Here's this weeks' watch list. The stocks to watch are: TSLA, RY, TD, NA, DE, XOM, CP, CSCO, AVGO, FUBO, IHRT, IIPR, and BMBL.
1. Tesla (TSLA)
Tesla downtrend is potentially getting exhausted. So far, it's holding a trendline support and is above the 20 EMA. First horizontal resistance at around $707.
2. Royal Bank of Canada (RY)
Been bullish on financial stocks in the last few watch lists. The trend is still up. RY is holding above $92 area, so under that would be a good stop loss level. Targeting $97-100.
3. Toronto-Dominion Bank (TD)
Still long TD, looks to be breaking out of this short-term trend line. Under $64 area it would start to break down.
4. National Bank of Canada (NA)
Love this setup. Holding the 20 EMA after a nice pull back and is now curling higher. Use the swing low as a stop loss and look for a retest of highs or new highs. Volume patterns are bullish too, more volume on green days than red days.
Read: How to Use Volume Analysis For Stock Trading
Other notable Canadian banks that are bullish are BNS and CM.
5. Deere & Co. (DE)
Strong uptrend in Deere is still holding up. The only time to get concerned here is if it starts going up way too fast or breaks the recent swing low above $350.
6. Exxon Mobil (XOM)
XOM has pulled back recently and volatility has contracted. It can make a move sooner or later. The upside would be easier to play though. Levels marked on chart.
7. Canadian Pacific Rail (CP)
CP printing some hammer candles after a pullback. It did the same thing about 2 weeks ago before having a nice runup. 1 or 2 more hammer candles at this price would be great confirmation.
8. Cisco Systems (CSCO)
65-minute time frame. Basing really nicely here. Overall, looks bullish. Support around $51.50 and $50.80.
Read: Why to Use 65-minute charts Instead of Hourly
9. Broadcom (AVGO)
Inverse head and shoulders/cup and handle type of set up. AVGO currently near resistance but looking for a break out or to get long if it bases here a bit longer.
10. FuboTV (FUBO)
Big volume came in last week on Friday and it tried to squeeze. Keeping this one on watch because it has a high % short float.
11. IheartMedia (IHRT)
Nice ABCD pattern forming here and volume patterns confirm that it's very bullish. Either buy the base at C or wait for a break out. Stop loss under C or B.
12. Innovative Industrial Properties
Love the fundamentals of this stock (we own it) but it's currently still in a head and shoulders formation with resistance just under $200 area. Look for short positions against the resistance area.
13. Bumble Inc (BMBL)
BMBL breaking down out of a short-term trend line. First target for a move down: $57.50 area
Thanks for reading!
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