Stocks to Watch This Week (7/12)

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

Week of 7/12/21

***S&P 500 (SPY)***

**Summary**: Just keeps going up every time J. Powell breathes and sits at ATH’s. Also We are kicking off earnings season this week, so I expect some short term volatility, mixed with choppiness this week. Here are some scenarios for the week:

  • Long/Calls: A break and close above 435.85 with targets of:
  • > 437.4, 440.1, 443 (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 434.6 with targets of:
  • > 432.5, 430.4, 428.75, 427 (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 = Cautiously Bullish
  • RNNR Spotter: Last signal was Potential Downtrend but quickly reversed the following day. Look for a break of levels mentioned above for continuation of current trend and/or a confirmed buy or sell signal
  • RNNR Momentum: Still in Bullish territory with buying pressure/momentum in the short term. But sellers are still present and lurking = Cautiously Bullish
  • On Balance Volume w/ Bollinger Band & EMA: Sitting above its 9, 21, and 72 EMA and pointing up. = Cautiously Bullish

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

***Coinbase (COIN)***

**Summary**: Looks to have a nice base of support since its IPO debut selloff. Also Bitcoin’s chart looks ready to make a move, since it has been heavily consolidating between 28K & 37K. So here are some scenarios for the week:

  • Long/Calls: A break and close above 257 with targets of:
  • > 273, 292.5, 318  (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 250.5 or rejection of 257 with targets of:
  • > 245, 238.75, 230.25 (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 4 Period Variable MA = Cautiously Bullish
  • RNNR Spotter: Last signal was Potential Uptrend. Look for a break of levels mentioned above for continuation of current trend and/or a confirmed buy or sell signal
  • RNNR Momentum: Just crossed into Bullish territory with buying pressure/momentum in the short term. = Cautiously Bullish
  • On Balance Volume w/ Bollinger Band & EMA: Sitting above its 9 & 21 EMA and pointing up. = Cautiously Bullish

1D Chart: https://www.tradingview.com/x/YMwRx4kN/ 

***ROKU (ROKU)***

**Summary**: Been on a nice run as of late but it may be losing steam in the short term or heading into consolidation. So here are some scenarios for the week:

  • Long/Calls: A break and close above 433.75 with targets of:
  • > 441.5, 459.25, 487  (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 424 with targets of:
  • > 411, 405, 392, 380 (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 below the 4 Period Variable MA and sideways, but above the 72 EMA = Neutral
  • RNNR Spotter: Last signal was Sell. Look for a break of levels mentioned above for continuation of current trend and/or a confirmed buy or sell signal
  • RNNR Momentum: Still in Bullish territory but with flat buying pressure/momentum in the short term. = Neutral
  • On Balance Volume w/ Bollinger Band & EMA: Sitting above its 9, 21, & 72 EMA, pointing up and above its upper bollinger band.Thus noting some potential overextension in the short term = Cautiously Bearish

1D Chart: https://www.tradingview.com/x/MDMIwa2i/ 

***Under Armour (UA)***

**Summary**: Has been in Heavy consolidation since Feb 10th 2021 between 17 & 21. A big move may be coming any day now. Will probably be a week or two before earnings on 8/2/21. If you want to get in before an earnings run, wait for a pull back in the 17-18 area. So here are some scenarios for the week:

  • Long/Calls: A break and close above 19 with targets of:
  • > 19.2, 20.65, 22.5, 24.5  (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 18.35 or rejection of 19.2 with targets of:
  • > 17.62, 16.95, 16.5 (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 above the 4 Period Variable MA and sideways, but broke above the 72 EMA = Neutral
  • RNNR Spotter: Last signal was Potential Downtrend, but that reversed the following day. Look for a break of levels mentioned above for continuation of current trend and/or a confirmed buy or sell signal
  • RNNR Momentum: Sitting in bearish territory but with flat selling pressure/momentum in the short term. Currently trying to curl up to the bullish side of momentum. = Cautiously Bullish
  • On Balance Volume w/ Bollinger Band & EMA: Below its 9, 21, & 72 EMA but pointing up.Thus noting a potential reversal of trend in the short term = Cautiously Bearish

1D Chart: https://www.tradingview.com/x/EO8GcC3w/ 

***Apple (AAPL)***

**Summary**: Apple has been on a monster run and has hit ATH’s. So here are some scenarios for the week:

  • Long/Calls: A break and close above 145.65 with targets of:
  • > 148.3, 152.5, 155.5 (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 143.5 or rejection of 145.65 with targets of:
  • > 142.65, 141, 138.6 (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 above the 4 Period Variable MA and the 72 EMA = Bullish
  • RNNR Spotter: Last signal was Potential Uptrend + Buy several days ago. Look for a break of levels mentioned above for continuation of current trend and/or a confirmed buy or sell signal
  • RNNR Momentum: Sitting in bullish territory. = Cautiously Bullish (Because we are at ATH’s)
  • On Balance Volume w/ Bollinger Band & EMA: Above its 9, 21, & 72 EMA and pointing up. = Cautiously Bullish

1D Chart: https://www.tradingview.com/x/J6R8nNjg/ 

***Taiwan Semiconductor (TSM)***

**Summary**: A supplier to Apple and its chart looks ready to break from consolidation. Also reports earnings this week on 7/15. I recommend getting in on Monday and getting out by Wed close if swinging. If you want to risk a small amount that you aren’t afraid to lose thru earnings be my guest. So here are some scenarios for the week:

  • Long/Calls: A break and close above 121 with targets of:
  • > 124.3, 128.3, 133.3, 141.3 (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 119.2 or rejection of 121 with targets of:
  • > 117.6, 114.6, 111.6, 107.3  (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 at crossroads with the 4 Period Variable MA and the 72 EMA. Thus indicating a squeeze or consolidation = Neutral
  • RNNR Spotter: Last signal was Potential Downtrend but reversed the next day. Look for a break of levels mentioned above for continuation of current trend and/or a confirmed buy or sell signal
  • RNNR Momentum: Momentum is flat on the buying and selling side as it awaits earnings. = Neutral
  • On Balance Volume w/ Bollinger Band & EMA: At a crossroads with its 9, 21, & 72 EMA = Neutral

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

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