Trade of the Week
ETF Sector Corner: Banks and Brokers Near Breakout into Strong Calendar Month
Financial Select Sector SPDR Fund (XLF) – This ETF provides exposure to an index that includes companies from the following industries: diversified financial services; insurance; commercial banks; capital markets; real estate investment trusts; thrift & mortgage...
Bull Put Spreads in Solar Power Leader Back at Support After Sharp Correction
First Solar (FSLR) has seen a recent selloff from highs after fears of potential election implications if Republicans win and devote less love to renewable energy sources. Likely overblown fears in the short run and now retesting the key support zone near 210-215...
AI Infrastructure Player Sets up Quick Weekly Option Trade
Vertiv (VRT) shares of the high beta AI infrastructure name are curling higher the past few days off a key support bounce from the 85 level and seeing a bullish MACD cross as the weekly candle also printed a bull engulfing stick right off the 21 week EMA. VRT is on...
Bull Put Spreads in PC Leader Seeing Numerous Opening Put Sales
Dell (DELL) has seen a recent rebound from its post earnings selloff that lifted it from 130 up to 160 but has now sold off back to the 55-day MA and retraced about half that advance while continuing to see plenty of opening put sales accumulate in long term...
Chip Name Setting up Coiled Breakout for Quick Move
Texas Instruments (TXN) shares of the Semi name spent the past month coiled in the tight range creating a narrow value area for July and sets up well for a short term pop to the 200 level which is a key open interest spot and lines up with the expected move for this...
Seasonal Stock Setup: Retailer Setting up Rebound into Strong Calendar Months
Target (TGT) has pulled back nicely to the mid 140’s and lines up precisely with the anchored VWAP from 2023 lows which is at 142 and held a test of that zone last week. The stock also is showing bullish RSI divergence off the recent lows with the RSI also breaking...
ETF Sector Corner: Travel and Leisure Group Forming Bull Flag into Seasonal Strength
Invesco Leisure and Entertainment ETF (PEJ) – This ETF offers exposure to U.S. media companies, making it an option for gaining targeted exposure to a specific sub-sector of the consumer discretionary industry. As such, this fund probably won’t have much appeal to...
Bull Put Spreads in Oil & Gas Name with Embedded Floor of Support
Occidental (OXY) has seen a nice rebound off key support last week with crude oil also strong lately off lows. OXY retested its large POC near 59 on the volume profile as its massive range the past few years has been helped by a floor near the 55-zone based on Buffett...
Ecommerce Leader Setting up Weekly Option Breakout
Amazon (AMZN) shares are quietly near all time highs and closed last week strong near 189 with end week rebalancing lifting it into the close. Depending how Monday opens there is a chance to see a mild dip back to the 186-187 level which would be a solid dip buy entry...
ETF Sector Corner: Cloud Computing Setting up Move Higher into Seasonal Strength
First Trust Cloud Computing ETF (SKYY) – This is the first ETF to offer exposure to the cloud computing industry, a narrow segment of the technology sector that involves a fast-growing application. SKYY is one of the most targeted sector funds on the market, making it...