Here are 12 stocks to watch out for in this week's watch list.
1. S&P 500
The S&P 500 has been respecting our support/resistance levels very nicely. Below are the levels to watch for this week. 3200-3230 is a support zone and it is currently at a trend line resistance. Above there is resistance around 3330. This seems to be just a normal pull back for the S&P 500, as there is no real panic in the market as indicated by the bond market, the fear and greed index, and a few other factors.
2. Walmart (WMT)
This was on our watch list from last week as well (check it out by clicking here). WMT seems to be bottoming out here with support around $135. Trend is up, bullish bias.
3. Docusign (DOCU)
Another one from last week's watch list. It broke out of a wedge and was a good long. Sold it around $217.50, as there is resistance near $220, but it could be good for a re-entry if it holds for a few days around this price or breaks out of $220.
4. Pacific Ethanol (PEIX)
Our favourite chart out of the entire list solely because of the very bullish volume patterns combined with a strong up trend. There is much larger volume when the stock goes up compared to when it goes down. Look for reversal signals for a trend continuation swing trade. The bounce may possibly happen at the 20 EMA.
5. CymaBay Therapeutics (CBAY)
We don't know much about this stock, it seems like a risky biotech. However, we can't help but notice the bull pennant formation and accumulation volume on this one. CBAY has that trend line support below that it is retesting so it could be a good long entry near that support. It has room until $7.00 and if it breaks that on good volume, $8.00.
6. Square, Inc. (SQ)
Square can break out nicely above $160, and then it has room until $170. On watch.
7. Apple, Inc (AAPL)
Break out level would be around $113, on watch. Could go to $119.
8. Gamestop Corp. (GME)
Nice volume patterns. Looking for a long entry on a dip early in the morning tomorrow around $9.50-9.70 price level that shows signs of support for a rip higher.
9. DraftKings (DKNG)
Volume is bullish. Currently in a range as marked in the chart. Looking for long entries.
10. WELL Health Technologies (WELL.TO)
This can break out big as it has in the past and it is on a nice trend. Resistance is around $6.65. If it breaks that, we're expecting a retest of previous highs at minimum. Long entry either on break out or on a dip within its current range. Support at $6.00
11. CloudMD Software & Services (DOC.V)
Another stock with bullish volume patterns. Big reversal last Thursday as shown by that large reversal candle on decent-sized volume. Expecting a retest of $2.40.
12. Target, Corp (TGT)
Acting nicely from last week's watch list. Now it's on the verge of a break out. On watch.
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