Market Watchlist 4/26 - 4/30
Hello everyone, and welcome to another weekly watchlist by True Trade !
Similar to last week , there is not market outlook post because everything was still pretty much sitting around the all time high, some sellers started to show life this past week, but not much else has changed. I will look to get one with some key levels posted later tonight.
(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, you can trade the levels on an intraday basis !)
With some big tech earnings names coming up this week , some of those names have got to be in this week's list 👀. Since there's so many tickers people will have there eyes on, I'll be doing a top 10 + a few ones I like (My main focus will still be on 1-5). So let's get started.
1. APPLE ($AAPL)
$AAPL - DAILY UNTIL 4/23
Apple , one of the many big tech earning plays coming out this following week. We have had a pretty consistent up move ever since finding that multi-week consolidation off 119. This past week we have found a pretty nice tradable range between 131.2 and 135.5 . The range should hold until their earnings come out , so let's see what fun is in store.
KEY LEVELS:
137.09: The crucial upside resistance, until 137 is broken apple will not make a move back towards its all time highs. Can look to be short off this level, getting over sends us towards mid 140, an potentially 144.
135.49: The most recent resistance of that flag base going on tha last 2 weeks . Sellers continue to step in here, any intraday break over can send us back towards the crucial 137 resistance area.
131.24: This is the most recent support for apple's consolidation over the last 2 weeks, getting back under we can see a move back towards 128. This would be my immediate over under level.
128.41: The former pivot resistance, no visit back here since the breakover, if earnings don't go well we could see a revit back here if not lower towards 125
2. FACEBOOK ($FB)
$FB - DAILY UNTIL 4/23
Facebook has been on a tear recently, making new ATH'S just a few weeks prior, with some cooling off occuring in the last week or so. With this pullback we have gradually just been holding lower, first getting support at 302, then rejecting 310, then getting support at 294, while rejecting 303. For this week to come 303 can be the key over under level intraday.
KEY LEVELS:
314.86: The highest zone with sellers present, after making the high, the next few days rejectected here before gradually getting a 420 pullback towards 294.
309.76: Upside resistance , not much action happened here, just held lower on the pullback from the highs.
302.82: This level will be the most immediate over under intraday zone. FB, former ATH was also finding resistance around 303, so getting back over is a positive, while holding under will contiue the gradual lower highs pullback.
294.53: the most immediate support, gets back under, primarily on bad er report, and we can see a move back down towards 288, 276-278.
3. SQUARE ($SQ)
$SQ - DAILY UNTIL 4/23
Square does not have earnings this week , but it's setup is one that I have really enjoyed this past week, and it's one that can give quite a few easy trades, especially between that 243 - 253/256 consolidation range. Play the range until it breaks 👀, shorting the top, buying the bottom and ten playing the breakout/down.
KEY LEVELS: 252.26 - 255.89: The 252.2 has been , for the most part the lower end of the resistance on last week's sideways consolidation for SQ . While 256, is the level that needs to be cleared to turn the short trend back to the upside. If we fail to break back over, we can former a "bear flag" looking to head lower.
242.8: This has been the buy level the last week for SQ's consolidation. As long as we hold here, the base range will continue. If we do break under a retest of 236, 227 isn't out of question. Long over , and look for short trades under.
236.5: The last "bull flag" breakup area, and the breakup that cleared 243. Some buyer's should step in here intraday, but with no test yet, bit hard to say, so wait and see how price action act's here.
227.19: The base for the last SQ breakout, and buyers should step in here 90% of the time , look to buy. here , and potentially as low as 224, but any break under that , and SQ starts to look much more appealing back to the downside towards 213, 202.
4. MICROSOFT ($MSFT)
$MSFT - DAILY UNTIL 4/23
Similarly to FB , MSFT has also been on a tear, but this one has shown no signs of pullingback. Being at all time highs . So let's look at some support zones. Unlike some other picks on the list, I will not be looking for short trades on MSFT, due to its extremely positive uptrend.
