Here's this weeks' stock watch list. The stocks to watch are: CAI, FCX, RCII, DISCA, VIPS, MX, KSS, FINV, FB, SHOP, and KL. Happy trading!
Note: If any charts are too small to see, you can click on them to see the full image.
1. Cai International (CAI)
Potential ABCD formation. Few more days forming "C" would be ideal to target new highs. Stop loss under C or B. Recent volume patterns look bullish.
Read: How to Use Volume Analysis to Trade Stocks
2. Freeport-Mcmoran (FCX)
Same idea as the CAI chart above, just a little bit earlier in the ABCD process. This would need some more time holding around this level to be truly effective.
3. Rent-A-Center (RCII)
Trending nicely off the 20 EMA. Looks like it's bouncing off it again. If it breaks Friday's high of $61.71, it would be a good long with a stop loss under Friday's low. Target would be a new swing high to around $69-70.
4. Discovery Inc. (DISCA)
Same old story from past watch lists, the gift that keeps on giving. Buy near 9 EMA until the trend eventually breaks. Although the higher it keeps going, the riskier it becomes.
5. Vipshop Holdings (VIPS)
Good setup from last weeks' watchlist where we wrote: "In this recent runup, VIPS keeps printing these types of candles highlighted in the chart before running higher. Trending above 9 EMA, once that breaks, the trade could be over."
Same idea as DISCA essentially. Ride the 9 EMA for now.
6. Magnachip Semi. (MX)
Looking for a break of $22.50 (Friday's high) for a long. Volume patterns are bullish too.
7. Kohl's Corp. (KSS)
Balloon break out from last weeks' watch list. It pulled back and retested the breakout zone so it still looks bullish. Holding 20 EMA nicely.
Here's a regular candlestick chart of KSS. Potential stop losses can be under $57.30 or under Friday's low.
8. Finvolution (FINV)
Nice runup after their earnings report and has been consolidating nicely ever since. The longer it can consolidate here, the better. Overall, looks bullish but it's a Chinese stock so there's that risk.
9. Facebook (FB)
Weekly timeframe break out. Trend is higher so look for dips/consolidation periods on daily
10. Shopify (SHOP)
SHOP looks a bit heavy here. A close under $1098 could be bearish that can see it retest recent lows around $1030.
11. Kirkland Lake Gold (KL)
Chart is still overall bearish. Using that $35.50 level as a guideline for stop loss.
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