I realized that Masco could breakout a couple days ago, but never posted it because I didn't know how far it could run up. I'm still not sure, but considering home building is making a strong rebound, it could continue to break its all time highs.
Toyota has been trading in a channel, potentially rising wedge. It sits in a strong industry with Tesla currently bringing up technicals for a lot of autos. It is currently at $125 and will hit resistance around $136 if it stays in the channel. On the downside, $120 looks like an area of support and an indication that our trade is not functioning the way we...
DLTR has set itself up in a wedge formation, which is indicating a potentially big move to either side. With COVID-19 positively impacting the discount stores because of the struggling consumer focusing on essential products, I see this going to the upside. Current price is around $91 and I see this potentially testing the resistance level of $106 in the future if...
Strong support to the downside. There is a long term resistance level around $290 and if investors can break free of that, then price will rocket 🚀
I wouldn't go long until we see a break at least above $291 level on higher volume than normal.
TWOU is part of the continuing virtual education trend that will continue to be traded during the coronavirus. This play sees TWOU moving from $37.74 up to around $43 in mid-July. The stop loss is below the support line for the channel, which indicates that the trade idea is not working. The upside is around 14% and the downside is around 10%.
SPWR is in a strong industry group from the past few months. It has been trading in a channel since March and is at it's low point. I would get in at these levels until it reaches the top end around $9.40. I would set a stop loss at $6.70, which would indicate that the stock has left its trend.
Upside is around 27% and downside is about 9%, which is attractive.