WEEK OF AUGUST 31, 2020
Ready-to-go setups
ARW - Arrow Electronics, Inc.
Entry:
Look to purchase ARW in this area, around the 7755 level. It breached this level late last Friday.
Stop below the 5-day MA, near 7545
Additional Info:
On the daily chart, the 50-day MA is crossing the 200-day MA, which will attract longer-term investors (blue circle)
On the daily chart, ARW has consolidated nicely above a rising 20-day MA
CUBE - CubeSmart
Entry:
Look to buy above 3160. Started to test this level late last Friday.
Initial stop below the 5-day MA, near 3064
Holding nicely above the VWAP from recent earnings
Additional Info:
On the daily chart, the 50-day MA is crossing the 200-day MA, which will attract longer-term investors (blue circle)
On the daily chart, strong consolidation above a previous resistance level (blue square)
NCR - NCR Corporation
Entry:
Look to buy around the 2120-ish level
Initial stop below the 5-day MA, near 2075
Testing and starting to break above the VWAP from the recent high (blue line)
Additional Info:
On the daily chart, good consolidation above a previous resistance level (blue square)
May find some resistance at the declining 200-day MA. This is the initial price target, around 2400 (blue circle)
PINS - Pinterest, Inc.
Entry:
Look to buy in this area, around 3500
Initial stop below the 5-day MA, near 3393
Testing and now holding above the VWAP from the recent gap / earnings (blue line)
STLD - Steel Dynamics, Inc.
Entry:
Look to buy above Friday’s high, 3040
Initial stop at 2940
Testing the VWAP from the recent lows (blue circles) while the 5-day MA was declining. Now broke above as the 5-day MA is starting to rise.
Additional Info:
On the daily chart, the 50-day MA is crossing the 200-day MA, which will attract longer-term investors (yellow circle)
Nice consolidation above a previous resistance level (blue box) and the rising 20-day MA
Still setting up
CFX - Colfax Corporation
Entry:
Would like to see CFX hold above a flat-to-rising 5-day MA for a could days, then buy above 3423
Initial stop below the 5-day MA, near 3295
Needs to get above the VWAP from the recent high and latest earnings (blue lines)
Additional Info:
On the daily chart, good consolidation above a previous resistance level (blue square)
WATCHLIST
ACM
ADNT
ADM
APHA
APPS
AQUA
ARW
ATUS
BLDP
BYD
CFX
CNDT
CUBE
DCP
EVTC
EXTR
FCEL
FLEX
FOSL
GLNG
GMED
HSC
IMMU
KBH
KTOS
MOBL
NCR
NAVI
OLED
PGNY
PINS
PLAY
PLUG
QSR
RVLV
SONO
STLD
TWOU
VIAV
*Bold = stocks I’m watching closely
