More Stock Picks From 4 January 2017: ITMSF, IPXL, NNVC, NKTR, DVAX, PACB

After being roused from sleep by barfing cats and coughing kids, I entertained myself back to sleep by looking at more charts. Here are the ones that caught my eye:

ITMSF (Intermap Technologies Corp)

ITMSF is a riskier play than I normally look at, because the stock doesn’t have much of a chart history and, because of it’s extremely low price, it could potentially have liquidity issues. However, if you’re looking for a high-risk/high-reward play, this could be up your ally. As you can see from the monthly chart, price has dumped down to not too far off the historic low, suggesting a lot of potential upside, while the daily chart…

…shows a very nice rebound that started on the 4th. So, if you wanted to take a crack at this one, I’d use a small position size, both to mitigate risk and to prevent yourself from being locked into the stock if it’s not liquid enough when you want to sell.

IPXL (Impax Laboratories, Inc.)

On the monthly chart, IPXL has landed on a significant support/resistance zone. This does not, of course, mean that it can’t go lower – it could also continue nosediving to the bottom of the long-term channel (about $4.00), but this is a perfect accumulation point to start building a position. On the daily chart…

…IPXL has made what looks like a nice bottoming consolidation and is now moving up. Keep in mind the possibility of gap fills to $16.55 and $30.44.

NNVC (Nanoviricides, Inc.)

NNVC is another stock that’s repeatedly taken a beating and has recovered, and has now put in a double bottom on the daily on the critical $1.00 support zone…

…as you can see in the chart below:

NKTR (Nektar Therapeutics

NKTR has been banging around in a sort of rising channel for a while, making big swings between highs and lows, which is what I like in a stock: lots of volatility. The Stochastic RSI is just turning up from the oversold zone on the monthly…

…and on the daily price is making what looks like a bullish move from the support zone at $12.00.

DVAX (Dynavax Technologies Corp)

DVAX has taken a huge beating, but looks to be making a turnaround. This isn’t my favorite chart on the monthly, as it hasn’t settled at a good support zone, but taking a look at the daily chart…

…we see that it’s made what looks like a double bottom and a bullish move from the $3.85 zone and the possibility of a big gap fill to $11.20.

PACB (Pacific Biosciences of California, Inc.)

On the weekly chart, PACB looks like it’s making a reversal from the lower trend line of a wide channel…

…and the daily chart is looking quite bullish, with a potential gap fill to $6.75.

Good luck, and good trading!

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