Watch List August 5th

Good Morning,

Yesterday we saw the market put in a red inside day with a pretty tight trading range, which is no surprise as we sit on all time high resistance. This morning we are seeing a moderate gap up in the major indices and a relatively flat VIX. Overall nothing much has changed as far as our market view. It is also important to note that we have the employment report tomorrow morning, and we may see some risk off into that this afternoon. Here are a few names that we will be watching today:


FATE is a biotech that reported earning today and with that out of the way, this is an interesting chart into some trial data readouts that they have coming up on August 19th. I like this on a pullback to the $84 area for a push up to $95 or higher into their data and will not hold through data if I take the trade


GDRX is in a bottoming pattern where it has put in a higher low and has a 3/8/20 cross up with a TTM Squeeze. I like this on a soft open that goes red to green for a push up to $35


SNAP made a strong move on volume yesterday, and I like this on a soft open that goes red to green today for a push up to test $80 and possibly break much higher


SOFI is setting up for a 3/8/20 cross up with a TTM Squeeze on the daily. I like this on a pullback to the $16 level for a push up to $19 or higher









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