Trade of the Week
Trade Idea in Leading Social Media Company Consolidating After Blowout Earnings
Snap (SNAP) shares filling the earnings gap last week and basing nicely above the $70 level with the 8- and 21-EMA coiled just above at $73. A breakout higher above $73.50 has room back to $77.50 and the post-earnings resistance and broader breakout targets $90. SNAP...
Trade Idea in Best-in-Class Telecom Operator
T-Mobile (TMUS) shares pulling back to the 55-EMA recently and forming a nice multi-week base with room above $145.50 back to new highs. TMUS is starting to work out of a bullish wedge with MACD crossing over bullish on Friday and RSI is back above 50, plenty of room...
Trade Idea in Apple (AAPL)
Apple (AAPL) shares consolidating in a multi-week bull wedge under recent highs and setting up well for a breakout and run through $150. Shares held the 21-EMA on the recent earnings gap down and forming a series of higher lows since early July. A breakout targets...
Bullish Setup in Top Platform for Luxury Fashion
FarFetch (FTCH) shares setting up well for a continuation breakout higher with a bullish 8/21 EMA cross late last week and MACD crossing over bullish too. Shares cleared a small wedge late last week after pulling back to VWAP from the May lows and above $52.20 has a...
Alcoa (AA) Trade Idea
Alcoa (AA) setting up well in a falling channel from the May highs and poised to break out above $38 and a big volume shelf. A breakout has room up to $41 and the prior highs and then a measured move to $52-$53. AA has a lot of bullish open interest including buyers...
Trade Idea in Zoom Video (ZM)
Zoom Video (ZM) shares pulling back just above the rising 50-MA, the top of March value, and recent four-month base breakout setting up a nice risk/reward for a run back near the highs for the year. ZM made a huge run in 2020 up to $550 and pulled back to the 50%...
Autodesk Weekly Set Up for Explosive Move to New Highs
Autodesk (ADSK) shares flagging under a big volume shelf at $301.50 and above the rising 21-day MA with a breakout triggering a big weekly breakout that targets new highs. The broader multi-week base has a measured move to $345 and near triggering a weekly squeeze...
Sonos (SONO) Shares Setting Up for Return to 52-Week Highs
Sonos (SONO) shares setting up well in a small flag above its 8- and 21-EMA with a wedge breakout above $36 positioning for a run back at recent highs. SONO looks ready to run with RSI back above 55 and MACD near a bull cross while TTM squeeze poised to breakout on...
Salesforce (CRM) Trade Idea
Salesforce.com (CRM) shares consolidating in a multi-week range under $245 with the rising 21-EMA below Friday’s lows setting up a nice risk/reward for a move higher. CRM has seen narrowing closes over the last three weeks and a move above $246.50 has room up to $255...
Chewy (CHWY) Trade Idea
Chewy (CHWY) shares consolidating above the rising 8- and 21-EMA and just below a big volume node from March and April at $83. A move outside of June value and through $80 has room up to that key VPOC and then a big gap from $86.50 to $97.50. CHWY has seen some size...