Watch List August 20th

Good Morning,

We saw a bit of a pullback in the market late, that seemed to have Twitter abuzz with talk that the sky is falling, which in my opinion is way overblown. We are gapping down some more this morning, but all of this so far fits with the behavior of a normal and healthy pullback. This is why we always say to manage risk through position size when we are on all time high resistance. The big question is do we continue to test down and if so, the big spot for me to watch is the daily sma20 around 331.50 As long as that holds, we remain in an uptrend, and we are just seeing a pullback. If that breaks and we see a 3/8/20 cross down, then we will consider that the uptrend may be breaking, and we will adjust our approach accordingly. My scans all week long are not turning up a lot of great setups, but here are a few names that I will be watching today:


ZM had a nice reclaim of the sma20 the last few days and looks ready for a test of all time highs. Entry here will depend a lot on what the market does today, but this is a name I will be watching all day long for day trades and possibly for a swing


CLDX is in a beautiful flag in a TTM Squeeze and has Phase 1 data due "Fall 2020" I like this from 11.75 to $12 for a break up to $14 or higher


RDFN is building a nice base of anchored volume by price around its sma20 and looks ready for a break higher soon. I like this on a pullback to the $44 area for a break up towards $50


TGNA is rounding up nicely towards its sma200 in a TTM Squeeze. I like this over yesterday's high for a push up to the $14 area





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