WEEK OF FEBRUARY 1, 2021
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
CARA - Cara Therapeutics, Inc.
Entry: above $19.21
Stop: $18.08
CARA experienced a nice run in January, breaking past longer-term resistance, now acting as support (purple line on the daily chart)
A VWAP pinch is forming as CARA consolidates between the VWAP off the peak and the VWAP from the start of the move. Breaking above $19.21 would get the buyers back in control and we could see another push higher
EXEL - Exelixis, Inc.
Entry: above $23.09
Stop: $22.04 / $21.54
Found sellers twice at the combined VWAPs from the peak and start of the recent rally. Breaking beyond $23 would get the buyers back in control
Some caution as its currently below the 200-day MA
HEXO - HEXO Corp.
Entry: above $6.77
Stop: $5.97 / $6.21
Another name that had a nice rally in January and is now consolidating between two key VWAPs
Many of the other week stocks have been strong as well — keeping an eye on the group for continued strength
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
EOSE - Eos Energy Enterprises, Inc.
Entry: above $23.85 - $24.35
Stop: $21.47
Might need another few days to setup and let the 5-day MA continue to flatten out
Back in a high-volume zone on the daily chart
WATCHLIST
Other names to watch this week with levels of interests to set alerts around. If I see setups developing throughout the week, I’ll usually outline the setup on Twitter
AAOI - $12.00
ABNB - $194
AMC - $14.16
APRN - $10.66
ASAN - $36.25 - controlled pullback, watching this one closely
BEEM - $64.80
BFT - $16.15
BLDP - $35.56
BTBT - $20.00
BZUN - $42.75
CHWY - $106.30
CLF - $16.68
CURI - $17.89
DADA - $45-ish
DASH - $201.50
FUBO - $46.36
GLNG - $11.25
KC - $52.00 - holding up well after a nice breakout
LAC - $21.50
LAKE - $28.50, stop at $26.88 - this one is setup well. a bit of a slower stock, lighter volume
MARA - $21.50 - holding well above the $19 level after a strong move in crypto stocks
OPK - $5.66
OSTK - $83.00
PLTR - $38.00
PRCH - $16.00
RIOT - $21.50
SBLK - $10.75
SENS - $2.70
TRGP - $28.75
VERX - $34.28
VFF - $34.28
