Market Watchlist 4/12 - 4/16

Welcome to another weekly watchlist by True Trade ! Hope you all had a fantastic weekend, and are ready for the fun ahead in the next week !


Stocks off last weeks list hd some sweet upside moves , including PYPL, GOOG and MSFT with the latter two making new all time highs. Those key levels work 👀. so let's get into the fun for this week.


If you haven't already check out the market outlook post here:

https://www.truetradellc.com/post/market-outlook-4-12-4-16-will-we-pullback

and if you need tips on utilizing key levels, check them out here :

https://www.truetradellc.com/post/market-outlook-3-22-3-26 and https://www.truetradellc.com/post/market-outlook-3-15-3-17 .


(ALL TIME IS BASED ON PST)


(for all trades below I mention level hold, stop loss, etc, I'm using daily or hourly closes for stop losses or holds)


1. PELOTON ($PTON)

$PTON - DAILY UNTIL 4/9


Had repeated buyers steppin in off 101 over the last few weeks. and to close out the week, we broke back over the 118 pivot sell location (where sellers continued to step n on the down move). If we can hold 118 to start the week , upside back towards 127 looks promising, meanwhile if we break back under , a move back to 109 isn't out of the question.

KEY LEVELS:

126.89 - The sell location , on our down move panning out last month, this is where we tried to break back over but rejected multiple times before heading lower (2/23 - 3/2) - can definitely offer sellers here , and if we get a break over , we can see a pretty rapid move back towards 136. 117.91 - Looking to buy this level with stop placed under, we broke over 4/8, got the retrace to end the week on 4/9, and we can continue to look for buyers here

109 - If we break back under 117, this is where we had our base before breaking back up. Should see buyers tep in again for at least intraday trade opportunities.



2. NETFLIX ($NFLX)

$NFLX - DAILY UNTIL 4/9


Another nice one of the double bottom. bounce at 495. The last week we began to hold higher off 540 looking to re-break 557, the pivot for our down move. Iff we can't get over, look to short back towards 540, 535, if we can get the break, we can see buyers push us back towards 567.

KEY LEVELS:

567 - This is where the initial sell move started off , sellers positioned here and can definitely offer a great. r/r trade opportunity. Not likely we see a breakup over this level on the first go around , so keep you eye for shorts here, if we do break the 557.

557.28 - The key over under level , if buyers get us over early in the week , they can maintain a run back to 567 , and potentially even back to ATH'S , if sellers prevent the break over, this area can be used as a short zone to play back to the downside.

540.67 - The base area for our up move last week , can look for buyers to step in here , or close to 535 , NFLX is a bit more choppy on most days, so wait to see buyers step in if we fnd ourselves back in this area.



3. TELADOC ($TDOC)

$TDOC - DAILY UNTIL 4/9

Not much action has occurred for TDOC lately. It is still in an overall downtrend , but som consolidation seems to have started. It's been holding that 177 buy level quite prominently. Can look for a long trade if we hold , or look to short under back towards 170. Not gonna be looking for much in terms of a day trade unless I see volume coming in for a 187 break , but can be multi day play with stop under 177.

KEY LEVELS:

203 - Would be looking for a short trade here, is the pivot location for the downside, if we get a break and hold over, we can see 218 shortly after.

187.01 - The most recent sell spot just about a week ago, if we can get a break here nothing is stopping it from heading back towards 197, 203.

177 - Best case for buyers to step in , if we break here, chance of consolidation up move becomes slim. Looking to be a buyer here.


4. BROADCOM ($AVGO)

$AVGO - DAILY UNTIL 4/9


On our list a few weeks ago, but this past week we started to hold a higher and higher base, with an almost bull flag formation with the pole forming from 3/31 - 4/5 and the flag from 4/5 - 4/9. which is still looking for a 490 breakout. Thaa\t 476 support is looking very solid , and if we can hold and get the break over 490's no telling how high we go. If we continue to grind higher on the market's next week, keep your eye out on the AVGO breakout.

KEY LEVELS:

489.96 - The resistance on the upside.... has has quite a few touches now, an hourly close and hold over would be nice confirmation for the breakout. 476.27 - The bottom of the bull flag formation. Been holding now for 5 days , and this would be the buy level with a top placed under 476 on at least. an hourly close.


5. APPLE ($AAPL)

$AAPL - DAILY UNTIL 4/9


We got some very nice buy momentum coming off that crucial 119 level, and a very nice boom boom to end the. week over that 128 area. With that said we are coming back into our initial breakdown area off 134 , 137. If we see selling off the QQQ' s resistance , taking appl with weakness off 134 can offer a great trade. It's our first revisit of the breakdown area and we should seller's step in close to 134 or 137.

KEY LEVELS: 133.75 - The initial breakdown area , once we broke on 2/16, we got the down move almost immediately to 119. This level will be crucial on the upside, sellers will be looking to step in , especially on any quick spikes. starting to close daily back over this area would et us a push back to 137 if not back towards the highs (which i do not find likely atm)

131/130.5 (The grey zone) - Not to sure about this location but we had some basing under and over here on 4/8 and 4/9 , can act as an intraday key level going long on holds over while looking to take short trades on holds under. 128 - The resistance on the downside before breaking over on 4/8 and just running a nice $5 plus. We gapped over the 128 level to open on 4/8 and this was our pivot level from the first 119 bounce from 2/23 - 3/2. This level will be the key over under for short longs on the daily perspective, if sellers get us back under and hold, we can start our descend back towards 119.

125.57 - Also another area that offered resistance before breaking on 4/5 , which then turned into support. On down move , can utilize this area for a target or intraday long trade attempt (but won't be as high probability as the 128 buy area... depend on market conditions).

A few extras: (some good runners from last week that can continue if we continue float mode early in the week - giving the higher probability buy areas): - SQ , MSFT , FB, PYPL

- SQ : 262 is the key upside level for now (can look to short weakness), if we can't break and hold here, sellers will start to step in once again. if we get the pullback this week, I'd be looking to buy dips , back towards 237, with like 252 and 245 being some of my higher interest zones.

- MSFT: I'd like to buy dips back towards into 245, eyeing 247 and 252 as possible buy areas, 252 had interest on 4/8 and 4/9 with basing while 247 was the same on 4/5 - 4/7

- FB :Also closed at just around ATH's to end the week, would like pullback buys towards 294 , watching around 306.2 , and 300ish

- PYPL: sellers coming into 268 and 277 , while i would like dip buys towards 255.





( remember the numbers given in watchlist can remain valid later in time , so keep them in mind, and don't hesitate to drop us any questions. Furthermore, go back check out our prior watchlists, see if you see anything at a key level to take for the next week 😯)

https://www.truetradellc.com/blog/categories/watchlists

That's it for this week's list, if you have any questions don't hesitate to contact us or drop them below. 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 !

 

I can do this on and on for every stock , but the best way to get them live is by joining the chat ;)

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Hope you all have a wonderful rest of your weekend, and a great upcoming week :)

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