WEEK OF SEPTEMBER 14, 2020
Ready-to-go setups
MRVL - Marvell Technology Group Ltd.
Entry:
Look to buy MRVL above 3914, which is above the VWAP from the recent high and a relevant intraday high.
Stop at 3812, below the flat-to-rising 5-day MA (yellow line) and VWAP from the recent low.
Additional Info:
Good looking daily chart, above the 20, 50, and 200-day MAs.
On the daily chart, MRVL recently tested the 20 and 50-day MAs (dark blue & green lines) and quickly moved away from it.
MTOR - Meritor, Inc.
Entry:
Look to buy above 2404, as MTOR gets back above the VWAP (light blue line) from the recent peak, signaling the buyers are back in control.
Stop at 2292, below the recent low and flat-to-rising 5-day MA (yellow line).
Additional Info:
On the daily chart, MTOR has been consolidataing above the rising 50-day MA (green line).
ZM - Zoom Video Communications, Inc.
Entry:
Look to buy above 40782, above last week’s high and the VWAP (light blue line) from the recent peak / earnings.
Stop below 37300, below the flat-to-rising 5-day MA (yellow line).
Additional Info:
On the daily chart, ZM has been pretty explosive this year. Big volume from the recent earnings / gap up, with lighter volume on the consolidation.
Still setting up
THC - Tenet Healthcare Corporation
Entry:
Look to buy above 3054, which has been tested twice in August and September.
Stop at 2821 or somewhere below the 5-day MA (yellow line) if you want a tighter stop.
Additional Info:
On the daily chart, THC has been finding resistance and now support at the 200-day MA (grey line).
The 50-day MA (green line) and 200-day MA (grey line) are about to cross, which many longer-term investors find to be a bullish signal.
TSLA - Tesla, Inc.
Entry:
Will need to get back above the 5-day MA (yellow line)
Needs to setup some more, but look to buy in the 39900 area as TSLA gets back VWAP (light blue line) from the recent peak.
Initial stop around the 36000 level, below the 5-day MA (yellow line).
Additional Info:
On the daily chart, nice bounce from the 50-day MA (green line). Now looks to be consolidating below the 20-day MA (dark blue line).
WATCHLIST
AAPL - big pullback to the 50-day MA. Will look for further setup this week.
ABT - pulled back to the 20-day MA. Looks good, but not clear where to get involved yet. Watching the 10700 level.
ADBE - Earnings on Sept. 15th
ADT - starting to find some stability.
AMD
BABA - finding support at the 26700 level.
BIGC
CARA (short)
CFX
CRM
CRWD - watching the 13400 level, could get going.
CVNA
ESTC
ETSY
EXAS (short) - interesting consolidation on the daily chart below key MAs.
FND
IQ
MDLZ
MNST
MRVL
MTOR
NVDA - could be setting up for a move this week. Watching the 52250 level.
PETQ
PLAN
SQ - 13400 looks like good support, which is also at the 50-day MA. Looking for further development this week.
THC
TSLA
TWTR
UBER
VERX
VLO (short)
VZ
ZM
*UNDERLINE = stocks I’m watching closely
