$ANET display a rare behavior you could find, resilient to months of market weakness frm its previous ER gap up (Q3) in Nov'21. a siew of recent VWAPs have coincide to resist $ANET at $128 last week. actionable on VWAP breakout Q4'21 ER YoY EPS 0.82 (+32%) Sales 784mil (+15%)
$SPX breached its 200-day moving average, as $SPX upward momentum faltered with a -1.90% plunge on Friday after National Security Advisor Jake Sullivan acknowledged there was a “distinct possibility” that Russia could invade Ukraine before the end of the Olympics. $SPX ended the market week with a loss of -1.82%. $SPX remains resisted by a Downtrend Line...
$RYAN 6mth old insurance name IPO. based off (-12%) the January market weakness and looking to reclaim its ATH close of $40.36. RS is at ATH. trading above all critical VWAPs, MAs. a trading idea to take on BO for further trending action.
$DDS held onto $225 support on 3 occasion during the market correction in dec and jan, forming a very constructive cup and handle formation. now trading above 10/20/50MA this week, but still have a ATH VWAP at $278 to recapture. that will be the cleanest breakout level imho.
$NEWR very constructive coiling pattern, and obeying between ATH VWAP resistance and pre-ER trough VWAP. wouldn't take a trade now as ER Post-M later where price action are binary event, a gamble. if first bar trades to the upside of triangle tml, it is trend resumption BO. WL
$RHI a 2021 market darling until the last week of November, where it undercut its 50MA for the rest of the year. currently established a higher low with cup and handle pattern. weekly chart, it capture back its 10MA for the first time in 7 weeks. actionable trade for today
Jeff Sun @jeffsuntrading · 29m $BTCUSD has a 0.87 positive coefficient to $SPX from 2 yrs ago (Feb 2020) on technical perspective, the biggest risk of a another washout in the stock market may come from a bear flag breakdown, with major double top follow through from #Bitcoin #bitcoin needs a relief rally
Utilities name are usually not a go-to for swing traders as there is tendency of choppy price action around its MA, and low ATR% $EXC however, behaves superbly as an utility stock with history of trading consecutive up days on several occasion in 2021 alone. ATH currently
$GLNG falls under O&G industry group but what caught my eye is purely technical. currently basing a 2yrs chart pattern (ascending triangle), a potential trend reversal setup in play. attempted to trade out of 2018 high VWAP at $14.45. actionable trade at $14.60. pretty liquid
$RMBS bounced off its 200MA, confluence with its 2 yr trend channel support. one of the most traded name in my 2021. still on the sideline for this as ER on 7/2, but i like to re-visit my past multiple winners like $JYNT and $TSLA
$PTEN is a onshore drilling contractor for o&g operators in US and CA. RS as it traded to one month high, higher lows since dec'21 with rising in all MAs of various timeframe. cup and 2 years cup and handle pattern. we have a good 2 weeks to Q4 earnings for some risk cushion.
$BROS is now looking interesting to me with its volatility contraction since Nov'21. +17.6% over the last 2 days but this may just be the beginning as it just broke above its DTL. $55.50 would trigger a base breakout. $50.80 to nimble some test position above 50MA
$TRGP in midst of a setup (cup and handle) within its uptrend line supporting since jan'21. do note bigger cap oil & gas names (eg. $CNQ, $CVE, $DVN, $PXD) have earlier ran much ahead of their 52wks high in early January. earnings on 24th feb pre-market
$CF finished the last two days with +250% volume over its 50d avg over the past two session (exceeding over $450mil on each day!) remains within a 4 months trend channel. closing price is just beneath AVWAP from ATH. one of the few names trading above 10 and 200MA specifically.
$UTZ one of the few names in my WL that could hold its 50MA. base with inverse head and shoulder pattern. decent fundamentals but key for me now is price action of name that could hold a market sell down.
$BABA is caught in a 15-month downtrend channel but there could be short term upside opportunity ahead. trading above Q2 earnings VWAP & 10/20MA. also attempted to re-capture its 50MA, with MA convergences taking place. price action behavior is very similar to oct'21 period.
$FXLV still a position that i have yet to trim and size out. it is currently in a cluster of supports (rising 10/20MA, VWAP from high, and classical resistance turned support level). looking to add this further at $12.65. new IPO stocks (<1yr) tends to dictate its own movement
$UCTT supported on its ATH VWAP support with a cup and handle pattern. Friday's high volume ($50mil dollar vol vs $20mil avg dollar vol) strong close at +7.6%, exceeds its ATR of 4.74%. fundamentally strong company. what I dislike is that it doesn't trend cleanly on its 50MA