Sabato's Market Watchlist 8/16-8/20
Updated: Aug 24, 2021
Hey! Welcome back everyone! Hope you all had a great weekend! This week, I'll again highlight some of my stock picks which I will be watching. I will give key levels of support and resistance along with an ideal entry point for both the upside and downside (psssst.. those are usually the key levels). Check out my recap from last week where members profited mucho dinero from picks our analysts alerted! Anyway, I can't wait to help you guys profit this week too! Let's get right into it!
As usual, all levels below are based on a daily (yellow price levels in images) or 30 minute chart (white price levels in images). If a level or indicator is pictured and is NOT a daily or 30 minute level, I will note otherwise. 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.
1. Advanced Mirco Devices: $AMD
$AMD was on a tear a week+ ago and has now pulled back. It's held a nice buy zone around $105.9-106.4. I am looking for a break above 111.75 for a play to the upside. Ideal entry would be a dip down to 109.5 area, but one can only hope. Like the upside. Ideal entry is break of $111.75-112 if no dip.
Daily chart:
30 minute chart:
Key levels upside: $ 111.3-111.75 zone, 112.5, 113.7
Key levels downside: $105.9-106.4 zone, $104
2. Apple: $AAPL
$AAPL has been consolidating for the past month. A lot of eyes are always on Apple for many reasons. I have been anticipating a break of $150 for a while now. Apple has tried once before after putting in the high at $150 to break it but rejected. Looks like we are going to try again! Like the upside. Ideal entry is break of $149.5-150.
Daily chart:
30 minute chart:
Key levels upside: $150, highs
Key levels downside: $147.1-148 zone
3. eBay: $EBAY:
Ebay went on a tear Friday and made new highs. Really just looking for a continuation here, but it is overbought. I'd expect a bit of a sell off and wouldn't be surprised if we come back down to $72 and lower if we do see a sell off. Like the upside, scalp sell off if precise! Entry here can be tricky, but I'd like a retrace to $73.6-73 for long entry. Downside entry would be break of $72.
Daily chart:
30 minute chart:
Key levels upside: $75, the moon
Key levels downside: $73.5, 72, 70
4. Nio: $NIO
Nio has been struggling lately, and there is not much of a sign it will recover quickly. I am favoring the downside here. It is coming into support around $40, and if we break this, we can see much more downside. I will not be surprised if we see $40-39 again. Upside entry: break of $43.2. Downside entry: break of $38.8.
Daily chart:
30 minute chart:
Key levels upside: $40.9, 41.9
Key levels downside: $40.6, 40
Bonus plays:
$MSFT: Continuation since new highs were made
$ZM: Double bottom
$TSLA: Break of $730 upside, below $700 downside
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
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