Watchlist 2023-02-15 #SHOP #CRDO #DVN #NU #TOST
SPY made an attempt to breakout of the weekly bullish flag yesterday but failed, closed below PD high, and now gapping down. Bears seem to be in control for the short-term following the slight hot CPI umber. Slightly bearish bias today but need to start closing below PD low for confirmation.
SHOP - traded shop at the close yesterday and saw some large order flow buying on the offer. This could be indicating a positive outlook for earnings after close. Preparing for a retest of the HVN at 50 for a gap n go today.
CRDO - gapping down 9 ATRs trading it's average vol in the PM! Traded to the key pivot at 9.40. This is a significant watch. If we get below the pivot and quickly reclaim, this could be a capitulation long. However, every holder would want out of this name so expect some downside first.
DVN - gapping below the key 59.30 pivot below the 200 EMA on earnings miss. Also breaking the trendline support (not huge value in this but notable). If the tape stays weak there is room to 56.50 as it's 2 ATRs away.
NU - Reports Qtrly Adjusted Net Income $113.8 Million Versus $3.2 Million As Reported Last Year. Spready in the PM and has already trading to the key 5.50 level. If it can't get below 5.30, there is an opportunity to but at the lower end of the range with low risk and wait for a potential breakout.
TOST - another very bullish daily buy setup gapping over the weekly pivot, above the 200 MA and a very clear void. Watch momo here as it also reports after the close. No vol PM so it's a wait and see.
Other watches: TSM, RBLX
I focus on names trading elevate RVOL>2, trading past key ranges and pivots, preferably with news catalysts
SHOP - traded shop at the close yesterday and saw some large order flow buying on the offer. This could be indicating a positive outlook for earnings after close. Preparing for a retest of the HVN at 50 for a gap n go today.
CRDO - gapping down 9 ATRs trading it's average vol in the PM! Traded to the key pivot at 9.40. This is a significant watch. If we get below the pivot and quickly reclaim, this could be a capitulation long. However, every holder would want out of this name so expect some downside first.
DVN - gapping below the key 59.30 pivot below the 200 EMA on earnings miss. Also breaking the trendline support (not huge value in this but notable). If the tape stays weak there is room to 56.50 as it's 2 ATRs away.
NU - Reports Qtrly Adjusted Net Income $113.8 Million Versus $3.2 Million As Reported Last Year. Spready in the PM and has already trading to the key 5.50 level. If it can't get below 5.30, there is an opportunity to but at the lower end of the range with low risk and wait for a potential breakout.
TOST - another very bullish daily buy setup gapping over the weekly pivot, above the 200 MA and a very clear void. Watch momo here as it also reports after the close. No vol PM so it's a wait and see.
Other watches: TSM, RBLX
I focus on names trading elevate RVOL>2, trading past key ranges and pivots, preferably with news catalysts