WEEK OF FEBRUARY 16, 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
APPN - Appian Corporation
Big picture (daily chart):
APPN has been in a strong uptrend over the past year with a rising 20, 50, and 200-day MAs
Has a pattern of strong runs, followed by periods of consolidation. Looks to be setting up for another move higher
Entry (30 minute chart):
Buy: above $225.49
Stop: $212.24
Holding above the VWAP from the start of its last run and has recently recaptured the VWAP off the peak
Looks to be setting up for a low-risk entry above a flat 5-day MA
Notes:
Earnings February 18, 2021 - after market close
ZEN - Zendesk, Inc.
Big picture (daily chart):
Strong uptrend since the March 2020 lows
Recently experienced a strong bounce off the 50-day MA and broke to new all-time highs. Holding onto those gains well
Entry (30 minute chart):
Buy: above $158.04
Stop: $155.47 or $153.93 (tighter stop alternative)
Controlled pullback off the all-time highs
Tested the VWAP off the peak a few times. Got back above the 5-day MA on Friday and looks ready for the buyers to get back in control with a break above the VWAP off the peak
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
APPS - Digital Turbine, Inc.
Big picture (daily chart):
Big winner over the past year with a power earnings gap on Feb 4, 2021
Entry (30 minute chart):
Buy: above $90.90
Stop: $84.23
Nice VWAP pinch forming from the earnings gap and recent high. Will likely need a couple days to continue to setup and recapture the 5-day MA
CELH - Celsius Holdings, Inc.
Big picture (daily chart):
Strong run after a power earnings gap in November 2020
Decent pullback off the highs, but has recovered and has been consolidating at the 20-day MA
Entry (30 minute chart):
Buy: above $65.00
Stop: $59.52
Looking for this one to get going on Wednesday as it’ll need at least a day for the 5-day MA to flatten out. Still needs to prove itself, but acting well with the most relevant VWAPs
HIMS - Hims & Hers Health, Inc.
Big picture (daily chart):
Recent SPAC that has doubled in 3 weeks - strong run with a healthy pullback off the highs
Entry (30 minute chart):
Buy: above $23.15
Stop: $20.87
Found support at the VWAP from the start of the January 28, 2021 move
The 5-day MA should flatten out by Wednesday
Looking for some more consolidation in this area, hopefully forming a higher low before it runs
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
ABDE - breakout level was $497.00 - looking for a pullback towards $498 / $497.50
ADSK - $305.50 - looking for a pullback before breaking this level
ALGN - $612.00
AQB - $9.60
AREC- $7.00
ASAN - Looking for a pullback towards $40.50 / $41.00
ATVI - $104.23
AVXL - $13.90
BFT - $17.43
CLF - $16.82, stop $16.24
CLNE - $17.60
CRSR - $44.36
CRUS - $90.17, stop $87.44 - looks ready to go, but some caution as its below a declining 20-day MA
CSIQ - $61.91
DASH - $212.00 - nice pullback on Friday
DM - $31.22 - will need a couple days of consolidation
EBAY - $63.20
FUBO - still setting up, but looks like it’ll need to get over $47.70
GDRX - $56.45
GEVO - could get going on Tuesday after a Friday afternoon push, watching $14.70
GNPX - $7.22, stop $6.63
GOEV- $17.25, forming a nice triangle on the daily chart
GPK - $16.90, stop $16.43
HYFM - big push on Friday, looking for a pullback before getting involved
LAC - $23.30 / $22.91, stop $21.04
LAKE - pullback after a big run, will need to clear $41.70
MAXR - $51.85
MGNI - $62.50, stop $58.63
OPTT - $5.40, stop $4.79
PENN - $119.43 - needs a couple days to pullback and consolidate - probably Wednesday or Thursday
PLT - $44.39
PTON - got moving on Friday, looking for a pullback
RAD - $26.00
RYAM -pulled back after a move on Friday, watching $9.40
SFIX - $90.68
SUP - big run on Friday, watching for a pullback
UAVS - $14.96, stop $13.33
UNFI - $28.80
WATT - $4.44, stop $4.04
WIMI - $11.44 / $11.07, stop $9.89
XONE - $57.02, stop $49.73
VLO - $65.00, stop $63.78 or $62.84
