My watch list this week is just two stocks: $ROVI and $PACB both have formed bull flag patterns that have been very resilient to the market choppiness. Both look good for continuations on their upwards momentum this coming week. I am in $ROVI with a small position with my original buy at $17 per share. I think this can go over $20 per share with time (earnings in February). My price target given the high tight bull flag is $24 per share medium term.
PACB looks like a nice bullish chart but I would prefer to get a buy in around the 50 ma to maximize risk reward and ideally I would like to see the RSI start to strengthen and rise towards and above 70. Both of these stocks have lovely charts thats have stayed strong even in the bear market and should with patience be nice winners. However, like with any pennystocks its worth keeping a tight stop loss (I use the 4 day ema) to ensure small losses do not devastate my account (I have been down that route before and it is a tunnel with no cheese!).
Good luck this week!
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