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 👀. 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)
$MSFT - DAILY UNTIL 8/4
MSFT hasn't really done much since earnings. It been in a very nice consolidation , and it looks as that consolidation will be breaking very soon 👀. The range as been 284-290 , and if we can break that 290 early in the week ,there will be a nice breakout trade to be made 🚀. Otherwise, we can continue to trade the range.
289.67 : The upside resistance of the current consolidation , if we break here , we get our next upside wave, boom boom.
287.8 : The most recent support zone. For a majority of last week , 287.3 was the inflection point , holding under it , untl breaking nack over on 8/5. After the break back over we, buyers mainited a hold on an hourly basis over 287.8 , and this hold gave us that end of week push back into 290. If we break this area early on the week , we likely head back towards 284. 283.84 : The lower end support of our current consolidation. Look to be a continued buyer as long as this level holds. If we break under , look for a gradual move to the gap at 281 and then potentially 276.
2. BOEING ($BA)
$BA - DAILY UNTIL 8/6
Boeing put in a short term trend reversal mid, last week. We were seeing sellers since its earnings gap up, and once we flushed towards 220 last week , the trend shifted back towards the upside, and it looks like this is just the start. If we can continue to hold 231 into next week , look out for a move back towards 239.
240.36: The next ke upside level, ya we probably see some intraday selling into 235, but i wouldn't expect much. We had some consolidation in that 240-241 range last time , so would expect a retest of this zone if upside continues.
231.44: Give to take 231, is the intermediate level, If buyers can hold back over 231, they gain a stronger hold for an upside push. We held here 2 days before pushing into 225, and to end last week we consolidated around this level , for basically the whole day. If we can maintain it early in the week look for an initial move towards 235, then 239 and eventually 240.
225.85 : This s theta hourly pivot that flipped BA back to the upside. On initial down move buyers held here 2 days before flushing. Then after the flush, once we recaptured , buyers took control and held the next 2+ trading days. This 225 buy zone is the sand in the line if bulls want to maintain control.
3. DISNEY ($DIS)
$DIS - DAILY UNTIL 8/6
With earnings coming out this week , we can expect to see some continued movement from Disney. It has definitely been moving quite a bit these past week trading week , and i expect some fun action for this week as well 👀
181.8: This zone was initially support on our run up into 186, and then became resistance on the retest. under this level we do have an area of interest at 179 , but if we can break , and base over 179 we can likely setup a break over 182 to send us back to 186. Will be very interesting to see how we act post earnings , and if we breakout or flush down 👀
176.89: Around 177 , we have a key inflection level, Has been important for quite some time , even before our last runup. We got a bounce off the lower support once again , and held 177 into last week's close. If we can old early in the week and break 179 , eye a quick move back towards 181.5 171.36: Lower end support , has now continued to hold on the daily for about 2 + trading months continue to be a buyer down here and off strong move from here.
4. APPLE ($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.
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.
$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.
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.
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