7 Stocks to Watch This Week - July 5, 2021

Here's this weeks' watch list. The stocks to watch are: WISH, BB, ADSK, AMZN, SEMR, IHRT, and TSLA. Good luck to all!

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

1. ContextLogic (WISH)

WISH can potentially form an inverse head and shoulders which would be very bullish. For technical reasons, we'd prefer it to support above or around 50 SMA (green line), but let's see. Waiting for a reversal candle. Pull back on low volume is also a bullish signal. Holding a long-term position in WISH which you can read all about in our WISH article here.

2. Blackberry Ltd. (BB)

BB has gotten a bit too quiet recently so it's worth putting on the radar in case it decides to break out of this channel on volume and make a move higher. No position for now though.

3. AutoDesk (ADSK)

Weekly chart. Still long from last weeks' watch list. ABCD pattern is very bullish here. It can go to previous highs and to $340-350 area if it breaks that.

This is supported by fundamentals too. You can read our Seeking Alpha article on ADSK article here.

4. Amazon.com (AMZN)

AMZN weekly chart. Resistance around $3555 area give or take. Its been consolidating for basically a year. Earnings on the 26th, will it have a pre-earnings run and finally break out? We're long (long-term position). Only problem is that lots of people expect it to break out and when too many people expect something it may not happen.

5. SEMrush (SEMR)

SEMR 2 different potential scenarios highlighted in the chart. Trend is overall bullish for now. Going to look for longs in low-mid 22's, with stop loss around $21.40.

6. iHeart Media (IHRT)

We've called basically this entire move up from our past watch lists. It may still have energy for another move higher and could be worth it if you get it near 20 EMA (blue line). Starting to get riskier though as the trend is bound to break eventually. If it closes under 20 EMA and doesn't bounce back quick like last time, trend could be over.

7. Tesla (TSLA)

From last weeks' watch list:

​"As long as $667 area holds, it can drift to $780 area April highs." Still just consolidating for now but we're anticipating a move higher.

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