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Market Watchlist 8/9 - 8/13

Hello everyone , and welcome to another weekly watchlist by Ture Trade!

Last week was quite exciting with the market , once again, hitting new all time highs. On top of that there were so many nice range breakout trades to be made ๐Ÿ‘€. As the time of me writing this post , the futures are down with tech leading , but can't make much of it atm, down less than .5%. Would like to see the open price to get a more formulated overall market trade plan.


Big picture still bullish, so we continue to play the uptrend, so without further adieu, let's get to this week's list !


(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. MICROSOFT ($MSFT)

$MSFT - DAILY UNTIL 8/4


MSFT hasn't really done much since earnings. It been in a very nice consolidation , and it looks as that consolidation will be breaking very soon ๐Ÿ‘€. The range as been 284-290 , and if we can break that 290 early in the week ,there will be a nice breakout trade to be made ๐Ÿš€. Otherwise, we can continue to trade the range.

KEY LEVELS:

289.67 : The upside resistance of the current consolidation , if we break here , we get our next upside wave, boom boom.

287.8 : The most recent support zone. For a majority of last week , 287.3 was the inflection point , holding under it , untl breaking nack over on 8/5. After the break back over we, buyers mainited a hold on an hourly basis over 287.8 , and this hold gave us that end of week push back into 290. If we break this area early on the week , we likely head back towards 284. 283.84 : The lower end support of our current consolidation. Look to be a continued buyer as long as this level holds. If we break under , look for a gradual move to the gap at 281 and then potentially 276.


2. BOEING ($BA)

$BA - DAILY UNTIL 8/6


Boeing put in a short term trend reversal mid, last week. We were seeing sellers since its earnings gap up, and once we flushed towards 220 last week , the trend shifted back towards the upside, and it looks like this is just the start. If we can continue to hold 231 into next week , look out for a move back towards 239.

KEY LEVELS:

240.36: The next ke upside level, ya we probably see some intraday selling into 235, but i wouldn't expect much. We had some consolidation in that 240-241 range last time , so would expect a retest of this zone if upside continues.

231.44: Give to take 231, is the intermediate level, If buyers can hold back over 231, they gain a stronger hold for an upside push. We held here 2 days before pushing into 225, and to end last week we consolidated around this level , for basically the whole day. If we can maintain it early in the week look for an initial move towards 235, then 239 and eventually 240.

225.85 : This s theta hourly pivot that flipped BA back to the upside. On initial down move buyers held here 2 days before flushing. Then after the flush, once we recaptured , buyers took control and held the next 2+ trading days. This 225 buy zone is the sand in the line if bulls want to maintain control.


3. DISNEY ($DIS)

$DIS - DAILY UNTIL 8/6


With earnings coming out this week , we can expect to see some continued movement from Disney. It has definitely been moving quite a bit these past week trading week , and i expect some fun action for this week as well ๐Ÿ‘€

KEY LEVELS:

181.8: This zone was initially support on our run up into 186, and then became resistance on the retest. under this level we do have an area of interest at 179 , but if we can break , and base over 179 we can likely setup a break over 182 to send us back to 186. Will be very interesting to see how we act post earnings , and if we breakout or flush down ๐Ÿ‘€

176.89: Around 177 , we have a key inflection level, Has been important for quite some time , even before our last runup. We got a bounce off the lower support once again , and held 177 into last week's close. If we can old early in the week and break 179 , eye a quick move back towards 181.5 171.36: Lower end support , has now continued to hold on the daily for about 2 + trading months continue to be a buyer down here and off strong move from here.


4. APPLE ($AAPL)

$AAPL - DAILY UNTIL 8/6

Apple looks to be forming a nice wedge on the daily , with consecutive higher holds on the bounces , it looks like its getting set for an upside breakout as well. But the time frame for the break is undetermined, could take a week , could take 3 weeks. The condoliation range is 149 to 141.5 , but we would ideally like to see higher hold to set up for an upside move.

KEY LEVELS:

149.24 : Upside resistance on the current range , also near that ath. Breaking here, of course leads to the upside breakout. Look to see if we can consolidated under the level for a bit to build some momentum if we want an upside breakout. Consolidating over 148 can do the trick

145.52: Seems to be the higher hold we are looking for if we want that wedge pattern to play out. Has held higher here for 4 trading day, continued hold adds to the bullish thesis.

141.58 : The lower range apple's current consolidation, interested in being a continued buyer until this breaks.


5.SNOW ($SNOW)

$SNOW - DAILY UNTIL 8/6


Snow looks like it is on the brink of another upside breakout. Similar to the last breakout over 240, SNOW continued for a day , and then cooled off before trying to run again. A similar pattern seems to be happening again , as we broke 270 early in the week , we started to fizzle out and just hold 269 , looking to set up for the next run. If we can clear 278, we likely take off towards 288 again.

KEY LEVELS:

288.46: On the last breakup, snow came pretty close to that 288 target , id assume we fly thru it on the next attempt, especially if it comes after some higher consolidating. Look at this as an upside target , and if we break a move can be triggered toward 300.

278: An intermediary, we saw some selling here in the latter part of the week , a hold over here would trigger the initial move towards 288 , while a hold under probably pushes us back to 268, and under that a potential fall towards 262.

268: Give or take a dollar, buyer have stepped in since the early week breakup, continuing to buy 268/269. It looks like snow wants it next move back to the upside.



A FEW EXTRAS:

$ROKU - 390 remains the key for ROKU, we held post earnings on the gap down , and just closed last week over the level. If we hold early next week , eye longs back towards 410, meanwhile if we fail , look for a potential move back towards 380 , 365.

$FB - 365 is key to break if we want continued upside off this bonce, if we fail there support comes back on the downside into 356.


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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 ๐Ÿ‘€

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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



Email: truetrade1313@gmail.com

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