Market Overview

5 High-Potential Stocks This Technician Is Watching

5 High-Potential Stocks This Technician Is Watching
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ZIOPHARM Oncology Inc. (NASDAQ: ZIOP) continued its bullish run last week. The stock broke out on Friday and made a new 52-week high of $14.40 but failed to close above this level at the close, not a good technical signal.

As long as it holds above the $13.18 support level (13EMA) the intermediate-term picture should remain positive.

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Technical daily indicators are looking a little weak. MACD is positive, but has crossed below its signal line and the RSI is showing signs of falling from its overbought zone again.

Herbalife Ltd. (NYSE: HLF) was another winner this week. The stock might face a period of sideways action around the $43 level (200EMA) while it consolidates the gains booked in the last trading sessions. Once this level is crossed with good volumes, the stock can go to $48.

Technically, daily indicators are bullish but looking overbought now. The MACD is rising above its signal line in positive territory and RSI hit the overbought zone.

Lumber Liquidators Holdings Inc (NYSE: LL): The chart shows the stock is extremely oversold at this price level. Volume picked up a bit on Friday the daily MACD is starting to curl up, suggesting that a positive crossover could be coming soon. 

King Digital Entertainment PLC (NYSE: KING) tried to break down on Friday but buyers came in to support and the price closed near highs of the session. Resistance for this move is $15.88, which was the high from last Monday.   

Oasis Petroleum Inc. (NYSE: OAS): The stock has to close above the 20-day EMA, for it to pick up momentum. Daily technical indicators are displaying positive divergences. Slow stochastic is moving up from the oversold zone, suggesting that a bounce might take place and the daily MACD is giving the same signal.

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