WEEK OF OCTOBER 5, 2020
Ready-to-go setups
ADM - Archer-Daniels-Midland Company
Entry:
ADM looks good above Friday’s high of 4705.
Initial stop at 4591, below Friday’s low. Or at 4639 for a tighter stop, which is below the 5-day MA and VWAP from the peak.
Additional Info:
ADM has a little inverted head & shoulders pattern on the 15 minute chart, with the neckline around 4700.
Strong uptrend on the Daily chart with rising 20, 50, 200-day MAs.
ADM is a slower stock, but looks to be setup well.
HOME - At Home Group Inc.
Entry:
HOME should be able to get going above 1591, which is also the VWAAP from the gap-down / earnings.
Ideally, HOME will pull-back to about 1530 before it gets going to create a higher-low that we can put a stop under. If not, the initial stop will need to go at 1439.
Additional Info:
On the Daily chart, the 20-day MA is starting to flatten and turn higher.
HOME has been finding support at the 50-daay MA.
IQ - iQIYI, Inc.
Entry:
IQ looks good above 2327 as the 5-day MA starts to flatten out and IQ is above the VWAP from the recent peak.
Stop at 2264, which is also below the 5-day MA. If you want to give it more room, 2227 would be the worst case stop.
Additional Info:
IQ formed an inverted head & shoulders patter on the Daily chart. It recently broke the neckline and now testing it as potential support.
IQ is finding suppor at the rising 20-day MA.
Still setting up
GSX - GSX Techedu Inc.
Entry:
GSX needs some time to consolidate and let the 5-day MA flatten out. The ideal entry would be above Friday’s high and VWAP from the peak, around 9628.
Stop below 5-day MA and higher-low, around 9300.
Additional Info:
GSX has found support at the VWAP from earnings (purple circle).
WATCHLIST
AAPL - Looking for AAPL to hold ~11250 and work its way back above the 5-day MA and VWAP from the peak.
AMD - Had a good move last week. Watching to see how it holds up/consolidates for another move.
APPN - Recently broke to new all-time highs and consolidating well. Looking for a setup over the next week.
ATI - Below a declining 200-day MA, but could be able to make a move up to it.
BABA - Keeping an eye on the VWAP from the recent gap-up.
BBY - Broke recent resistance at 110. Looking for some consolidation for another move higher.
BILI - Watching the 4300 level for a possible entry, but low confidence as its below the 20 and 50-day MAs.
CHWY - Broke the 5700 level last week, but pulled back. Needs to get above and hold above the VWAP from the peak around 5780.
CRM - Watching the 25500 level for a possible move higher.
CZR - Nice consolidation above the rising 20-day MA.
DADA - Been finding support at the VWAP from the IPO and has been narrowing its range.
DDOG - Made new all-time highs recently. See how it holds onto its gains.
GRWG - Watching the 1750 level.
HEAR - Recently broke the 1800 level and is now finding support.
HUYA - Watching to see how it acts above the 5-day MA.
OTRK - Looks good above Friday’s high of 6865.
PHR - Not a huge mover, but could get going above 3143. Stop at 3026.
RXT - Watch the VWAP from the IPO.
SFIX - Found support on Friday at the VWAP from earnings. May be able to get going above 2777, stop at 2692.
SOHU - Gapped up and consolidating well at the 50-day MA.
VERX - Seeing if it can hold the IPO VWAP.
YEXT - Deep pullback, but holding the 200-day MA.
