Another from the energy sector is Pioneer Natural. Decent volume and good range. We had a nice breakout, nice flag that busted above. We retested levels and reclaimed and kept going. I want to see this retrace back to the quarterly pivot (159.75) on a weak open and watch to see if buyers show up.
It may need to cool off after having quite the run, but I think pullbacks now are buying opportunities. If the $XLE were to pull back to the 48-49 area, I would be looking for strong energy stocks that were looking ready to get a leg higher.
Even though you will see me using trendlines in my charts, I always like to have a disclaimer that for me, trendlines are merely rough guides. I’m not delusional enough to completely ignore all the prior trendlines that could have been drawn that all would have been broken a dozen times over, only to be replaced by a new trendline when it made it convenient for...
So we finally did it! For the first time in over a year, we broke the lows of the previous month. Always keep in mind that that alone is not enough to cause concern. Remember, it isn’t the pullback itself that matters. It’s what happens afterwards. I’m fully focused on the weekly chart. The first challenge for this coming week is to see if we can break back above...
QuantumScape. I want a shot at buying this around the 24.00 to 24.70 area on a retest. If I get involved in this and it starts working I may have both a day trade AND a swing trade. That 24.50 area is both a monthly pivot as well as a retest of the breakout area.
DoorDash. May not get this on Monday but I want to get this around the 20d SMA as much as possible. If the 20d creeps up too much I’ll want to see this against last week’s lows (212.80 area). This name has been on a tear lately and I think it has more to go so I want to make sure I’ve got my eyes on DoorDash.
Earnings on Friday sent this big guy ripping back towards ATHs. 50% retrace of Friday’s candle puts us right into that quarterly pivot area. I would be interested in buying some early weakness in the name around that spot. This is the kind of chart where if the trade works and we close the day somewhere close to highs, I would be very inclined to swing a portion of it.
Palantir Technologies is another name from last week. It broke out beautifully and the chart is in tact. The pull-back was deeper than anticipated (but that came with the market imo) but it’s still strong and I want dips to buy. I’ll be looking for dips to buy.. like the 20d SMA but not sure I’ll get it. I may just start buying on dips risking against previous...
Airbnb probably wont be a Monday trade. This feels more like a Tues, Wed, maybe even Thurs trade. I want to see this find near-tern resistance right here before looking for a pull back. I want to be buying this as close to the 20d SMA as possible on a pull-back.
Last week in the Sunday Prep we pointed out that a break above 47400 that didn’t get back to the 53k area but instead rolled back over and then lost 42830 then to “look out below.” Well, that’s exactly what happened and the break of that level saw over 3k points more of downside. Bulls have some work to do here because at the moment you have all 3 major moving...