KEY LEVELS:
255.59: The most recent base support, holding for well ver a week, buyers have continued to hold MSFT higher and higher.
252.77: At the time , an ATH , gap up and continued to hold, can utilize this as an intraday buy the dip level.
247.61: The next support on the downside , the 2nd bar of that 3 bar play , buyers should step in here intraday, get back under and we probably come visit that breakup bar low 243, or 245 (former ATH)
237.42 : The former base resistance, that broke out to end last month. Where buyer will be positioned for sure , as long as we hold here, no sellers will take control, get back under then we can see some sell pressure back towards 230, 227.
5. ADVANCED MICRO DEVICES ($AMD)
$AMD - DAILY UNTIL 4/23
AMD has been interesting , pulling back while the market has continued to grind higherEarningsgs report can have a nice effect on this, and can give some nice tradopportunitieses since i has a way to go towards it's all time highs.
KEY LEVELS:
86.94-88.3: If earnings go well , its likely to see a move back towards this resistance zone , and with a normal trade environment, sellers would be looking to step in around here. If we break that 88.3 , it's not out of question to test the 94-95 sell zone, where we began our pullback from.
83.66: This has been the upside resistance zone for 3 weeks now, and with the consolidation , you can look to be short off this level until there's at least hourly closes and holds over.
78.5: The most recent base support, held for over 3 weeks now, and this consolidation range can give a plethora of trade opportunities, so until we have a hold under, buy any dips to this zone
74.23: Back under 78, the most clear support comes in off 74.2 , look to be a buyer off this range at least for intraday long trades.
6. TESLA ($TSLA)
$TSLA - DAILY UNTIL 4/23
One that is always popular, TSLA ! With earnings coming up after hours on Monday, it will be exciting to see how investors react. Lots of sellers have been sitting off 777-780, while buyer have started to step in higher recently, holding 700. WIll we break over and head back to ath's or head right back down to 600 support. Let's wait and find out.
KEY LEVELS:
777.63: This area from 777-780 remains to be crucial upside resistance, and until we can start gettin daily, hourly holds back over, sellers will remain in control along this pivot, and it can give good short trade opportunities.
743.11: The more immediate sell level , sellers have stepped in the last week or so and have held a base range between 700-743. Utilize this as the intraday short/long level as short under, long over.
701.98: The breakup area over the former 708 resistance, buyer have continued to hold 702 on dips, if we fail and get back under eye a move back towards 671 if not 642 where buyers should give at least an intraday trade.
600.55: If earnings do not go great , a visit back towards 600 is not out of question, although it would be unlikely this week, kind of depends how heavy the sell pressure is. Not likely we make a direct move back down , hard to say how much it can move off a gap, but would definitely look for some long trades intraday.
7. GOOGLE ($GOOG)
$GOOG - DAILY UNTIL 4/23
Similar to microsoft, google has been on a tear, remaining at its all time highs. Since there's not many upside targets to discuss , we can go over support buys to look for. If Google continues to head up, you can look to go long on hold higher, whether it be on a 30 minute base consolidation, especially if it keeps chugging after ER report.
KEY LEVELS:
2249.68: The most recent base support, held for over a week now, and buyers accumulating , looking to push higher. The most bullish case is continue to hold here.
2222.5: No test here yet, but can see some intraday buying on dips, kind of wait and watch to see how the zone acts, had a multiday hourly base going here, so should give at least an intraday long trade.
2128.31: The former ATH resistance level, once we got the break, we have not looked back. Buyer's should be present here 905 of the time, especially in this strong and uptrend, so watch for some intraday trades off this zone for sure.
