Here are few of the better looking weekly charts from this weeks watchlist stocks:
AA, BILI*, CRSP, CVAC, CVNA, FUTU*, GOGO, SONO*, VERI
*Earnings are due this week
SONO is one of the more interesting charts to me, as has had a massive double bottom pattern over the last two years and is now developing a Stage 1 base near the highs, above the IPO week low. The RS line is above a flat zero line and it has good liquidity. So has potential for a Stage 2A breakout attempt.
BILI is also very interesting as it has earnings this week, and moved over 300% from its lows, and has had a very contained -25% pullback range that has developed over the last four months above the rising 30 week MA. Relative strength remains near the highs and volume has shown good signs the last few weeks as it's held the tests of the 10 week MA.
In other areas this week, there was numerous Stage 2A breakouts this week in the airline stocks and hospitality stocks like hotels for example. However, the quality of the breakouts was very poor and many drifted lower into the end of the week. So none were of interest, as the majority remain below huge resistance and have poor relative strength. This could change with a group theme in play, but with the strong remaining resistance in most, it will need a lot of volume to come in the groups as a whole.
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.
(2020-11-15, 12:26 PM)isatrader Wrote: Here are few of the better looking weekly charts from this weeks watchlist stocks:
AA, BILI*, CRSP, CVAC, CVNA, FUTU*, GOGO, SONO*, VERI
*Earnings are due this week
SONO is one of the more interesting charts to me, as has had a massive double bottom pattern over the last two years and is now developing a Stage 1 base near the highs, above the IPO week low. The RS line is above a flat zero line and it has good liquidity. So has potential for a Stage 2A breakout attempt.
For SONO the volume in the last five months is much higher than previously.
There's notable Relative Strength in the Travel & Tourism group (7th and up +40 places in the last month, to move into the top ten) with multiple stocks moving into the Stage 2 advancing phase and strong relative volume coming into the larger names of $EXPE & $BKNG as they broke out this week
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.
$SONO follows through following earnings with a weekly Stage 2A gap breakout on massive volume today (+7000% above average so far), and RS at a new 52 week high above a rising zero line.
At the stage analysis investor method entry point. But as an earnings gap, you would need to use buyable gap entry rules or fishhook for example, as gap ups make the stock too extended for the normal Stage Analysis method stop loss positions. So requires a much tighter stop loss under the gap up low with very tight risk management.
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.
$BILI - Stage 2 continuation breakout to new highs on strong relative volume (+950% above average for the time of day) and strong RS.
Highlighted in last weekends watchlist stocks as a good example of the Trader method entry point and what to look for.
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.
