I hope that everyone had a great weekend. The market had a slow grind higher last week to all time highs for the SPY, DIA, and QQQ. So far in the premarket this morning we are looking at a relatively flat open. We are in a spot where it is tough to say if the market is going to want to push higher or give us a pullback here, and I will be a very patient trader as I wait to see some direction from the overall market. It will also be very important to watch how earnings come in this week for some large companies like C, WF, MSFT, BAC, NFLX, and more. Here are some names that I will be watching today:
SRRA has a nice move up over the sma20 on volume Friday, and I like this continue on a break of Friday's high of .67 for a move to the .75 area.
OSPN has been in a nice bottoming process and made a nice move Friday over the sma50. I like this name over 15.23 for a move up towards $16
VLRS made a nice move back over the sma20 on Friday, and I like this over 10.09 for a move to the 10.50 area or higher.
LYFT has been trading now for a little over 4 months and had a nice bounce in mid May after a disappointing IPO. It pulled back a bit this month, but on Friday it moved back over the sma20 and looks like it may want to push higher. I like this over 64.60 for a move to 66 or higher.
SA is a gold name, which is a sector that has been getting some nice recovery lately. It also has a nice cup and handle setup, and I like this name over 13.92 or entry on a 14 break for a move to 14.50 or higher.
WGO is in a TM Squeeze on the daily and is just coming out of one on the 195 min chart. I like this setup on a small pullback and sign of reversal on the 5 min chart.
MMM has had a rough spring and early summer and is showing some signs that it might want to get some recovery here. Again here I'm looking for a small pullback and sign of a reversal for entry here.
CSX has been very strong and has earnings tomorrow. I like this over 78.76 for a push up towards $80 as it may get some attention heading into its earnings call tomorrow afternoon.