Here's this weeks' watch list. The stocks to watch are: VMEO, ADSK, CLNE, DMTK, SKLZ, TSLA, BABA, VACQ, FUV, MNMD, and WISH. Good luck to all!
Note: If any charts are too small to see, you can click on them to see the full image.
1. Vimeo (VMEO)
VMEO is a recent spinoff from IAC stock. Took a few weeks to form a base but now likely gonna fill the gap to $52. Volume came in on Friday too to support the move.
2. AutoDesk (ADSK)
ADSK has formed an ABCD pattern on the weekly and it is very close to breaking out. 50 MA held nicely twice. Targeting $350 or at least previous highs if it breaks out with under $265 or under $250 as stop loss.
Also, check out our recent ADSK article here: AutoDesk is an Excellent Company at a Good Price
3. Clean Energy Fuels (CLNE)
CLNE has bullish volume patterns since volume seems to be non-existent on pullbacks vs. when it goes up. This can set up for another volume push higher. Currently long with a stop loss under $10. Minimum target $12.50.
4. DermTech (DMTK)
DMTK still holding this from the watchlist a few weeks ago, volume came in nicely on Friday which is good. If it breaks trendline resistance, expecting it to go to $50+, stop loss under $40.
5. Skillz (SKLZ)
SKLZ curling higher and emerging out of a volume base. Looks to be targeting around $24-25 area. Stop loss under $18 or $17.50.
6. Tesla Inc. (TSLA)
TSLA broke out on the daily timeframe and printed an inside day candle. As long as $667 area holds, it can drift to $780 area April highs.
7. Alibaba Holdings (BABA)
Weekly chart. The negative sentiment for Chinese stocks might have already peaked which leaves lots of potential upside for stocks like BABA. Will be looking to buy a pull back on this breakout.
8. Vector Acquisition Corp. (VACQ)
Same idea as last weeks' watchlist:
"Bullish MA crossover indicates an uptrend is starting here, plus it is starting to curl higher after a small pull back. Looks good for a long position with a stop loss under $10. Since its a SPAC, $10 can act as a support area."
9. Arcimoto Inc (FUV)
ABCD setup, currently long. Stop loss under B or C. Volume patterns are strong, can hit $20+.
10. MindMed (MNMD)
This one is from past watchlists. Formed a new support at $3.39 area. Stop loss under that, target $4.25 ish.
11. ContextLogic Inc. (WISH)
It seems like everyone has their eyes on WISH. We're watching it too. Volume has mostly been stronger on green days and is building up. Closest resistance is $15 and then $15.45 so watch for that to break. We'll be selling premium on options if it gets wild and volatility spikes.
Thanks for reading! We hope the article was useful to you. If you enjoyed this article, please consider following us on twitter @StockBrosTrades and/or subscribing to our free newsletter to get articles like this sent to you when they are posted!
Get 2 FREE stocks worth up to $2300 when you sign up for Webull and deposit $100. Webull is an easy-to-use, commission-free trading platform with no monthly fees that offers stock, ETF, options, and cryptocurrency trading.
Click here to sign up and get free stocks