WEEK OF MARCH 15, 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
AI - C3.ai, Inc.
Big picture (65 minute chart):
The 65 minute chart shows all the days since IPO. It is currently below the IPO VWAP (~$125) and the IPO from the recent peak (~$107.80), which are both potential price targets.
AI experienced a strong sell-off since the first week of February 2021. It finally broke that downtrend and got back above the flat 5-day MA last week.
Looks like AI may be creating a base to begin moving higher.
Entry (30 minute chart):
Buy: in the $88-90 range
Stop: $82.78 or $85.38
Got a little extended on Friday with a move straight from $83 to $90 and found resistance at the VWAP from earnings. Looking for a pullback towards $88.50 and buy strength above the 1 & 2-day VWAPs.
May need an extra day to build some energy and break above the VWAP off earnings at $90.50.
DMTK - DermTech, Inc.
Big picture (daily chart):
Found support at the rising 50-day MA (green line), but currently being held back by the YTD and Monthly VWAPs (purple lines).
Entry (30 minute chart):
Buy: above $54.31
Stop: $49.74 or $50.73
Holding above the VWAP from earnings on March 5th and the rising 5-day MA.
Looks like it could get up to the $64 area if it can get going.
Note:
High short float of 28.96% — may make for a good short squeeze candidate
DVN - Devon Energy Corporation
Big picture (daily chart):
Strong uptrend since October 2020, above the rising 20, 50, 200-day MAs.
Entry (30 minute chart):
Buy: above $24.75
Stop: $23.90
Pulled back off the recent peak and holding above the 5-day MA. Looks like it can get going above last Thursday and Friday’s high of $24.75.
PRCH - Porch Group Inc.
Big picture (daily chart):
Since the IPO, PRCH has had a patter of breaking downtrends, followed by strong rallies. PRCH recently broke a downtrend and may be starting another rally to retest the highs.
Its currently above the 50-day MA, but could find some resistance at the declining 20-day MA. The 20-day MA should start to flatten over the next week.
Entry (30 minute chart):
Buy: in the $18.50 - $19 range or above $19.40
Stop: $17.64
Saw a strong bounce off the lows near $15 and rallied right up to the VWAP off the peak (~$19.40). Should get some energy to break through this level as the rising 5-day MA comes up to meet it
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
AGFY - $14.00. Making a base and looks to be building energy. The 20-day MA should be flattening out this week.
CRM (short) - $211-209. If it holds below $213, we could see further downside. Will need another day or two for the 5-day MA to start to decline.
DASH - $147.80
DIS - $198.41, stop at $195.14. Holding up really well - good fundamentals with their streaming service success and parks opening back up.
GDDY (short) - Short a bounce towards $73 if the market is weak, stop at $74.16.
HYFM - Looking for a pullback toward $59-58. Looks like a good longer-term hold candidate.
JMIA - Looking for a pullback towards $44
LESL - $23.94, stop at $23.08
LFMD - $18.50, stop at $16.54
LMND - $105, stop at $97.66
MMEDF - $2.84
REGI - $82.40, resistance at $88.00
SOS - $7.09, stop at $5.86
STNE (short) - $70.50, stop at $72.46
TNDM (short) - $87.00, stop at $92.05 / $89.54
