Trade Ideas for Tomorrow: ACAD, CTIC, CYTK, NFLX

The daily Netflix, Inc. (NASDAQ:NFLX) chart shows a bearish MACD crossover that is increasingly evident in the last trading sessions. I also note that a possible double top pattern is developing on the daily chart. The near-term trend is bearish and the stock faces a strong resistance at 140-145. A close above this range is a pre-requisite for the reversal of the bearish trend. In addition, the short term stochastic signal is showing some bearish sign and the RSI has retraced back to the 50 level. In short-term the chart is not painting a good picture for Bulls. So do trade with care.

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Cytokinetics, Inc. (NASDAQ:CYTK) is displaying a short upside momentum and is poised to move higher from these levels. Short-term traders could go long once the share price moves above $1.59.

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ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD) shares have been consolidating over the past 3 months and patience is the key here. Volume is starting to build and it may make an attempt at breaking out. Positive MACD indicates that the stock is a buy. Any move over $1.875 will probably lead to new highs. Let’s keep an eye on it.

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Contrary to expectations, Cell Therapeutics, Inc. (NASDAQ:CTIC) shares ruled strong and also moved closer to the resistance level of $.40. Investors may remain invested with a stop-loss at $.341 (on closing basis) as the stock appears to have the potential to breakout the target zone of 40 cents. So far the technical chart is still showing buy signal with stock trading above 200 day and 50 day moving averages with MACD on top of signal line and RSI above the 50% level.

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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.
About Antonio Costa 325 Articles

Antonio Costa is a 35 year old part-time trader who trade stocks in the US market.

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