WEEK OF FEBRUARY 22, 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
APPS - Digital Turbine, Inc.
Big picture (daily chart):
APPS has been in a strong uptrend over the past year with a rising 20, 50, and 200-day MAs
After a strong earnings reaction on Feb 4th, APPS had a quick run, followed by a pullback and a strong bounce off the month-to-day VWAP — holding onto the earnings gap well
Entry (30 minute chart):
Buy: above $88.19
Stop: $83.33
The VWAP from earnings and the flat 5-day MA are aligned at ~$83.80. APPS got above and held above this level on friday
Getting back above Friday’s high could get this one going. For an early entry, getting above Friday’s VWAP & afternoon high of $86.00 could be a good place to start a position
DKNG - DraftKings Inc.
Big picture (daily chart):
DKNG recently broke out of an intervert head-and-shoulders pattern, followed by a steady pullback to the 20-day MA
Strong overall uptrend with a rising 20, 50, and 200-day MA. ARK invest also increased their position at the beginning of February
Entry (30 minute chart):
Buy: above $61.83
Stop: $59.43
Holding above the rising 5-day MA and into two relevant VWAPs
It looks ready to go, but may need another day to consolidate as it just ran from $56.50 to $61.50 in two days
If its strong, an early entry could be above Friday’s afternoon high of $61.30
Note:
Earnings report before the market open on February 26, 2021
PENN - Penn National Gaming, Inc.
Big picture (daily chart):
PENN has been in a strong uptrend with a rising 20, 50, 200-day MA and year-to-date VWAP
Find support a previous resistance - holding onto gains well, especially as a majority of stocks experienced large pullbacks this past week
Entry (30 minute chart):
Buy: above $122.30
Stop: $115.64 (tighter stop alternative: $117.82)
Broke above the VWAPs from earnings and the peak on Friday — these VWAPs previously found sellers
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
APHA - Aphria Inc.
Big picture (daily chart):
Weed stocks had huge runs a couple weeks ago — they’ve since pulled back and APHA has recovered well
Entry (30 minute chart):
Buy: above $20.57 - $21.30
Stop: $18.87
Holding above the flat-to-rising 5-day MA, which is positive, but still needs to clear the VWAP from the peak at $21.30 to really get going. May need another day or two to build that energy
GRWG - GrowGeneration Corp.
Big picture (daily chart):
Of the weed plays, GRWG is positioned very well as they offer a diverse variety of equipment and supplies for growers
GRWG hasn’t experienced the same volitility as many of the other weed stocks — its consolidating in a tightening range above the 20-day MA
Entry (30 minute chart):
Buy: above $59.67
Stop: $56.04
Still needs a day or two of consolidating in this area to hold above the relevant VWAPs and the 5-day MA
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
ABNB - $205.50
AGEN - $4.65
AGFY - $15.50
AMAT - $122.00 - looking for continuation after a big move off earnings
AMKR- $24.08 - still needs some time to consolidate
AMRN - $7.86
AREC - $6.95
ASAN - $42.50
ATEN - $9.60
ATI - $19.50
BBY - $120.00
BNGO - $14.35 - watching this one pretty closely as well
BQ - $10.00
BRKS - $88.00
BSX - $38.35
CLF - $17.32
CSOD - $53.50
DDD - $47.50
DIS - $187.63
EBAY - $63.35
EXPI - $75.50
FTFT- $9.80
FUBO - $46.30 - could be ready to go soon
IRDM - $48.00
MAXR - $49.90
MGNI - $58.94
MRNA - $179.30
NVAX - $293.00
OPEN - $33.50
PINS - $87.00
PLT - $52.60
PLTR - $30.50
PRCH - $21.77
SBLK -$13.94
UPST - $93.00
VFF - $17.50
VRM - $50.00
