I am seeing a little more strength showing up in the market now and then. Not to say that we’re heading higher, but there are some cautious signs that we might try to do so. For me the indices are not leading, I’m mainly looking at how much stocks are showing up on my screens and how the charts look like.
And currently a more stocks are setting up nicely. The next thing is to be aware of any breakouts happening and if they find any follow-through. That’s a sign of retail investors buying and causing the breakouts while the institutional investors are selling in those pops. So it needs to change in order to be really ready to go higher.
Again I am mainly looking at stock setups and how they are working out, I might adjust my strategy a little by taking profits earlier and placing stop a little tighter before I’m confident enough there is enough upwards potential.
So nice talking, let’s talk some charts!
RBLX is one of the stocks that I believe can become one of the next big runners. So I took an agressive position with a tight stop. Last Friday it broke it out and is now trading near the next, and latest resistance before the skies are clear. So if you’re looking for another buy opportunity I’d be looking for a strong volume move through $83.41, with a sell stop at it’s 10EMA. For me that will be a sign for adding to my position.
Watch UPST for a strong move through $165.66, with a stop loss at the 50SMA.
Watch PATH for a big volume move through $83.40, with a sell stop at $76.90.
Watch BBQ for a strong move through $15.47, with a stop loss at $14.05.
Watch FDX for a big volume move through $317.00, with a sell step at it’s 20EMA.
Watch BGFV for a strong volume move through $30.88, with a stop loss at the 20EMA.
Watch OBNK for a strong move through $45.25, with a stop loss at it’s 50SMA.
Watch F for a big volume move through $13.62, with a sell stop at $12.99.
On Wednesday, Ford (F) holds a Capital Markets Day to discuss its strategy on electric vehicles and digital services. Analysts at Deutsche Bank expect a possible update on global restructuring efforts
and timing on profi tability targets. They also think an update on Ford’s autonomous-vehicle strategy is possible, amid reports that its Argo AI business has been making progress toward commercializing self-driving cars.
Watch CVLT for a strong volume move through $71.72, with a stop at the 50SMA.
As always I’m wishing you the best for this week and let me know what your watchlist looks like!