11 Stocks to Watch This Week - April 18, 2021

Here's this weeks' stock watch list. The stocks to watch are: F, M, RTX, KLIC, TROW, BNS, IHRT, CAT, AVGO, BMBL, and PYPL. Happy trading!

Note: If any charts are too small to see, you can click on them to see the full image.

1. Ford Motor (F)

There are a few trendlines here but they're worth paying attention to. Looking for Ford to potentially curl higher and break out of that resistance trendline.

2. Macy's Inc (M)

Bear flag in Macy's currently but the overall trend of the stock is still higher (for now) so we're not ruling out a potential upside break. Interested in playing either direction.

3. Raytheon Technologies (RTX)

RTX creating a nice base here as indicated in the chart. Can start to make a move higher soon but first needs to take out $79 horizontal resistance.

4. Kulicke & Soffa Industries (KLIC)

Nice looking bullish chart that's been settling after a breakout. Volume patterns are generally bullish. Curling higher currently might go for another move. Not interested under $51.30 for now.

5. T. Rowe Price (TROW)

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.

6. Bank of Nova Scotia (BNS)

Same ABCD pattern from last week's watch list, still setting up nicely. Horizontal resistance around $62.75 area. Stop losses under $61.40 or $61. We're also still long $TD and $NA.TO from last week.

7. IHeart Media (IHRT)

Also an ABCD from last week. This played out nicely and broke out, but there can still be more upside if it just consolidates for a few more days and creates a new base before ripping again. Volume still very bullish.

Read: How to Use Volume Analysis in Stock Trading

8. Caterpillar (CAT)

CAT trending nicely and consistently. Would want another base to form around 20 EMA to go long.

9. Broadcom (AVGO)

Starting to look good here and the range is getting tighter. Breakout over $490.

10. Bumble Inc (BMBL)

Short idea from last week. Could've made money if you timed it well enough. Chart is still overall bearish, letting the 20 EMA catch up to price and then shorting wouldn't be too bad. Stop loss would be above $62.50-62.80.

Note: When we short stocks as the overall market is trending higher, we do it as a HEDGE. We are not net short in our positions.

11. Paypal (PYPL)

Resistance around $277.50 and a bearish engulfing candle to go along with it. Downside targets are $260 and $255. Overall trend is still higher so being cautious on this one.

Read: How to Successfully Trade Engulfing Candles

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