Market Watchlist 6/14 - 6/18
Hello everyone , and welcome to another weekly watchlist post by True trade !
Last week was a nice one , as we saw some continued short squeezes , along with continued breakout runners on $SNOW and $DOCU.
Market's in general have remained the same over the last month, just a slow chop back to the upside, nearing new highs, looking to break them. As a result haven't had many info on "market outlook" because there is no volatility. And until that volatility comes back, not much downide will be expected in the market , just the same , goo old, slow grind to new highs.
This next week has some exciting etups, a few that have broken out, while a fe are consolidating, looking for a breakout, so look carefully, and see what plays give you the best trade setup for your trading style !
1. DISNEY ($DIS)
$DIS - DAILY UNTIL 6/11
Disney looking solid , with a very clean looking bull flag setup. After the initial breakdown from 181 , we made a move into 166 , which offered a quick bounce back towards 181, a pullback, and now a sideways consolidation. 175.5 is a crucial hold , while looking for an intermediate 178 break will send us back to the 181 breakdown area.
KEY LEVELS:
181.29- The initial breakdown area , we have some sellers stepping in a bit lower around 179.8 , but this is the area we need a recapture to get the upside bull flag breakout. Back over here 184 and 187 would come into question.
177.97 - This is the intermediate level for that bull flag. Sellers area sitting here on the first go around , but not likely to step in the 2nd time around. Look for the break over here to get a nice runner back into 178.9 - 181. 175.6 - Key daily hold level , and buy zone . As long as we hold herre , the bull flag setup is valid , but getting under opens the gate for 174 and potentially 171.5.
2. CROWDSTRIKE ($CRWD)
$CRWD - DAILY UNTIL 6/11
This breakout on CRWD caught me off guard, didn't get a chance to see it until after it's 6/10 explosion. With the upside breakout look to continue being long over 225. Upside can continue on this one , but some heavy resistance zones will be coming in soon. Lets see if we grind up and make new highs, or start to see sellers step in and fall short.
KEY LEVELS:
231.2- Hourly resistance came into place off 231, kind of our resistance on 6/11 as well. We had a slow grind up with a high base, still looking to push higher back to 235. Can try shorts here with a tight stop over 231.5.
225.48 - The resistance we just broke out of on 6/10. SHould be the best buy area (kind of already revisited this on 6/11 post breakout) , so keep a close eye to see if buyers step in again on a pullback. Wouldn't look to be short again until break and hold under 223.
3. ADOBE ($ADBE)
$ADBE - DAILY UNTIL 6/11
Adobe had one hell of a breakout last week making new all time highs. On top of that earnings are being released this week, which is can give it some continued movement. Breaking into new all time high's is definitely a bullish case, and the best areas to buy would be a pullback to that 528 or 536 , both being hourly base zones. Breakout trend stays valid over 526
KEY LEVELS:
535.5 - 536.5 - The hourly support from 6/11, would look for potential buy opportunities here , as this was the only consolidation we have had since the breakout.
526.04 - The former resistance before breakout on 6/10. Look to be long on pullbacks here, as we haven't re-tested it since the breakout.
507.8 - Doubt we get back into this level next week , unless there is a poor reaction after earnings. This would be a be a great buy zone on a hold.
4. AirBnB ($ABNB)
$ABNB - DAILY UNTIL 6/11
Abnb had a nice consolidation all last week. We played it a few weeks ago on its last breakup, and now with the consolidation occuring , looks like we can setup for the next leg higher. We revisited the initial breakup area on 6/10, held that 141 , and then maintained a hold at the 143 daily level. Still looking for that 151 break for the next leg up, and with how its setting up, there is a good chance we get that break this upcoming week.
KEY LEVELS:
155 - 156 - If we get the upside break , this is the next . Had some hourly consolidation here on last down move , possible to see some sideways consolidation here when heading back to the upsie. Past this we are likely to run a test at 162.
151.21 - Upside resistance , the consolidation resistance and the area that , if broken can get us going for our next leg/squeeze to the upside. Break here and 155-6 and 162 are very possible. Can neither enter on breakout or look to buy the base level mentioned below. If sellers stay strong up here , can still take an in trays short trade with a tight stop.
143.17- The daily consolidation level , buyers have been stepping in from 141-3 for over a week now , and that is likely building momentum for a upside break
5. APPLE ($AAPL)
$AAPL - DAILY UNTIL 6/11
Been a while since apple has found itself on the list. But the setup seems prime for a breakout to the upside. We have had a range between 128 and 123 for just over a month. This last week after coming off the 123 buy area again , we started to form a higher consolidation off 126. If 126 continues to hold , a potential bull flag breakout is in store to break 128 and head towards 129, if not 131.
KEY LEVELS:
128.3 ish - 128 - The current upside resistance , if we can get a daily break over the 128.3 area and start to get hourly holds , a move into 131 would be likely over the next few days. This has been our month long resistance , but as mentioned, the recent setup is looking for a upside break and continuation.
126.17 - The tighter upside base , the base of the potential bull flag that can rip us over the month long channel. This will remain my daily short long level , looking for holds over to stay long and anticipate 128 , and a breakout for higher.
124.07 - If we break under 126, we can see a move back to the 6/4 break up candle, clearing 125 , which was resistance at that time . If 126 fails the channel will remain , and we can look for longs again anywhere from 123-124 , of course waiting to see a sign of buyers stepping in.
A few Extras: $NVDA - Breakout to the upside has continued , Base support around 688-689 , with a breakout on 6/11 over 703 sending us to new all time highs. Look for buys into breakout at 703 or support at 688.
$DOCU - Upside breakout continued after basing last week over 234. Looks like more is in store for a move into 259, 262. Look to buy hourly consolidations or pullbacks into 243 , the breakout area , or at least an intraday bounce play off 234. For now hourly support seems to be around 248-9.
As always list from past weeks still have valid levels, so go check them out at 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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