Here's this weeks' watch list. The stocks to watch are: IHRT, TSLA, DISCA, PW, TROW, FFIV, CSCO, PYPL, BKI, and SPLK. Happy trading!
1. IHeart Media (IHRT)
Been watching this the past few weeks. If it continues its current trend, then the next move should be slightly down, followed by another move higher. Check the arrows drawn on chart.
2. Tesla (TSLA)
TSLA has earnings after close on Monday, but it's still one to watch because it has a bullish chart going into earnings. Seems like the stock has room to run if earnings are good.
3. Discovery Inc (DISCA)
DISCA has earnings on April 28 but is also worth watching. There is a defined risk level around $34.60 and resistance near $45. Live short interest according to Ortex is about 13.5% so there's squeeze potential. On the way up, DISCA was using the 9 EMA as support and now it flipped to resistance on the downside. If it breaks through the 9 EMA, that will be bullish.
4. Power REIT (PW)
PW usually dips somewhere near the 50 SMA (green line) before bouncing higher. Expecting that to happen again most likely. Swing low level was around $40.50 so that can be a stop loss area.
5. T. Rowe Price Group (TROW)
Same idea as last week. Quote from last weeks' watch list:
"The play is simple here. It usually bounces off the 20 EMA (blue line) and then makes another swing high. Follow the trend until it breaks. Stop under $173.7 swing low."
*Earnings on Thursday before market open*
6. F5 Networks (FFIV)
Support at $204.50 area. Pretty decent bullish setup going into earnings (Tuesday after market close). As long as support doesn't break, looks good. Going to wait for earnings though.
7. Cisco Systems (CSCO)
Holding support above $51 and at 20 EMA. Expecting a retest of highs around $53 or another move higher to $55 as long as $50.80 area isn't breached.
8. Paypal (PYPL)
Bearish target from last weeks' watchlist was hit, and now it's starting to turn bullish. Closest resistance near $277 which would be the target. Stop loss could be under $259 (swing low) or $252.50 area.
9. Black Knight Inc (BKI)
Overall downtrend. Looking for another move down to $70 area unless it breaks out to the upside above the trendline.
10. Splunk (SPLK)
Support has been holding above $130.50, if that breaks it can get near $125.
Thanks for reading! We hope the article was useful to you. If you enjoyed this article, please consider following us on twitter @StockBrosTrades and/or subscribing to our free newsletter to get articles like this sent to you when they are posted!