WEEK OF OCTOBER 12, 2020
Ready-to-go setups
BIDU - Baidu, Inc.
Entry:
BIDU looks good for an initial entry above Friday’s high of 12764. The real level BIDU needs to clear is 12900, but I think we can get involved a little early before the breakout.
Tighter stop can go at 12530. If you want to give it more room, below 12340 would be the worst case stop.
Additional Info:
BIDU is above the 20, 50, and 200-day MAs.
Saw buying at the 200-day MA over the past few months. Looks to be tightening its range and putting more pressure on the 12900 resistance level.
FUV - Arcimoto, Inc.
Entry:
FUV has been consolidating over the past few days and looks good for a buy above 653.
Stop at 601. For a tighter stop, 618 looks good.
Additional Info:
On the Daily chart, this stock has seen some big percentage moves. Has been consolidating in a tighter range between the 20 & 50-day MAs.
May find some initial resistance at an important VWAP overhead at 668.
PYPL - PayPal Holdings, Inc.
Entry:
PYPL looks good above 19737, which are the highs from last week and where it closed on Friday. Would be ideal to see a slight pullback to the 5-day MA first, but PYPL looks ready to go.
Worse case stop at 18920. Tighter stop can go at 19255.
Additional Info:
PYPL has been consolidating nicely above the rising 50-day MA.
Above the VWAPs from the recent peak and low.
VERX - Vertex, Inc.
Entry:
VERX looks good for an entry above of 2562.
Stop at 2424.
Additional Info:
VERX is above the VWAP from the IPO, so the average participant in this stock is in a winning position.
ZM - Zoom Video Communications, Inc.
Entry:
ZM broke out of its tightening range from the past couple weeks and looks good above Friday’s high of 49890.
Stop below 47310.
Additional Info:
ZM is holding above its 5-day MA and saw some good volume on Friday.
ZM is holding above relevant VWAPs from earnings, recent peak, and start of its last push higher.
Still setting up
FROG - JFrog Ltd.
Entry:
FROG needs to get back above the 5-day MA and consolidate for a day or so. Entry looks good above 7685.
Right now, looks like a stop can go at 7220. Look to tighten that up under a higher low and/or below the 5-day MA.
Additional Info:
FROG is above the VWAP from the IPO.
Might run into a little bit of trouble from the VWAP off the peak, around 7940.
WATCHLIST
ACB - Weed stock have been getting some attention this past week. Above Friday’s mid-day level of 523 could see some continuation.
ADBE - Watching the 50150 level. Would like to see another pullback.
ARLO - Great looking Monthly chart, looks like a good investment opportunity.
BQ - Looks good above 699, stop at 618.
CWH - Still setting up. Watching the 3324 level.
DOCU - Looks good above 22643. Really needs to clear 22886. Stop at 22130.
FB - Looks good above 26570.
FOSL - Might be good for a trade above 692, stop at 631.
GDDY - Still setting up, watching the 7800-ish level.
GDRX - Could get going above the 5600 level.
HUYA - Watching the 2585-ish level. Will need to pullback a bit.
MDLZ - Want to see this consolidate above the 5-day MA for a bit. Watching the 5748 level.
SOHU - Holding onto gains from the recent gap. Watching the 2050 level.
UBER - Watching the 3850 level.
YY - Watching the 8400-ish level.
