$SPOT Spotify Possible Weekly Bull Flag Long-legged doji reversal candle last week. This week currently green. Will be monitoring for a weekly close above ~$262 area for confirmation of bull flag breakout. Medium term target: $340-$360 range possible by late Oct Note: Not investment advice.
$BOIL Nat Gas - Possible Bullish Cup & Handle $53-$56 range possible near term Monitor for a close above $43.60 area
$HD Home Depot - Over Extended Heading Into Earnings Earnings this week before the open on Tuesday. Stock looks to be running out of gas after essentially doubling off the March lows. This has the potential for a "sell the news" post-earnings sell off. P/E ratio currently sitting at around 28x - its highest level ever. The only other time it was ever over 25x...
$AAP Advance Auto breaking out of a long term downtrend Friday on strong volume. Earnings coming up this week - before the open Tuesday 8/18. $ORLY O'Reilly Auto Parts crushed earnings a couple weeks ago...many are expecting solid numbers from $AAP. Looking at options, open interest Put/Call ratio stands at 0.50 currently. Or in other works, for every put held...
$MSFT Ascending Triangle - Possible TikTok Deal Microsft holding support today at a buy point. See chart for possible path to $230 near term. Watch for a break above the $216.50-$217.00 area. Possibility of a deal for TikTok within the next month a nice catalyst with a defined deadline in mid-Sept. Near term target - $225-$230 range by early Sept
$K Kellogg with a nice top & bottom line earnings beat recently, followed by a sell-off likely related to guidance. With that said, it's held above the 20d ema line and had a nice bounce off support around $68.70 on Friday to form what could be a bullish hammer and start of a near term uptrend. Also of note, Ex Dividend date of 8/31 - could see additional...
$SHOP Shopify - Buy the Dip Down almost 4% today on a low volume Friday. Perfect opportunity to buy the dip. The e-com trend isn't going anywhere. Target: $1,300 by early Sept
$LULU Rising Wedge - Short Up almost 4% today on average volume and no real news. Shorting this move for a retrace back into the $320-$325 range at least.
$PLUG Plug Power - Downtrend Breakout on 2x Avg Volume A pull-back and retest of the downtrend line as support is possible later this week. A successful retest would be the ideal entry point. Target: $13.00 possible by Sept *Assumes a positive ER coming later this week. Note: Not investment advice.
$PTON Record close today after rebound from July pull-back to 50d line. Expecting a follow through move later this week into next week. Target: $80-$84 range possible by mid-August
$TTD The Trade Desk - Bull Flag Breakout Into ER $520-$540 range possible near term with an earnings beat. This stock has a solid history of surpassing earnings estimates. Note: Not investment advice.
$JMIA Overbought - Short term retrace Short term bearish - this will need a healthy retrace before heading higher most likely. I'm long term bullish based on the fundamentals. With the volume seen today, this would be a risky short. I would set a stop just above $16. Near term target: $12-$13 range Note: This is not investment advice.
$ROKU Bullish Pennant - Near Term Breakout Possible Earnings for the Apr-Jun (lockdown impacted) quarter are coming next week. Price target: $170-$175 range near term Could see fresh all-time high with a strong ER.
$STZ Constellation Brands (Corona/Modelo/etc) Bullish Crossover - Downtrend Breakout Bullish 50D/200D ema crossover. Breaking out of recent downtrend. Near term target: $200-$205 range by mid August Note: Not investment advice
$ZM Zoom - Bearish Descending Triangle Haven't been a big believer in this company from the beginning. Not much of a moat. $MSFT Teams use growing monthly. Monitor for a close below ~$244 key support level. If it breaks out of the upper trend line, this pattern will be invalidated. Near term target: $225.00 by mid August Note: Not investment advice.
$CWH Possible H&S Heading Into ER $35 and the 50d ema will be a key level to watch here. Near term target: $30-$32 range
$RTX Raytheon Earnings Beat - Buy the Dip Raytheon announced Q1'20 earnings this morning - beating both top and bottom line estimates for the quarter. Forward guidance was below expectations, which caused the stock to initially dip -2% in early trading. But smart long term investors quickly bought the dip and the stock ended the day about even. With this move...
$LL Overbought Hitting Resistance Reversal day today after nearing doubling in two weeks. Near term target: $20 (could go lower)