Hey Everyone,
Today I will share some of what I have been looking at and charting this week. Just click on chart for my notes and annotations.
FYI, I am on the hunt for “Alpha Names” (out perform broader market) to be aware of when the broader market finds a strong bottom/reversal point from current normal re-pricing that is occurring. I am looking for stocks that have out performed the broader market from the Dec. 24 low. Certain names that have ripped since then should continue to rip from lower re-pricing levels. We want to wait for the broader market to finish it’s hiccup before we pounce though.
In the meantime here are some of the charts I have been working on this week…my commentary is on the charts.
SPDR’s S&P 500 Trust Series ETF (SPY) daily
SPDR’s S&P 500 Trust Series ETF (SPY) 15min
VanEck Vectors Semiconductor ETF (SMH) daily
Wayfair (W) daily…Alpha Name
Watchlist
Sonos Inc (SONO) daily
Watchlist
Bristol-Myers Squibb Co (BMY) weekly
Warning
New Age Beverages Corporation (NBEV) daily
Lowe’s Companies Inc (LOW) weekly
See both weekly and daily for historical perspective.
Lowe’s Companies Inc (LOW) daily
Watchlist
Tesla Inc (TSLA) weekly
Watchlist
OK, that’s probably enough chart reading for one day. I have a bunch more that I will share tomorrow or Monday.
Please do your own due diligence as price action analysis (my charting) is just one layer of research when buying/selling…it’s the most important layer in my opinion though.
Have a wonderful Memorial Day weekend,
Don