Trade of the Week
Credit Spread of the Week: Software Name Back at Key Oversold Support
Snowflake (SNOW) - Snowflake was pulled down with growth software weaker to start the year but relatively speaking it has held up better than its peers overall. SNOW has pulled back to its 89 week EMA near 285 and started to bounce from there this week. The stock has...
Seasonal Stock Setup: Relative Strength Tech Name Holding Trend
Marvell Technology (MRVL) - Marvell has held up fairly well in the tech pullback of early January bouncing today at its lower value area for the month at 82 and closing near its 21 EMA. The stock has very strong January seasonality going back the last 10 years being...
Seasonal Stock Setup: Travel Name Forming Bottom Base Into January Strength
Southwest Airlines (LUV) - Southwest Air had been pulling back after the Omicron news in November but recently bounced off a key longer term 61.8% fib retracement level near 40 and has recovered back to above its 21 EMA as the 8/21 bull crossover triggers this week....
Seasonal Stock Setup: Industrial with Strong January History Breaking Out
Fluor (FLR) - Fluor is a diversified industrial holding company that provides engineering, construction, fabrication as well as project management services. The stock has shown strong seasonal history for January going back the last 5 years being up 4 of those 5...
Seasonal Stock Setup: Streaming Leader Back at Ideal Entry Into Strong Seasonal Period
Netflix (NFLX) - Netflix has pulled back since its mid November high at 700 to retrace into the 50% fibonacci support from its 2021 low to high range. This level around 600 lines up with the 200 EMA and top of yearly value area as a small inverted bottom pattern...
ETF Sector Relative Strength Corner: Communications Reversal Points to New Uptrend
iShares US Telecom (IYZ) - The IYZ telecom ETF is a good broad way to get exposure to lower beta but high dividend paying companies if the market turns defensive into early 2022. The IYZ recently has shown relative strength off November lows and had a great December...
Credit Spread of the Week: Online Retail Leader at Long Term Support as Options Flow Turn Bullish
Amazon (AMZN) - AMZN had a relatively flat 2021 compared to the overall market as it gained just +2.25% for the year. Most of this was after tough year over year comps from the monster 2020 year it had during the height of the pandemic. Moving into the new year, AMZN...
Seasonal Stock Setup: Software Growth Name to Rebound into New Year
Atlassian (TEAM) - The software sector has pulled back with the market the past month into key long term support near the 200 day EMA for several leaders. The IGV software ETF is starting to rebound off its 200 EMA ahead of a more seasonal bullish period it has seen...
Seasonal Stock Setup: Payment Leader Ready to Recover Into Seasonal Strength
Mastercard (MA) - The payment space has been hit harder than the market the last few months but the credit card processors like Mastercard and Visa have bounced nicely off recent lows and look to be starting new uptrends as MA has now closed back over the 200 day EMA...
Seasonal Stock Setup: Data Storage Stock Bull Flagging in Squeeze Pattern
Seagate Technology (STX) - STX has a strong seasonal window between November through March the last 10 years with these months sporting at least a 60% win rate. December has had an average return of +3.2% while January is even better at +6% on average over the last 10...