Hey! Welcome back everyone! October is upon us, so hit me with all the pumpkin flavored stuff for the next 30 days because that's all you get! Please share this with your friends who share your interests. You might get a free trial out of it. Who knows.
You know the deal: I present my technical analysis (TA) and provide some set ups I like for this coming week. Check out my recap from last week to sharpen your skills and see how my picks went. Check out the small account challenge another going on in the True Trade Discord too! That account was up ~200%! Anyway, let's get right into it!
As usual, all levels below are based on a daily (yellow price levels in images) or less than daily chart (white price levels in images). I approach charting by starting on a daily time frame and moving down to smaller time frames to find other intraday key levels. When the market is open and trading is live, I like to bring up a 5 minute and 1 minute chart to time entry as price is coming into my level.
Side note: In images, blue line is 20 day SMA, yellow is 50 SMA, and green is 200 SMA, where SMA = Simple Moving Average where applicable. The yellow arrows on the right are where my alerts are set to trigger.
1. Netflix: $NFLX
$NFLX put in some new highs late last week and held previous highs on a brief intraday retrace. I'm looking for more upside if we hold $609.3 especially if we break $615.6. Great volume the last couple days as well.
30 min chart:
Key levels upside: $615.6, 619, the moon
Key levels downside: $609.3, 598.8
2.Dollar General: $DG
$DG has fallen below the 200 SMA on a daily chart. I'd like to see if we consolidate here or if we move lower with the market volatility. There is not a ton of support until $208 area and then 205 after that. On the upside, we need to recapture the 200 SMA around 211.6. Bulls will like DG back above 200 SMA and bear will want to break this support to the downside shown in green around 208 and then 205.
30 minute chart:
Key levels upside: $212.9, 215.2, 219
Key levels downside: $208 buy zone, 205 buy zone, 202.7
3. International Business Machines: $IBM
$IBM had a strong close Friday 10/1. We crossed back over the 50 SMA to the upside. We are approaching strong resistance, which IBM rejected Friday. We could reject 144-145 area again, or if we break through, we could see $147.
30 min chart, confirming levels and zones:
Key levels upside: $144-145 sell zone, 147
Key levels downside: $142.5, 140.8, 139.2,
4. Mastercard: $MA
$MA held the 21 SMA nicely last week and made a run up to resistance on Friday 10/1. Resistance is both a sell zone and also the 200 SMA on a daily. If we clear those, we could see $366-370. I wouldn't like downside again until we break $345 to the downside.
30 min chart:
Key levels upside: Sell zone (red), $365.5,
Key levels downside: $357.4, 355.2, 349.1
Bonus plays: Remember to check these out for yourself (members get more info for free).
$ZM: $274 is pivot point and bottom of a sell zone. Watch for another potential rejection or break up through the zone for a move upward.
$FB: Hold $338, resistance at 348 and 352
Enjoy! Please comment below or DM me on Instagram/Discord for more help. I'm happy to help for free when others will charge hundreds of dollars for their courses, etc. Thanks for reading! Remember to stick to your rules this week! If you read this far, DM me for some extra 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 I'm 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 AM NOT A FINANCIAL ADVISOR**
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