Stocks to Watch This Week - June 13, 2021

Here's this weeks stock watch list. The stocks to watch are: M, IIPR, MNMD, BBCP, VMW, DMTK, AMZN, ADBE, AAPL, and more. Happy trading!

1. Macys (M)

Macys broke out last week and retested the break out trendline. Ideally, we'd like to see it hold here a few more days and build a base before going higher.

2. Innovative Industrial Prop. (IIPR)

After a multi-month consolidation and a triple bottom around the low 160's, IIPR seems to be reversing and starting a new up trend. Disclosure: We have a long term position in IIPR. 

3. MindMed (MNMD)

If you took this from last weeks' watch list, you probably made a pretty penny. We closed at $3.90, but there's still more upside most likely and we'll look for another entry. Volume patterns are still strong. $4.90 price target. 

4. Concrete Pumping Hldngs. (BBCP)

We originally called this one a few weeks ago in our watch list, and it still looks bullish. The volume is still greater on green days than red days and price keeps supporting off the 20 EMA (blue line). Looks good until the trend breaks.

5. VMWare (VMW)

VMW daily chart:

​From last weeks' list, looks good. Closest resistance is $165. Hoping it can go over that and then pull back a bit for a good entry.

VMW weekly chart:

On the weekly time frame it's an inverse head and shoulders pattern which is very bullish. Expecting VMW to make a new swing high or at least test the recent highs.

6. DermTech (DMTK)

Went long last week near $42 since the trend is reversing but has so far failed to really follow through on its break out. We have a stop loss under $37.50 and a target of $50.

7. Amazon (AMZN)

Weekly timeframe. Curling higher, probably looking to retest 3550 again. If it truly breaks out from there it can hit $4000.

8. Adobe (ADBE)

Very nice bullish breakout in ADBE here, this can hit at least $600 in our opinion. It has earnings this week though on the 17th so keep that in mind, it can throw off the trade. Going to look for red to green moves on ADBE leading up to earnings.

Read: How to Anticipate a Red to Green Move

9. Apple (AAPL)

It looks like AAPL is heading to the upper trendline which would be around $131-132 area. Going to be watching for a breakout in the next few weeks.

Other Stocks We Are Watching

In regards to stocks we haven't mentioned yet from last weeks' list, we are still long CRM and Visa (V), and are waiting for a dip on IHRT near 20 EMA to get back in. You can check last weeks' ideas here. Also, we are of course watching the meme stocks and will look for opportunities in anything that becomes hot this week.

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