WEEK OF DECEMBER 7, 2020
Ready-to-go setups
These setups look ready to go early this week. Entries and Stops are suggestions and should be adjusted to your risk tolerance and timeframe you’re comfortable trading
AAXN - Axon Enterprise, Inc.
Entry: above $126.62
Stop: $122.40
Nice, controlled pullback on the daily chart to the 20-day MA — likely to find buyers here
Has been holding up well after a strong earnings gap up and has been finding support at the VWAP from earnings
Needs to get back above the flat-to-rising 5-day MA
FSLY - Fastly, Inc.
Entry: above $90.72
Stop: $81.64
Big volume move on news this past Friday put FSLY in-play and comfortably above the flat-to-rising 5-day MA, 50-day MA, and VWAPs from the all-time-high, earnings, and gap
Entry for this play is getting back above the 2-day VWAP (light blue line on the 5 minute chart) near $90.75
Stocks-to-watch
We never know what the market will give us, but we can anticipate and plan ahead. The following setups still need some time to develop over the next few days, so Entries and Stops are areas of focus rather than exact levels
APPN - Appian Corporation
Entry: above $157.00 - $159.00
Stop: $137.00 area
After experiencing a massive run in November, APPN has retraced 61.8%, found support, and has tested the VWAP off the peak
Over the next few days, we want to see the 5-day MA start to flatten out and APPN build some energy underneath the VWAP from the peak before making a move higher
Look to place a stop below the 5-day MA and VWAPs from earnings & the pullback low
BLNK - Blink Charging Co.
Entry: above $25.23
Stop: $21.78
An EV name that has been in-play post-elections. BLNK saw a nice bounce from the 61.8% retracement level and starting to carve out a higher-low
Before getting involved, we’ll want to see the 5-day MA start to flatten out
An area of caution is the VWAP off the peak near $27.70, which will likely find some resistance. Getting through that, we could see a test of the highs
CRSR - Corsair Gaming, Inc.
Entry: $38.00 area
Stop: below $33.00 as the worst case stop
CRSR has found support at the 20-day MA in the past and is testing it once again after pulling back from a big run
We’ll want to see CRSR get back above the 5-day MA and will need to work through the VWAPs from the peak and earnings
Look to buy strength in the $38.00 area with a worse case stop below the 20-day MA
FROG - JFrog Ltd.
Entry: $71.00 - $72.00
Stop: below $64.50
FROG is a recent IPO and is trading just below the VWAP from the IPO date near $70.85
Last week, we saw FROG make a strong move on volume off a second test of the lows. It tested the IPO VWAP and VWAP off the highs, is making a higher low, and could be poised to break through the $72.00 level
NVAX - Novavax, Inc.
Entry: $132.00
Stop: $121.50
NVAX is another biotech that’s in the COVID vaccine race and has been in action this past week
NVAX is back above the rising 50-day MA and break above & found support at the VWAP off the peak
Look for continuation above Thursday’s high of $132.00
UPWK - Upwork Inc.
Entry: $33.50
Stop: below $30.30 as a worse case stop
UPWK still needs to put in a higher low and needs the 5-day MA to flatten out before getting involved
Watch the VWAP from earnings, near $31.00, and the 20-day MA for support
Could still see more continuation off the strong earnings gap
WATCHLIST
Other names to watch this week with levels of interests to set alerts around
ADP - $176.00. Good consolidation pattern at the 20-day MA
ADSK - $281.78. Consolidating at the all-time-highs
BIGC - $83.00. Recent IPO retesting the 50-day MA
CARS - $11.68. Broke out last Friday. Could see continuataion above Friday’s high
CHGG - $78.80. Consolidating above the 50-day MA
CHW - $31.50. Recently broke out of its down trend. Now consolidating above the 50-day MA
FUV - $13.75 - $14.00. Another EV stock that is pulling back and possibly setting up for a second run
GCP - $24.80
GDRX - $39.50 - $40. Trying to recover from a gap-down. May be able to fill the gap
HOG - $40.50
PLT - $27.85
PLUG - $25.60
QSR - $61.00. Consolidating below this level for the past 6 months
REGI - $60.70. Formed a big wedge and riding the 50-day MA
RIDE - $24.50 - $25.00. Still pulling back, but worth watching
SGMS - $38.25
SOLO - $7.55
SPWR - $21.80
VERX - $27.00
VVPR - $9.75
WTRH - $3.70. Got involved in this one last week, but still needs to work through the $3.70 level to get going
