Updated: Jul 1, 2019
Welcome to our free weekly watch list from The Traders Path. These are names that we like to monitor all week that in some cases may give us multiple entry points. We go through each of the names in detail below with charts.
KTOS is the first name that we like this week. KTOS made a strong move in May and has been consolidating nicely around its sma20 and is setting up for a breakout over the $23 level. There are two ways this could be played. Option #1 is to look for a breakout with volume coming in on 5 minute chart on a break of $23 for a riskier but likely much quicker trade if it works. The second option is to wait for a pullback to or just below the sma20 and then pick it up at a lower price level for a move back to the 23 resistance. Here is the chart with key levels marked:
BLD is the second name on this week's list. This has a beautiful TTM Squeeze setting up on the daily and is another name that is consolidating around its sma20. Ideally I would like to pick this one up off a test and hold of the sma20 level right around $80. We will also be watching for continued decreasing yellow momentum bars on the TTM Squeeze indicator or ideally a move to light blue momentum bars.
CPRI is a nice reversal setup that we will be watching this week. It seems to have created a nice base, but its struggling to get up through the 35 level. One a nice break of 35, this has room to push up to 36.50 where there is a nice gap above. It also has a nice TTM Squeeze on the daily chart as well as the 195 min chart.