Stock Watchlist 4/7: COST, AMZN, CCL, MSFT, INTC, BA, CRWD, CMG
I picked up a few trades Monday that weren't originally on the list last night (here). Although, most of those setups are still in play; my alerts don't just go away. It's good to be familiar with what's to the left on charts in case an alert eventually triggers. WMT broke out nicely. CAG, MRNA, & LVGO are primed. TDOC stuck in sideways mode. Tough to trade it until we get a new breakout/breakdown. This is why I post other ideas during the day. Follow me on Twitter if you don't already. Here's a list of others to follow as well.
COST was the primary non-watchlisted trade Monday. 100% gain off the follow-through over 300. The chart has upside room towards 325. After WMT's nice breakout over 120 that was discussed last night, I had to join the sector move. These both will probably have more upside as these stores have remained open during the quarantine.
AMZN - Watching for follow-through over 2000. If it gaps above watch dips using 2k as risk guide. I'll probably take some weeklies for a day-trade and June 2400 calls for a swing trade if it looks to close above the key psychological/horizontal resistance level.
CCL - double bottom trying to form. Risk on 8 for a swing trade towards 20. The Saudi fund took a small stake.
MSFT & INTC both breaking out above the recent range. I started into INTC calls Monday. I will add on follow-through over 60 with target into the 65-68 range.
Although the INTC chart is a bit cleaner in my opinion, the MSFT setup is basically the same. You could throw CSCO into this mix too.
BA - watching for follow through over 150. Nice bull flag breakout today. But but we're in a bear market, Blaine... Yeah okay, while you're listening to the news, I'll listen to the price action. In my personal opinion, the whole 20% down vs 20% off lows to determine bear vs bull market is not appropriate for this trading environment.
Anyway, BA has both day-trade and swing trade potential. Day-trade weeklies on the 150 break and swing trade May 15th 200 calls in case it heads back towards 3/26 high. It doesn't have to hit 200 to make money.
CRWD - watching for the 60 breakout.
CMG- I mentioned the flag breakout mid-day on Twitter. Needs follow through back over 700. Swing trade setup.
I don't tout services very often, however, this weekend a few guys that run legit education and chat room services are hosting a free webinar through their charity program to benefit Covid-19 crisis aid on a donation basis. You may want to check it out since you're probably stuck at home anyway.
https://traders4acause.org/covid19/
Happy Trading!