Peter's Watch List for Thursday July 11th

Good Morning,

Welcome to Day 2 of The Traders Path. We are so excited that you have joined us! We had a great day in the chat room yesterday with some nice trades and some great trade ideas. Yesterday the market had a nice move up after Fed Chairman Powell made some comments indicating that a rate cut is very likely in July. The SPY came very close to hitting that 300 level yesterday and is up again here in the premarket. At this point it seems pretty likely that we will test that 300 level, and it will be interesting to see how the market reacts if and when that happens. I am still much more focused on shorter term trades in these conditions.


Here are some names that I will be watching today. Unless noted all names could be swing or day trade setups:


BOOM is in a nice TTM Squeeze on the daily, and it made a nice move over the sma20 yesterday on expanding volume. I like this from 64.25 to 64.50 for a move back up to the sma50 around 66.50


MYOV has been in a nice bottoming pattern and is looking ready to make a move up here. I like this over yesterday's high of 9.63 for a move to test the $10 level and possibly move to the mid $10s This would be a day trade only as this is a biotech with data due soon and I do not want to be holding this overnight


LKSD is in a nice rounding pattern after a sharp pullback and has a lot of upside room after moving above the ema8 yesterday. I like this from 3.95 to 4 for a possible move to the mid $4s


AKCA is another name that I will be watching for a day trade only as they have some Phase 3 trial data due soon. This is in a nice TTM Squeeze on the daily and is starting to move up out of a very nice consolidation along its sma50. I like AKCA over 24.35 for a move up to 25 or higher


SKY has been in a pattern of moving up and then pulling back to its sma20 before moving up again. It is looking ready for its next leg up off the sma20, and I like this name from 27 to 27.35 for a move to 28 or higher


CYBR is in a beautiful TTM Squeeze and looks ready to test its recent highs. I like this over 132.17 for a move to 135 or higher


EYE made a nice move in June off of a double bottom and since then has pulled back to the sma20 where it has been consolidating nicely. This is starting a TTM Squeeze and I would be very interested in this setup if we get a light blue bar on the TTM and a move over the $31 level


GNRC is a name that I will be watching for a few days here as we are moving into hurricane season. It's a little extended right now, and I would be interested in this name if it pulls back to the sma20 which is around 68.50


Feel free to contact me at peter@thetraderspath.com if you have any questions and trade green!

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