WEEK OF JANUARY 25, 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
BTBT - Bit Digital, Inc.
Entry: above $18.20
Stop: $14.62
Bitcoin related stock that experienced an explosive move in Dec 2020 has retraced 61.8% and is consolidating near the 20-day MA
With the 5-day MA (yellow line) flattening out, we could see another leg higher
Two areas to keep an eye on (purple circles) are the VWAPs off the peak ($23.80) and from the start of the move ($19.25)
CLNE - Clean Energy Fuels Corp.
Entry: above $10.99
Stop: $9.44
Energy stocks have been in play and CLNE has been forming a nice consolidation pattern over the past couple weeks
Holding above the relevant VWAPs and 5-day MA
Note: Tweeted about this setup on Jan 20 and got involved at $10.17. Will likely add to my position at our trigger
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
DASH - DoorDash, Inc.
Entry: above $195.50 - $197.00
Stop: $182.90
Healthy pullback and consolidation after a big move - holding onto gains well
Got going a little late on Friday, but ideally I’d like to see DASH consolidate here for another day or two and let the 5-day MA flatten out a bit
Will need to clear the VWAP off the peak (~$197) to really get going
GOEV - Canoo Holdings Ltd.
Entry: above $18.00
Stop: $15.94
Recent IPO in the EV space
Holding up well above the VWAPs from the IPO and lows - after a little shakeout below these levels early last week
Will need to clear the VWAP off the peak (~$18) to get the buyers back in control
Short float 27.45%
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
AMWL - $30.47
ATEN - $10.15
BBY - $116.00
BIGC - $73.00
BYND - $142 - $146
CHWY - $107.34
COTY - $7.10 - likely tiggered a lot of stops last week. Could be a good candiate for a quick bounce
CPST - $12.67 - holding the 20-day MA
CRON - $11.20
CVNA - $279 - $282
DDOG - $106.15
DKNG - $54 - $54.50
FCEL - $18.32
GDRX - $43.45 - got going late Friday. Looking for a small pullback. Caution with declining 50-day MA
GNOG - $21.46
GNPX - $3.98
HEXO - $7.00
KNDI - $8.50
LAZR - $34.40
LMND - $154.00 - needs to clear VWAP near $159.50
MVIS - $7.02
NUVA - $57.88
RIDE - $25.00
RUN - $89.50
RVP - $12.90
SOLO - $8.50
SPG - $96.00
SUM - $23.90
TLRY - $19.00 - short float 41.69%
TRIP - $34.25
VLDR - $23.60
VRM - $38.10
W - $308.60
WKHS - $24.50
