Market Overview

5 Low Float Stocks to Watch This Week

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NantKwest

NK

On Dec. 2, 2019, NantKwest Inc. (NASDAQ: NK) announced promising safety data from their first phase of tumor-targeted cell therapy.

The initial reaction was mixed, but since the news NK's price has grown steadily. The wide-range bar from Friday accompanied by high volume suggests that upward movement should end soon. Prices above Friday’s high at $3.10 are bullish in the short term. But looking back on the weekly-chart, the last three price spikes were subsequently followed by a sharp downside movement. Will history repeat again?

NK

Avalon Globocare

AVCO

Without any news announcements, Avalon Globocare Corp (NASDAQ: AVCO) began establishing upward momentum on Dec. 10, 2019. On Friday, Dec. 13, 2019,  we saw the first red day with a close below the opening price. During the day, prices found support at the 50% Fibonacci retracement and bounced back to $2.26. Prices above Friday’s high $2.33 are bullish. The next stronger resistance level is at $2.63.

Calyxt

CLXT

The shares of Calyxt, Inc. (NASDAQ: CLXT) surged on Dec. 3, 2019 by 28.77% with 2.8M shares traded. This was caused by an announcement that Vince Restucci has joined the team as Vice President of Agronomy Services. The resistance around $5.20 - $5.30 held the prices back. Last week the resistance level broke and on Friday a Doji was formed, which is a bearish sign. The old resistance now turned into support and prices may consolidate back to the $5.30 level again. The next resistance is at $7.95.

SecureWorks

SCWX

The global cybersecurity company SecureWorks Corp. (NASDAQ: SCWX) presented their third quarter fiscal results on Dec. 5, 2019. Their revenue increased by 6.2% up to $141.3 million. On Dec. 6, 2019, shares went through September's resistance at $15.11. The volume did not support the attempt to break the resistance sustainably and closed at the resistance. A consolidation was likely from this level. Last week prices consolidated with low volume. On Friday, prices broke the previous day high at $13.05. I’s important to keep the high momentum by breaking Friday’s high at $14.07 and staying above this level.

Synthorx

THOR

On Dec. 9, 2019, Sanofi SA (NASDAQ: SNY) announced they will acquire Synthorx, Inc. (NASDAQ: THOR) for $2.5 Billion. The week before the announcement, the stock grew from $18 to $25 within three days. Sanofi will acquire the outstanding shares of Synthorx for $68/share. Since the news is out now, the prices should move in a tight pricing channel. There is no momentum to be expected.

Alexander Voigt is the Founder and CEO of daytradingz.com. He does not hold any positions in the mentioned stocks.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Technicals Trading Ideas

 

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