents a +134.19% increase from the last price of 4.28. The company will host a conference call on Monday, July 19, 2021 at 8:00 a.m. ET to discuss the FDA approval of REZUROCK. I think the stock has room to go higher due to its high short interest. Watch the stock closely on Monday.
( click to enlarge )Clover Health Investments Corp (NASDAQ:CLOV) has been forming a large falling wedge pattern on the 4H chart that could lead to an explosive bullish movement if a breakout happens.This is a reversal pattern that forms in a downtrend. It implies that buyers are ready to take control of price amid a weakening bearish environment. A break above the upper trend line will be characterized by increased trading volume, bolstering the stock higher. Technical chart above shows a bullish sign with %K line on top of %D line and MACD is beginning to move up, which often leads to short covering. The stock looks like it wants to run.
( click to enlarge )Pop Culture Group Co Ltd (NASDAQ:CPOP) The stock remains incredibly oversold. Obviously, the selling could resume and the stock could fall to fresh lows. That is the risk, but the potential reward is the stock rallies hard and hits $20 a share or +100% from current levels. Buying stocks at all-time lows in extreme oversold conditions, especially ones like these that have not experienced much of a bounce recently, is a great way to find profitable trades. I'm wondering about the broker that constantly dumps a ton of shares at 17.45 on a daily basis, something that the SEC should analyze in order to understand what the hell is going on. It's not a normal situation especially in extended hours.
( click to enlarge )Moderna Inc (NASDAQ:MRNA) Broke out to new highs last week. The stock is very overbought so pullbacks are buyable. Looks good for higher prices.
( click to enlarge )Orphazyme (NASDAQ:ORPH) performed well yesterday, closing up 5.2% on no news. Technical indicators are showing signs of turning around, which suggest a near-term bottom, including large positive divergences on MACD, Stochastics & RSI in daily. If the potential buy signal confirms itself, I will be looking for a move to the resistance area at 8.42 - 9 at the very least.
( click to enlarge )Virgin Galactic (NYSE:SPCE) has pulled back all the way to its 200-day exponential moving average which is a key technical support level. Might bounce next week.
( click to enlarge )Another potential bounce play on Monday is Nvidia (NASDAQ:NVDA)
( click to enlarge )Oxbridge Re Holdings Ltd (NASDAQ:OXBR) Biotech name that looks poised to bounce from recent bottom. RSI and Sto are starting to turn up from oversold levels. I think short term the stock will break back over $3.8
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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
