Hello everyone and welcome to another weekly watchlist post ! We didn't have any market recaps this past week , primarily due to not much happening in the market, as we broke to new highs monday, consolidated and then closed the week again at new highs. The market is still in a strong uptrend and accordingly here are some top picks for the upcoming trading week.
(for all trades below I mention level hold, stop loss, etc, I'm using daily or hourly closes for stop losses or holds)
1. DISNEY ($DIS)
Disney has a fantastic earnings report this past week , but still sold off on 2/12. With that being said Disney is still in a very nice location where it has the potential to boom in the upcoming week.
$DIS - DAILY UNTIL 2/12
This upcoming week keeping an eye on the 186 and 182.5-183 levels can give us some good actionable trades on $DIS. After its gap up on 2/8 Disney continued higher making new highs , and after that it consolidated sideways from 2/9-2/10 before making a new high just before earnings announcement on 2/11.
$DIS - HOURLY UNTIL 2/12
In this upcoming week if we break under 186 , as long as Disney holds that 182-184 area look to be a continued buyer. The 183.8 level is from the gap up on 2/8 while the 182.26 level is from a prior key level , and its possible we do visit it before the bounce. If we get back and hold over 190 we will see new highs once again.
Key levels to watch: Holding 186 would be great but iis not watch to see how price recats in that 182-184 area, and the first upside resistance is off 190.
2. THE TRADE DESK ($TTD)
Trade desk is once again , back on the list this week , after having a full scale consolidation between the key levels of 840 and 872 last week (posted in last weeks watchlist).
$TTD - DAILY UNTIL 2/12
As seen above the range has stayed constant , and we can keep looking to buy 840 while looking for a continued break over 872. $TTD has earnings coming out 2/18 after hour, so it is possible we stay sideways until then, but i'm still expecting some upside before then. The longer we consolidate the more momentum is being built for a break either way. Either way, we are still looking for a break and hold over 872 can send us flying towards 900-923 , and if earnings go well , we can see ourselves coming into the all time highs.
Key levels to watch: 840 most important support, while 872, 901 and 923 would be the upside targets.
3. QUALCOMM ($QCOM)
Qualcomm is a peculiar one , that has started to show the first sign of a reversal after its extended post earnings drop off.
$QCOM - DAILY UNTIL 2/12
The market had a pretty negative reaction to $QCOM after earnings , but the signs of buyers stepping in are becoming present now.
$QCOM - HOURLY UNTIL 2/12
In the image above we can see how buyers continued to buy off 144 , and then we had a quick flush under (grey circle) which was immediately recaptured the next hour and held. After the recapture on 2/11 we closed the daily over the 144 level and then we held the level on 2/12 and slowly continued the upside move looking for a break back to the upside. For the next step of reversal to begin we would be looking for a break and hold back over 148.8 and then a push into 154.
Key levels to watch : 144.28 for support, and then 148.85 and 153.67 as the two bigger upside levels with an intermediary around 151.1
4. BILL COM HOLDINGS ($BILL)
BILL has been another nice mover recently past earnings and even though it has relatively lower volume , it's looking to set up nicely for a new high.
$BILL - DAILY LEVEL UNTIL 2/12
Since its earnings gap up it made a new high, had a nice two day consolidation and then made a new high. After the new high we had another two days of consolidation and its looking pretty good looking for a new high once again.
As seen above after we had a nice up move and began to hold the 185 level on the hourly looking to push higher once again. If we can clear 192 in this upcoming week and hold we can see new highs. If we reject and fall back down , $BILL can be a good buy as low into 174 and 154 (especially if there is a quick drop). So for this upcoming week i'll be keeping my eye on for 192 break and evaluate how well 185 and 174 are holding.
Key levels to watch: 192 is the most important upside for an hourly close and hold to continue and then 185 and 174 can be the immediate supports.
These are just a few stocks im keeping my eye on this week, and as always, do your own due diligence and realize that their will always be risks associated with trading !
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Hope you all have a wonderful rest of your weekend, and a great upcoming week :)
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