Trade of the Week
Sector ETF Relative Strength Corner: Bull Put Spreads in Payment Processor
Technology (XLK) has been pulling back to the 21 day EMA and top of monthly value. So far just a normal dip within the uptrend that remains intact. The 55 EMA comes in just above 153 and is likely supportive as it rises up to the monthly VPOC. The XLK overall is...
Credit Spread of the Week: Healthcare Leader Pulls Back to Support
UnitedHealth (UNH) is up 15% YTD but recently started to pullback off its 431 highs. Friday's selloff brought it back to the rising 21 week EMA which has been supportive on pullbacks the prior year. Weekly RSI still above 50 which is showing a bull trend intact. UNH...
Trade Idea: Long Calls in Travel Leader
Hilton (HLT) a name showing up on multiple bullish technical scans this week with strength following its recent successful test of the rising 200-day moving average. HLT has been in a tight weekly consolidation since February with weekly RSI holding the 50 level...
Weekly Options Trade: Digital Advteriser Bull Flag Set-Up
Facebook (FB) setting up with a nice bull flag on the 4 hour chart with plenty of room to run in the larger rising channel pattern, consolidating just above the late July high and looking for a continuation run for an eventual push to $400.
Sector ETF Relative Strength Corner: Bullish Wedge Set-Up for Industrials
ETF Sector Relative Strength Corner Industrials (XLI) has been in a narrow range on the weekly chart as it consolidates early year gains. The sector overall is pulling back to its rising 21 week EMA which offers an area to trade against that has held on numerous tests...
Sector ETF Relative Strength Corner: Inside Day Continuation Set-Up in Biotech
ETF Sector Relative Strength Corner Biotech (IBB) has continued to trend higher with strength as a sector after a recent TTM squeeze setup broke to highs. The highest weighted stock in the ETF is MRNA which happens to be clearing its monthly value area this week and...
Sector ETF Relative Strength Corner: A Trade Set-Up in the Communications Group
Communications (XLC) has shown relative strength as a sector to start September after a recent TTM squeeze consolidation resulted in a breakout to highs. Some of the leaders like FB, GOOGL, and NFLX have run to new highs already but you can often drill down into a...
Credit Spread Idea in Athletic Footwear Leader
Nike (NKE) has been pulling back to support near the 55-day MA after a strong run this summer following a big earnings gap higher in June. On Friday, shares retested the top edge of value area for the prior month and VPOC support near 160. Nike appears to be a fairly...
Growing Convenience Company Becoming More than Just a COVID Play
DoorDash (DASH) setting up well on the daily timeframe with shares flagging in a narrow range above VWAP from the recent lows and looking for a move above $195.50 and through a high-volume shelf. DASH has been strong off the May lows and poised for a continuation...
Best-in-Class Homebuilder Set for a Return Higher
DR Horton (DHI) setting up well for a continuation higher with shares basing above monthly value. A breakout above $98.50 has room to $103.50 and the recent highs and then a weekly breakout that has a lot of upside potential. DHI is forming a small cup and handle...