(2021-09-06, 12:17 AM)isatrader Wrote: Focus: ASAN MDB DOCU CRWD PYPL
$PYPL is one of the stocks in focus this week that I talk about on the weekend video, making a Stage 2A breakout on the intraday 2 hour timeframe & consolidating around the 50 day MA on the daily timeframe.
Potential for a weekly Stage 2 breakout attempt to new highs.
Near term pivot at 290.41
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
CRWD pulled back following its earnings results, but the pullback was only minor at around -4% and stopped right at the recent breakout point, and then consolidated before tuning back up again slightly on Friday, holding the short term 10 day MA.
On the weekly chart the candle was only a minor consolidation bar, that held above the breakout level. So some signs of strength in there, and hence potential for a continuation attempt higher in the coming weeks – although it may need more time to consolidate/backup further. But is high on my focus list for the next week at least.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
$VIX volatility index spiking a bit at the open. Sign to be cautious.
$SI attempting to breakout of the four month base for a potential return to Stage 2. Volume run rate at 368% vs 50-day MA so far.
Early market strength in the small caps, energy, financials and discretionary
(2021-09-06, 08:57 PM)isatrader Wrote: Some of the larger stocks stocks in focus:
AMD, AMZN, DDOG, NVDA PYPL, SNAP, SQ TSLA
$TSLA following through in the early trade
Note if you are overweight in growth stocks then after a strong few weeks some consolidation & backing up would be quite normal. The key is to judge the character of the price and volume action on any pullback i.e. is it constructive (on lower volume with tightening price action)
$DASH attempting to shake off the earlier weakness at the open. Potential for a breakout attempt
Nasdaq 100 attempting to turn up again
$SNAP showing good RS today as it moves back through the anchored VWAP from the recent earnings gap (SOS)
$SNOW also showing good RS as it approaches the IPO week high resistance
$ABNB triggered an alert as it's attempting to break above the recent significant bar
$PYPL making a move through the near term pivot
$FUTU I'm starting to have more of bullish bias in my analysis of this, as the price action since the spring has been developing well. Need to see it commit back above the 200 day MA and 50 day MAs and hold above for while to see a change of character.
The weekly chart currently has a Stage Analysis Technical Attributes (SATA) score of 3, as its outperforming the S&P 500, but not its peer group yet (software), and is in Stage 3B-, so still some work to do, but has gone up from SATA 2 to 3 with todays move so far. But obviously depend on how it closes the week. But is close to going to a SATA rating of 4 as well, as the RS versus the peer group is approaching the zero line.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
$VIX continues to rise. So as per yesterday. Caution.
$CPRT tightening up around its key short term MAs and rebounding at the Anchored VWAP from the recent high today.
SATA score 3 of 5 as underperforming peer group & industrials is underperforming S&P 500.
Watching for a strong volume move through the near term pivot at 146.44
$GSKY a new edition to the watchlist yesterday with strong RS today in the weak tape.
The GSKY weekly SATA chart shows that it went to a max score of SATA 5 the week before the Stage 2A breakout, and early in its Stage 2 advance, currently in the backup phase.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
