Here are the stocks to watch for this week. This weeks' stocks are TUP, GOGO, LVGO, SE, TECK, AVGO, NLS, PEIX, JKS, LAC, KURA, SEDG, SHW, GRT.UN, FLO, C, and JW.A. Most of these are meant for swing trades but they may also be day trades if the setup is there. There are 15 potential long trades and 2 short trades outlined in this post.
1. Tupperware Brands (TUP)
Always been a great stock to trade for us. Expecting this to form another base here and move higher going into earnings that are coming up on October 28. Any long position should have a stop loss under the rounded base.
2. GOGO Inc. (GOGO)
Currently in a range but it has potential. Would like to buy near low end of range. It can break out and retest the previous highs around 11.65 but that is a multi-year resistance so it may stop there.
3. Livongo Health (LVGO)
Tested $150 resistance twice but couldn't get through. Watching to see if it holds and forms another confirmed higher low for a few days for an eventual break out.
4. Sea Limited (SE)
$162 is support right now as it was previous resistance roughly. Also the 20 EMA is near there. Looking for buy entries after more confirmation of support. Stop loss would be under 161 assuming the 162 level holds for a long entry. Target would be another leg higher or previous highs.
5. Teck Resources (TECK)
This stock has potential but right now it is roughly in the middle of the channel. Would look to buy near the bottom of the range at $13, especially if the 50MA (green line) is at $13 by then. Will also be watching to see if it can break the previous swing high at $14.20.
6. Broadcom (AVGO)
Notes are in the chart (click or zoom in if chart is too small). Looking for a repeat of August for a long position. Great fundamentals as well so it's even a good longer-term hold.
7. Nautilus (NLS)
Great candidate for our momentum strategy. Look for a drop to $21-22 for another continuation move higher.
8. Pacific Ethanol (PEIX)
Another momentum strategy candidate. This continues to keep going higher every time we post it. Buy the dips near the 9 or 20 EMA.
9. Jinko Solar (JKS)
65 minute time frame. Very easy to trade as it keeps bouncing off the 20 EMA every time (blue line). Don't know how long it will last, but until it does, it's good.
10. Lithium Americas (LAC)
Strong name that has had a low volume pull back recently. On watch for a reversal signal, preferably on increased volume.
11. Kura Oncology (KURA)
Look for longs near 33, stop loss around 32, and minimum target around $35.
12. Solaredge (SEDG)
65 minute time frame. Consolidating so far after a big move. Don't know if this can keep going but will keep an eye on it to see if it can form a base above $300.
13. Sherwin-Williams (SHW)
This stock is coiling into a smaller and smaller range. Expecting it to break this range very soon and since the trend is up, it will most likely be to the up side.
14. Granite REIT (GRT.UN.TO)
Canadian REIT on the TSX. It is at a nice buying point right now at the low end of the consolidation range.
15. Flower Foods (FLO)
Forming a cup & handle right at resistance, so there could be a nice entry to anticipate a break out, especially if it confirms this new base by hanging around this level for a few days.
Potential Short Setups
16. Citigroup (C)
Originally shorted near $44, covered at $43, but now short again around $43.25. This stock is just very weak looking and can continue its down trend. This bank never really recovered from the 2008 financial meltdown as it is still down 90% from 2007 highs.
17. John Wiley (JW.A)
Another weak name. Resistance around $33-33.15. Looking for good risk/reward short entries. $30.50-31 target price.
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