WEEK OF FEBRUARY 8, 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
ABNB - Airbnb, Inc.
Big picture (daily chart):
ABNB has been in a steady uptrend of higher-highs and higher-lows since its IPO in December 2020
Has been holding above the 20-day MA, where it has continued to find buyers
Entry (30 minute chart):
Buy: above $195.75
Stop: $185.94
The 5-day MA has started to rise and well above the year-to-day VWAP
Over the past two trading days, ABNB has held above the VWAP off the peak and looks ready to go above Friday’s afternoon high
AR - Antero Resources Corporation
Big picture (daily chart):
AR has move out of a multi-year downtrend / consolidation and started its uptrend in December 2020
AR is holding above the 20-day MA and the year-to-day VWAP
Entry (30 minute chart):
Buy: above $7.67
Stop: $7.22
Holding above the VWAPs from the recent highs
Last Friday, AR broke out of its recent consolidation and above the rising 5-day MA. Looks ready to go above Friday’s highs
CPST - Capstone Turbine Corporation
Big picture (daily chart):
CPST broke out of a month-long consolidation and is now back above the 20-day MA and year-to-date VWAP
CPST has also built a large volume shelf, which can serve as a launch pad
Entry (30 minute chart):
Buy: above $12.94
Stop: $11.33
On Friday, CPST got back above the VWAP from the recent highs. If it can hold here, this puts the buyers back in control - looks ready to go above Friday’s highs
Note:
Earnings: February 9, 2021 after market close
CRSP - CRISPR Therapeutics AG
Big picture (daily chart):
CRSP has been finding buyers at the VWAP from its breakout in November 2020 (pink arrows)
CRSP is now at the 50-day MA, where longer-term buys are likely to be found
Entry (30 minute chart):
Buy: above $170.00
Stop: $162.92
CRSP recently recaptured the flat 5-day MA
If CRSP gets going, it will likely find a quick move up to the year-to-date VWAP and VWAP off the peak near $182
CYH - Community Health Systems, Inc.
Big picture (daily chart):
After a strong breakout in January 2021, CYH has pulled back and is now consolidating above previous highs, the year-to-day VWAP, and 20-day MA
Entry (30 minute chart):
Buy: above $9.55
Stop: $9.12
The 5-day MA has begun to flatten out
It may need another day or two, but should be able to get going above Friday’s highs
Likely to find a little resistance at the VWAP off the peak near $9.80
PLTR - Palantir Technologies Inc.
Big picture (daily chart):
PLTR has been in-play since its IPO in 2020
PLTR has pulled back to previous highs and is consolidating above a rising 20-day MA
Entry (30 minute chart):
Buy: above $35.20 or $34.10
Stop: $31.68
The 5-day MA will be flattened out on Monday
On Friday, PLTR got back above the 5-day MA and pulled back from the VWAP off the peak
Early entry for PLTR is above Friday’s VWAP at $34.10
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
RXT - Rackspace Technology, Inc.
Big picture (daily chart):
RXT is a recent IPO that has broke out to new all-time highs
RXT has pulled back to previous highs and is consolidating above a rising 20-day MA
Entry (30 minute chart):
Buy: above $23.08
Stop: $21.68
On Friday, RXT recaptured the 5-day MA and tested the VWAP off the peak
It’ll need a couple days for the 5-day MA to flatten out and consolidate a bit before retesting the highs
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
AAPL - $137.50
ACB - $13.25
AKAM - $116.00
AMWL - $36.00
APRN- $10.35
ATEN - $10.60, stop at $10.02
BIGC - $85.00
BLNK - $53.00
BYND - $173.50 - watching this one closely
CIEN - $55.50
CLF - $16.70 - needs to pullback first
CLSK - $31.70 - needs to pullback
CNDT - $5.20
DADA - $47.30, stop at $44.13 - choppy stock, but looks like it wants to get going
DASH - $198.00
EBAY - $67.82
EGHT - $36.00
GEVO - $11.84, stop at $11.26
GLNG - $12.00
GOEV - $18.00
GOGO - $13.50
HOME- $25.14 - holding the 20-day MA
HYFM - $87.30
KNDI - $9.02
LAC - $21.00
LAZR - $34.20
LMND - $154.25
MARA - $23.90 - watching as bitcoin is making new highs
MTOR - $30.52, stop at $29.78 - could see continuation after its big earnings gap
NEE - $84.50
NIO - $59.20
NNDM - $15.37 - holding well above the 5-day MA
OPTT - $5.30
OTRK - $83.30
PLUG - $70.50
POLA - $21.30
RAD - $24.62
REGI - $99.85
RKT - $22.40
RVP - $19.56 - good consolidation, riding the 5-day MA
SEDG - $312.00
SNOW - $319.00
UNFI - $27.00 - watching this one closely. nice pullback / consolidation
VIBV - $3.93
