Stock Watchlist 5/11 - AAPL, JD, NVDA, PUMP, AKBA, CTXS, SBUX, CMG and moar stonks.
Another great week behind us. TECH, TEAM, DXCM, MOH, DKNG all had nice breakout trades as discussed last week here. Plenty of others discussed on Twitter as well. AAPL also starting to make its move. Let's start there.
AAPL Stock Chart update - Filled the gap from February as the buybacks continue. It's looking to continue the breakout to retest 325 highs using the 303 as risk guide in my opinion.
JD.com, INC (JD) - Online Retail has been hot: ETSY, EBAY, AMZN, W, IBUY (ETF) etc. China's JD.com earnings are Friday morning before market open. I wouldn't be surprised to see a runup towards $50 into it. Nice bull flag breakout in progress. I don't have a position yet as it hit my weekend scan, but I'll be watching dips and/or intra-day chart continuation setups like FSLY on Friday and the blog post I wrote last week about end of day runners.
NVDA - I discussed NVIDIA on Twitter last week as it was breaking out over 303. Has measured potential towards 326 once it clears all-time highs; as it looks to push higher into earnings on Thursday 5/21. I'm long calls.
PUMP - ProPetro Holdings is an oil and gas services company worth watching as oil starts to bounce as people start driving cars again. Will people be scared of public transportation for at least the near future? Several of these lower-priced oil services names may be in for a move higher. PUMP just also happens to have a chart setup that I look for on swing trades. Know the news, trade the action. If it doesn't go, I won't hold forever. I'm long as I started in on Friday.
AKBA - Akebia Therapeutics announced trial results for their kidney disease drug last week that sent the stock soaring. Since then it's consolidated just below 12.25. That is the trigger point to start into a long-side trade for the next leg up with a potential measured move towards 14-16 range. Again, know the news, trade the action. If it's not there don't force it.
CTXS - Citrix is post-earnings. The chart is setup for another leg higher with room towards 160-175 range using 140 as max pain risk guide in my opinion.
SBUX - Starbucks is opening up shop again in the U.S. Meaning lines around the block in some places. It has room to run up into the 85-90 range in the coming weeks to test the downtrend that started last year.
CMG - Chipotle's stock finally broke out of a 3-week consolidation pattern on Friday. Ideally, we'll retest all-time highs this week with a chance to run towards the $1000 psychological level in the coming weeks. I'll be using the 900 as risk guide going forward.
A few others to keep on watch if not already:
BYND - needs follow through over 135/136 resistance level.
CAN - needs follow through over 6 on increased volume for momentum to start to flow.
CWH - needs follow through over 14.60 as the demand for RV's is apparently soaring.
TSLA - who the hell knows. Drama fueled stock is only worth day-trading 5-minute early morning or late-day trends for me.
FNKO - needs to close above 5 for a potential swing trade towards 8-10 range. 25% short float.
VTIQ - A SPAC shell soon to be Nikola Motors.
NFLX - b/o potential over 442/450.
Post-earnings follow-through potential for experienced traders: ENPH FSLY FTNT ETSY Z W BILL
Happy Trading!