SPY building a few notable patterns. On the daily, a clear bullish flag. On the hourly over the last 3 days, an ascending triangle, where it’s attempted to break 413 numerous times but failed. Closing below 410 on the hourly may indicate further show-term downside pressure to 416. However, if we don't see that buying strong names near the bottom of the channel is the play.
TWLO - Twilio Stock Jumps 15% on Job Cuts and Buybacks. Made an impressive range in the AH/PM. Clear rejection at 77.75. Depending on how the market behaves this morning, if we see an aggressive pullback earl on there could be a gap n go opportunity near 67. Otherwise this is a wait and see. If we don’t see 67, wait for a dip, gets back to VWAP without a reject. And if we see a fake out below the buy set up that is quickly bought, there is room higher.
SABR - down 20% PD but had a capitation below key pivot at 5.56. Now back above that level which leaves plenty of room higher for a scalp long in the morning now that the sellers are done. Above 5.75 there is room to 6. 23
CSCO - earnings and revenue beat, annual forecast raised. Long over 50.50
DDOG- shares fell 7% Thursday morning after the cloud software firm issued a full-year 2023 outlook that fell short of analysts estimates. Needs a retests of the upper range to consider a short.
Other watches:
RNG - Evercore cuts following weak revenue
LTHM - daily buy setup over 26.82
I focus on names trading elevate RVOL>2, trading past key ranges and pivots, preferably with news catalysts
TWLO - Twilio Stock Jumps 15% on Job Cuts and Buybacks. Made an impressive range in the AH/PM. Clear rejection at 77.75. Depending on how the market behaves this morning, if we see an aggressive pullback earl on there could be a gap n go opportunity near 67. Otherwise this is a wait and see. If we don’t see 67, wait for a dip, gets back to VWAP without a reject. And if we see a fake out below the buy set up that is quickly bought, there is room higher.
SABR - down 20% PD but had a capitation below key pivot at 5.56. Now back above that level which leaves plenty of room higher for a scalp long in the morning now that the sellers are done. Above 5.75 there is room to 6. 23
CSCO - earnings and revenue beat, annual forecast raised. Long over 50.50
DDOG- shares fell 7% Thursday morning after the cloud software firm issued a full-year 2023 outlook that fell short of analysts estimates. Needs a retests of the upper range to consider a short.
Other watches:
RNG - Evercore cuts following weak revenue
LTHM - daily buy setup over 26.82
I focus on names trading elevate RVOL>2, trading past key ranges and pivots, preferably with news catalysts