Ampio Pharmaceuticals Inc (NYSE: AMPE)

Technical Outlook: AMPE’s prices are recovering from lower levels and broke a downward sloping trendline resistance level of USD 1.46 on the upside on Aug 05, 2021, indicating an upward direction for the stock. The trend line breakout is supported by a sharp increase in the volumes, thereby higher market participation further supporting an upside movement.

On a daily chart, the momentum indicator RSI (14-period) is trading at ~50.86 levels and formed a positive divergence with the prices action, indicates an upward momentum for the stock prices. Prices are trading above the trend-following indicator 21-period SMA; however, trading below the 50-period SMA, acts as an important resistance level for the stock. Now an immediate resistance level for AMPE is at USD 1.89 and prices may test the level in the short term. On the lower side, USD 1.20 acting as an immediate support level.

As per the above-mentioned price action and technical indicators analysis, we can conclude that Ampio Pharmaceuticals Inc is looking technically well-placed on the chart, and we have a ‘Speculative Buy’ rating on the stock. The summary of our recommendation is as follow:

Beam Global (NASDAQ: BEEM)

Technical Outlook: BEEM’s prices are consolidating around an upward sloping trend line support level, indicating the possibility of an upside direction hereon.

On a daily chart, the momentum indicator RSI (14-period) is trading at ~44.73 levels with a positive bias. However, prices are trading below the trend-following indicators 21-period SMA and 50-period SMA, acts as resistance levels for the stock. Now an immediate resistance level for BEEM is at USD 35.08 and prices may test the level in the short term. On the lower side, USD 24.30 acting as an immediate support level.

As per the above-mentioned price action and technical indicators analysis, we can conclude that Beam Global is looking technically well-placed on the chart, and we have a ‘Speculative Buy’ rating on the stock. The summary of our recommendation is as follow:

Array Technologies Inc (NASADQ: ARRY) 

Technical Outlook: ARRY’s prices have been under pressure from the high of USD 17.32 and made a low of USD 12.72 on 27 July 2021. On the daily chart, stock prices are trading in a horizontal channel pattern and sustaining above the lower band of the pattern.

The momentum indicator RSI (14-period) is trading at ~42.12 level and recovering from the lower level. Prices also formed a positive divergence with the RSI, further supporting a positive direction. However, prices are trading below the trend-following indicators 21-period SMA and 50-period SMA. Now an immediate resistance level for ARRY is at USD 17.48 and prices may test the level in the short term. On the lower side, USD 12.60 acting as an immediate support level.

 As per the above-mentioned price action and technical indicators analysis, we can conclude that Array Technologies, Inc is looking technically well-placed on the chart, and we have a ‘Speculative Buy’ rating on the stock. The summary of our recommendation is as follow:

Biomerica Inc (NASDAQ: BMRA) 

Technical Outlook: BMRA stock price has been moving up gradually in the last few days. The prices are sustaining above the horizontal trendline and continuously taking support of the same. 

On a daily chart, the leading indicator RSI (14-period) is trading in positive territory at ~56.40 levels. Prices recently moved above the trend-following indicators 21-period SMA and 50-period SMA, further indicating an upward movement for the stock. Now the next major resistance level for BMRA is at USD 4.80 and prices may test the level in the short term. On the lower side, USD 3.45 acting as an immediate support level.

As per the above-mentioned price action and technical indicators analysis, we can conclude that Biomerica, Inc. is looking technically well-placed on the chart, and we have a ‘Speculative Buy’ rating on the stock. The summary of our recommendation is as follow: