Stocks to Watch This Week (8/23)

Week of 8/23/21

Overall Sentiment for the week: Neutral as many stocks and indexes are near all time-highs, attempting to re-test all-time highs, or in consolidation post earnings. Same sentiment as last week. Also Indexes are attempting to recover from Options & Contract Expiration Week selloffs. Trade what you see and be flexible.

***Peloton (PTON)***

**Summary**: If history repeats itself we should get a nice bounce in the 92-96 (Possibly 100) buying zone to retest the 120’s. Long shares here or 115/120 calls 2.5-3 months out. All analysis is based on the Daily chart but the Weekly chart is posted for additional reference. However here are some scenarios for the week that could play out in the short term:

  • Long/Calls: A break and close above 109 or a bounce off 106.5 or 104 with targets of:
  • 111, 112, 114.6, 118. 122 (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 106.5 or rejection of 109 with targets of:
  • 104, 101.25, 98.5, 96, 92.5  (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 riding below the 21, 50, & 72 EMA and the 4 Period Variable MA = Bearish
  • RNNR Spotter: Last signal was a Potential Downtrend + Sell on Friday. Look for a break of levels mentioned above for continuation of current trend and/or another confirmed buy or sell signal
  • RNNR Momentum: In bearish territory and curl down in the short term. Weak Buyers are present = Bearish
  • On Balance Volume w/ Bollinger Band & EMA: At its 72 EMA, below the 21 EMA and pointing up. = Bearish to Neutral

1D & Weekly Chart: https://www.tradingview.com/x/DaKzTgXD/ 

***Advanced Micro Devices (AMD)***

**Summary**: Has been on a nice run as of late but looks to be cooling before another leg up or breaking down further. All analysis is based on the Daily chart but the Weekly chart is posted for additional reference. Here are some scenarios for the week:

  • Long/Calls: A break and close above 106 or a bounce off 103.25 or 102.1 with targets of:
  • 108, 110, 112, 114  (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 or rejection of 106 or 108 with targets of:
  • 102, 99, 96.5 (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 below the 4 Period Variable MA but above the 21, 50, & 72 EMA = Cautiously Bullish to Neutral
  • RNNR Spotter: Last signal was a Potential Downtrend on Wed but buyers stepped in Thurs & Friday. Look for a break of levels mentioned above for continuation of current trend and/or another confirmed buy or sell signal
  • RNNR Momentum: Still in Bullish territory with mild sellers. = Cautiously Bullish to Neutral
  • On Balance Volume w/ Bollinger Band & EMA: Above the 21 & 72 EMA and pointing up but nearing the top of the bollinger band = Cautiously Bullish to Neutral

1D & Weekly Chart: https://www.tradingview.com/x/PRzhOsYU/ 

***Roku (ROKU)***

**Summary**: Sold post earnings and may be in an area for a rebound. It could also just consolidate in the zone on the chart as well. If you want to play a longer date contract like 1-2 months out that could also work here as well. All analysis is based on the Daily chart but the Weekly chart is posted for additional reference. Here are some scenarios for the week:

  • Long/Calls: A break and close above 357 or a bounce off 343 or 338 with targets of:
  • 367.5, 382.5, 369 (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 343 or rejection of 357 or 367.5 with targets of:
  • 338, 329, 320, 302 (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 below the 21,50, & 72 EMA = Cautiously Bearish to Neutral
  • RNNR Spotter: Last signal was a Potential Uptrend on Friday. Look for a break of levels mentioned above for continuation of current trend and/or another confirmed buy or sell signal
  • RNNR Momentum: In Bearish territory with weak to mild sellers. = Cautiously Bearish to Neutral
  • On Balance Volume w/ Bollinger Band & EMA: Below the 21 & 72 EMA and pointing up = Cautiously Bearish to Neutral

1D & Weekly Chart: https://www.tradingview.com/x/t6QBexi9/ 

***Crowdstrike (CRWD)***

**Summary**: Earnings in two weeks and may experience a run up or run down before then. All analysis is based on the Daily chart but the Weekly chart is posted for additional reference. Here are some scenarios for the week:

  • Long/Calls: A break and close above 238.75 or a bounce off 233 or 227/229 with targets of:
  • 243.5, 246, 252, 259 (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 233 or rejection of 238.75 or 243.5 with targets of:
  • 227, 220, 213 (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 below the 21,50, & 72 EMA but trying to curl up = Cautiously Bearish to Neutral
  • RNNR Spotter: Last signal was a Potential Uptrend on Friday. Look for a break of levels mentioned above for continuation of current trend and/or another confirmed buy or sell signal
  • RNNR Momentum: In Bearish territory with weak sellers. = Cautiously Bearish to Neutral
  • On Balance Volume w/ Bollinger Band & EMA: At the 21 & above the 72 EMA and pointing up = Cautiously Bullish

1D & Weekly Chart: https://www.tradingview.com/x/prc9mU49/ 

***Target (TGT)***

**Summary**: Post earnings selloff with a strong reboundAll analysis is based on the Daily chart but the Weekly chart is posted for additional reference. Here are some scenarios for the week:

  • Long/Calls: A break and close above 254 or a bounce off 233 or 227/229 with targets of:
  • 255, 256.3, 258, 259.5  (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 252 or rejection of 254 or 255 with targets of:
  • 249.25, 246.5, 244.5 (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 just close above the 4 Period Variable MA and below the 21 but above 50, & 72 EMA = Cautiously Bullish to Neutral
  • RNNR Spotter: Last signal was a Potential Downtrend+Sell on Thursday but buyers stepped in on Friday. Look for a break of levels mentioned above for continuation of current trend and/or another confirmed buy or sell signal
  • RNNR Momentum: In Bullish territory still with mild sellers. = Cautiously Bullish to Neutral
  • On Balance Volume w/ Bollinger Band & EMA: Below the 21 & the 72 EMA and pointing up = Cautiously Bearish to Neutral

1D & Weekly Chart: https://www.tradingview.com/x/DROzhU7c/ 

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