8. BOEING ($BA)
$BA - DAILY UNTIL 4/23
Boeing also has there numbers coming out this week, before hours on 4/28. Not apart of big tech , but nonetheless, this will provide some solid trading opportunities. This one has found some solid resistance off 276, continuing to hold lowe and lower since the selloff . For now 234 has solid support , while 247 was the most recent breakdown level. If number's don't come out positive we can see ourselves gradually coming back towards 194, while if they do , a move back over 247 would provide trade opportunities towards 260.
KEY LEVELS:
259.36 - 263.23: Getting back to this zone on positive ER reaction is possible, and also where shorts will look to step in , getting daily/hourly closes back over and we will be looking to test that 52 week high once again.
247.19: The most recent breakdown area, look for sellers to step in on any move back up here, at least on an intraday basis. 233.81: The most recent support over the last few days, as long as buyers hold here, the breakup candle from 3/10 , we are still in an overall uptrend on BA, although we would need to get back over 247 to solidify it. Getting back under opens the gates for 218 and 208.
207.39: A lot of base support, this will definitely offer dip buopportunitieses in normal market conditions. A lot more confident taking long trades here than at 218.
9. AMAZON ($AMZN)
$AMZN - DAILY UNTIL 4/23
Amazon , another big tech earning for this week, it's has a pretty steady up move since that 3017 base , and it has just sitting right off resistance, in a similar fashion to apple. With a nice range going between 3300 and 3425.. Can amazon crush earnings expectation once again 👀.
KEY LEVELS:
3425.01: This is the bigger upside resistance over the last few weeks, and where sellers reman heavy. The lower level resistance this past week occured off 3374, so use that level as the intraday over/under zone. If we get a break back over on positive ER reaction , amzn could see a move back t the big round number at 3500 where sellers were pretty heavy last time around. 3299.3: The most recent support base, as long as we hold here, we should until ER report, look to be a buyer. Getting back under can get us in flush mode back towards 3220 and maybe even 3166.
3223.75: The last small base that we had, no clear reviti here yet, so play this one cautiously watching for buyers to show some life, before looking to go long.
3166.75: The last pivot where we broke and exploded for almost $260 in 7 days. Big buy zone should be here, and I will definitely be looking for buys on any move back here , on at least an intraday perspective,
10. PINTEREST ($PINS)
$PINS - DAILY UNTIL 4/23
Lastly we have Pinterest, a cheaper option for smaller accounts, and one with earnings as well , after hours on 4/27. Short term trend is down , so short side trades will be more appealing until we get back over 76.
KEY LEVELS:
85.9: The key breakdown area, there's levels in between , but 85.9 is the very clear sell zone , up towards 89. Any move back towards here can be shorted, while closing back over 86 give rise for the potential of new all time highs. 82.5 sh can be an intermediate zone between the 75.77 and 85.9, where u short under, look for longs over.
75.77: With the short term trend being down, 75.7 was the last breakdown area, and can over some nice short trades, look to stay short under, while if we get back over and hold long trades look a bit more appealing 70.29: the most recent support, the short term trend is down , so play carefully, we could dip a bit lower towards 68 for support, but we have shown some life here so far , so use it. It can also be a downside profit target for short trades.
64.26: Multi bounce support here already , look to stay long on any dips back here, but on a break under we can quickly see a move back towards 58-59.
A few Others: $TDOC - Another one with earnings coming up this week , and one where 177 has continued to hold for yet another week. If we break under eye support down towards 150. If we hold and get an up move post earnings, big resistance still comes in around 197-203.
$UPS - The most recent support is 176.5 , and with it sitting at ath's , no telling how high we can go. If we get a pullback after ER , eye 168.4-168 as a buy location.
$V - Another one sitting at ath's, no telling how high we go, but on the downside support comes in around 222-222.6. $DIS - 181.74 continues to be a buy, breaks back under , short trade can take place down into 176. While if we hold, look for longs back towards 187.5-189.9
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( remember the numbers given in watchlist can remain valid later in time but may also change a bit if the number has already been hit a few times , 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 !
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