As we approach a new week here, people interested in the financial markets need to remember the markets are closed 2/19/18 honoring presidents day. With this being said, we have taken a look at some stocks/charts we will be watching beginning the week of 2/20/18.
$GEN - Target level @ $1.54 in our opinion. Last week the stock rallied out various news being exposed to the market. With the acceleration last week, we think there can be more upward momentum if 1.54 levels are broken. When looking @ a 2 year chart, there seems to be very solid resistance around 1.54. IF the stock can break it, we think there is a pretty big gap to fill on upside. RSI and MACD are heated, so there could be a potential sell off. IF 1.19 levels are rejected, we could see the stock leveling off and cooling down.
$NVAX - Target level @ $2.52 in our opinion. Last week we saw NVAX create yearly highs resulting from strong momentum. Going into this week, we could see NVAX creating newer highs in our opinion. With the way RSI and MACD are forming on the chart, we could very well see a break through 2.52 levels and gapping up even higher. On the flip side, we see support at 2.20ish. IF NVAX sells off and rejects 2.20 levels, we could see the stock cooling down this week.
$DNR - Target level @ $2.35 in our opinion. DNR has been showing some solid upward momentum the last few trading sessions. With the stock closing +5.12% on Friday we will begin watching it this week for a 2.35 potential break. IF the stock can surpass these levels, we think it could be eyeing the 2.60 levels on the upside. On the downside, IF DNR rejects 2.19 support, we could see the momentum shifting down this week.
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