Hello everyone and welcome to another weekly watchlist by True Trade. Last week was definitely an exciting week with some increased volatility and with that some very, very nice trading opportunities. Along with that we started doing daily recap agans last week (yes i didn't do them everyday , but will stay on top of it for the following weeks).
Earnings season continues this following week , and with big tech reporting , it's bound to be fun, keep an eye out for some of your favorite companies this week , and i will have an additional earnings watchlist , out tomorrow 👀.
Now let's get into it for some stocks I am keeping an eye on for this following week.
(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 !)
1. ZOOM ($ZM)
$ZM - DALY UNTIL 7/23
Zoom had a pretty nice pullback from its last pivot high , and over the course of the last week , it looks like a reversal an be in store back to the upside. We have started to make higher lows on a daily closing basis , and have maianted a hold at the 355 level pretty well. If we can break to the upside over 365 , a move back into 377 is very likely.
364.88 : Upsider resistance , on an hourly has been coming in at that 364-5 range , if buyers can break here , the reversal back to the upside is then confirmed. Back over ths , we can see 375 pretty quickly, so defiantly keep an eye out here for the breakout.
355 : Key daily area , as buyers were in control here back mid June on the last up move. We havestartedd to hold it again on a daily basis , so good sign if we can continue to hold.
346.5 : Big buy zone , had 4 touches last week on the daily , and all 4 were bought up. The hold after the push down was the first sign for reversal potential, next we just had to break back over the last hourly push down location. Break under here and next stop is 330 - 332
2. BOEING ($BA)
$BA - DAILY UNTIL 7/23
Boeing has been a stronger downtrend over the last few months. Off that 205 bounce , it looks like a potential upside reversal is in store, especially if that 218-220 zone holds. With earnings coming out on 7/28 , keep an eye out for some nice potential moves.
226 ish : On the upside, the most recent sell zone on an hourly basis occurs off 226-7, look for sellers hereinitally , but it's more of an upside profit target if 219 holds. If we get over that 226 , next spot would likely be back towards 233.
219-220 : The range isn't as tight yet , but buyers are present within the range , I would continue looking to be a buyer until there consecutive hourly closes back under 219 ( also the gap up location from 7/21). Very big buy location before the drop also in early may , so definitely keep an eye out if we hold this range , and look to be a long buyer (of course keep in mind earnings coming up).
3. AIRBnB ($ABNB)
$ABNB - DAILY UNTIL 7/23
Another nice potential reversal trade , big buyers coming up up off 130-132 , now we need to see if 138 can hold , while looking for a 141 break for upside confirmation. Looks like a potential bull flag formation coming in , keeping a close eye on this one for sure.
140.5-141: SIne the bounce , give or take a few cents, 140.4 has been pretty solid resistance (very visible on an hourly chart). If the upside reversal is to take place , getting back over this is going to be important, but once we do get over , a move back into 143, 148 is very likely.
137.4 : After the 130 bounce , buyers have stepped in at 137 for 3 consecutive days . If they are really interested in reversing back to the upside on strength, they will continue to hold here , and break under can initiate a move back towards 134.
4. COINBASE ($COIN)
$COIN - DAILY UNTIL 7/23
Coin isn't as strong as the relative market , but from that all time low bounce at 208 and continued hold at 213, buyers do seem to be interested in picking up this stock again.
231.4: If buyers step in , they will want to start holding above 231 on a daily basis to get momentum going back to the upside . Hold adds more confirmation back to the upside, and sets up move ready for 242.
222.47: This is where i would look for that higher hold off the bounce we just had , if buyers want to reverse back o the upside, step 1 would be getting a higher hold , and it looks like we are so far with buyer stepping in over 222. Back under here , and we head down towards 213 once again
212.93: As long as buyers hold here , can look to continue eyeing long opportunities
5. TESLA ($TSLA)
$TSLA - DAILY UNTIL 7/30
Tesla hasn't had as significant a bounce , unlike some other tech stock last week , after that early week sell. 664- 666 has remained solid upside resistance, while 637-640 range has seen buyers continue to step in. Earnings are coming up after hours on 7/26 , so this can definitely turn into a fun one for the week.
664.27 : 665 give or take , has been some solid upside resistance , it was the last break that lead to 623, and it wa also our last rejection zone on the bounce
637-638 : On an intraday basis, buyers have stepped in off 637 on the last 2-3 visits, and if we are looking for that higher hold pattern for a break back to the upside. Getting under , and basing under this zone would constitute a push back towards 623 , and a potential break to the downside this 3rd time around.
623: last breakout zone , and current support, with double bounce hold. Any break back under here, especially on a daily basis , can turn TSLA into a falling knife, real quick. On the downside the next support would come around 594-596 and then 575. Key an eye out for the lower zones
Since it is big tech earnings this week , I will look to have an extra watchlist out tomorrow for some nice tech key levels :) Ths list comprised of a few other picks I had my eye's on that weren't part of he big tech stocks for the week 😯.
If you don't know how to utilize the key levels presented this post below: https://www.truetradellc.com/post/market-outlook-3-15-3-17
^^^here is a snippet of how the levels can be used ^^^
Check out past watchlist @ https://www.truetradellc.com/blog/categories/watchlists to see if any plays are still live or if the levels truly work 👀
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 !
** THIS IS NOT FINANCIAL ADVICE**
I can do this on and on for every stock , but the best way to get them live is by joining the chat ;) https://www.truetradellc.com/stock-signals-membership
What are you looking to trade 👀