Trade of the Week
Weekly Calls Attractive in Large-Cap Tech Under September VWAP
Apple (AAPL) shares setting up well for a quick break above VWAP from the September highs and run out of a multi-week base ahead of earnings on 10/28. AAPL has been basing at VWAP from the May lows and momentum showing signs of early inflection with MACD crossing over...
Seasonal Stock Setup: Industrial Seeing Green Into Year End
Deere & Co (DE) - The industrial stocks have recently sold off back to lower YTD value areas and a name like Deere has potential to recover strongly into year end based on its historical seasonality. The last 5 years DE has been quite positive in Q4 with each of...
ETF Sector Relative Strength Corner: Alt Energy Group Shining
Solar (TAN) The Solar ETF has shown solid relative strength since the start of October and is up about 10% thus far. A bit extended short term so could pull back to its rising 8/21 EMA after they have seen a bullish cross up now. However, looking at the longer...
Seasonal Stock Setup: Beaten Up Materials Ready to Recover
US Steel (X) - The steel stocks have been pulling back since late August and US Steel is now back at the lower edge of YTD value near the 200 day EMA. The low 20s should provide support into year end as the stock is starting to see large bullish options activity...
ETF Sector Relative Strength Corner: Aero Defense Flying Higher
Aerospace and Defense (ITA) The ITA has shown solid relative strength the last few weeks even when the broad market was having issues. The sector is up about 3% to start the month of October and looks poised to continue higher after closing back above its 21-week EMA...
Seasonal Stock Setup: Credit Processor Into Holiday Spending Season
Mastercard (MA) - The credit card processors have seen some choppy action the last month as both MA and V try to form a base near the 200 day EMA. Mastercard specifically has some positive seasonality the last 10 years into the 4th quarter with Oct, Nov and Dec all up...
Best-in-Class Casino Operator Offers Nice Breakout Potential Ahead of Key Catalysts
MGM Resorts (MGM) setting up well in a bull flag above the 8- and 21-EMA with monthly value-high just below as well. Shares have been trending higher since July and showing strong relative strength versus other casino/gaming peers. A breakout has room to run as it...
Upstart (UPST) Flag Setting Up Well for Breakout Continuation
Upstart (UPST) showing relative strength lately and consolidating in a bull flag under recent highs after a massive run higher following earnings in August. Shares pulled back to the 21-EMA and put in a nice base recently and late last week jumped back above the 8-EMA...
Credit Spread of the Week: Oversold Vaccine Leader to Get Booster
Moderna (MRNA) - Moderna has been in a downtrend the last few weeks after it corrected a large run up this summer. The stock has fallen about 30% in less than 3 weeks and is back to the 300 level which is where it was added to the S&P 500 this summer. This zone...
Seasonal Stock Setup: Auto Group Revving Higher
General Motors (GM) - The automakers have seen nice relative strength as of late with key stocks like TSLA, GM, and F trending higher throughout September when the market overall was weaker. GM specifically looks poised for a continuation rally now as it breaks above...