Peter's Watch List January 7th

Good Morning,

It was quite a day for the market yesterday. A big gap down open that instantly got bought up and we ended up with a slow grind higher and a very bullish looking daily candle on all of the major indices. This morning we are looking at a very flat open for the moment as I type here at 7:30 AM Eastern time. It will be important to keep an open mind today and again be patient at the open. The recent trend remains an uptrend with small pullbacks mostly getting bought up even when they come with news like the recent US Iran situation, but we do have ourselves right back near all time high resistance again, so it is wise to limit how much long risk you put on in this area. I will also be watching the VIX closely today and throughout the week as we have a long TTM Squeeze on the weekly and the first day of a TTM Squeeze on the daily yesterday which both lean bullish at the moment. Here are some name that i will be watching today:

CRWD is from our weekly watch list and already broke out. I like this for continuation today if it gives a r/g move or if it breaks over yesterday's high with volume.

DDOG is in a TTM Squeeze on the daily and high volume yesterday with some nice call sweep activity. I like this over $40 for a move to the mid $41s or higher

IRWD had a pullback and hold of the sma20 yesterday on very nice volume. This has lots of room up if it can break a double top around 14.10

TWLO had a strong move yesterday and stalled at the sma100. I like this for continuation over that level. I will look for an entry on a break of $108 with a target of $110

PINS is in a nice TTM Squeeze on the daily and made a decent pop yesterday but was held down by its ema34. I like this on a move over $19 for a test of the ema34 and possible break higher

NBIX has a PDUFA date coming up in April and is setting up for a 3/8/20 cross with nice room to recent highs. I like this over 111.20 for a push up to $114 or higher

UBER is a name I had on watch yesterday that gave a nice move up but faded off the highs. I like this on a soft open and then move back up through 31.50 to 31.60 area for a test of yesterday's highs

TEN is a name that I had on watch recently that a member brought up in chat yesterday, and I like the setup here. It has a TTM Squeeze on the daily and it's consolidating around the sma200 for a potential break higher. I like this over 13.69 for a test of $14 and possible move towards $15

14 views0 comments