Stock to Watch This Week (7/06)

Post Sponsored by RNNR Spotter Trend Algo

RNNR Spotter’s proprietary trend algorithm script uses a combination of indicators and data to generate accurate buy and sell alerts.

Here is our list of five stocks to add to your watchlist this week. 

Week of 7/6/21

***Tesla (TSLA)***

**Summary**: Delivery numbers came out and they beat wall street expectations. Also Tesla recently broke out of a flag pattern to the upside and is sitting in consolidation even with this news. Here are some scenarios for the week:

  • Long/Calls: A break and close above 700 with targets of:
  • > 720, 740, 760 (Also Watch for potential rejections from these levels to go short to previous target and/or re-test before a breakout)
  • Short/Puts: A break and close below  668 with targets of:
  • > 660, 630, 600 (Also Watch for potential bounces from these levels to go long to previous target and/or re-test before a breakdown)
  • Possible Consolidation between breaking level and 1st target on the Long or Short side pending which happens first.

**Indicators**:

  • MOVING AVG: Currently riding above the 72 EMA & 4 Period Variable MA but running sideways = Cautiously Bullish
  • RNNR Spotter: Last signal was Potential Downtrend. Look for a break of levels mentioned above for continuation of current trend. Also note this stock is in consolidation or a squeeze.
  • RNNR Momentum: Just recently hit Bullish territory with buying pressure/momentum in the short term. But sellers are still present = Cautiously Bullish
  • On Balance Volume w/ Bollinger Band & EMA: Broke above its 9, 21. But under its 72 EMA and pointing up. = Neutral

1D Chart: https://www.tradingview.com/x/Axq2KSXR/ 

***Amazon (AMZN)***

**Summary**: Lots of news recently + its Amazon our future lord and overseer. Here are some scenarios for the week:

  • Long/Calls: A break and close above 3521 with targets of:
  • > 3553, 3645, 3738  (Also Watch for potential rejections from these levels to go short to previous target and/or re-test before a breakout)
  • Short/Puts: A break and close below  3475 with targets of:
  • > 3437, 3408, 3353 (Also Watch for potential bounces from these levels to go long to previous target and/or re-test before a breakdown)
  • Possible Consolidation between breaking level and 1st target on the Long or Short side pending which happens first.

**Indicators**:

  • MOVING AVG: Currently riding above the 72 EMA & 4 Period Variable MA but with a recent price action breakout from its sideways action = Bullish
  • RNNR Spotter: Last signal was Potential Uptrend. Look for a break of levels mentioned above for continuation of current trend.
  • RNNR Momentum: In Bullish territory with lots of  buying pressure/momentum in the short term. = Bullish
  • On Balance Volume w/ Bollinger Band & EMA: Above its 72 EMA and pointing up. Needs to break the 9 & 21 EMA to confirm new trend = Cautiously Bullish

1D Chart: https://www.tradingview.com/x/UbqSAune/ 

***DataDog (DDOG)***

**Summary**: Some bullish catalysts as of late with a bullish uptrend in play.. Here are some scenarios for the week:

  • Long/Calls: A break and close above 107.5 with targets of:
  • > 109.5, 112, 118   (Also Watch for potential rejections from these levels to go short to previous target and/or re-test before a breakout)
  • Short/Puts: A break and close below 104.5 with targets of:
  • > 102, 97, 92 (Also Watch for potential bounces from these levels to go long to previous target and/or re-test before a breakdown)
  • Possible Consolidation between breaking level and 1st target on the Long or Short side pending which happens first.

**Indicators**:

  • MOVING AVG: Currently riding above the 72 EMA & 4 Period Variable MA but sideways action is present = Cautiously Bullish
  • RNNR Spotter: Look for signal to go long or short for confirmation. Look for a break of levels mentioned above for continuation of current trend.
  • RNNR Momentum: In Bullish territory with lots of  buying pressure/momentum in the short term. = Bullish
  • On Balance Volume w/ Bollinger Band & EMA: Above its 9,21, & 72 EMA and pointing up. = Bullish

1D Chart: https://www.tradingview.com/x/SG2rrd9O/ 

***Crocs (CROX)***

**Summary**: Purchased my first pair this weekend. Now life makes more sense. Here are some scenarios for the week:

  • Long/Calls: A break and close above 118 with targets of:
  • > 122, 130, 137   (Also Watch for potential rejections from these levels to go short to previous target and/or re-test before a breakout)
  • Short/Puts: A break and close below 116 with targets of:
  • > 114, 110, 105 (Also Watch for potential bounces from these levels to go long to previous target and/or re-test before a breakdown)
  • Possible Consolidation between breaking level and 1st target on the Long or Short side pending which happens first.

**Indicators**:

  • MOVING AVG: Currently riding above the 72 EMA & 4 Period Variable MA but at All Time Highs = Cautiously Bullish
  • RNNR Spotter: Look for a new signal to go long or short for confirmation. Look for a break of levels mentioned above for continuation of current trend.
  • RNNR Momentum: In Bullish territory with lots of  buying pressure/momentum in the short term with selling pressure. = Cautiously Bullish
  • On Balance Volume w/ Bollinger Band & EMA: Above its 9,21, & 72 EMA and pointing down. = Neutral

1D Chart: https://www.tradingview.com/x/ITlXQZto/ 

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