Yesterday we saw a strong gap up for all of the major indices which then largely traded sideways all day long. This morning we are looking at a decent gap down, and it will be very interesting to see how this gets digested by the market. For those of you who have been with us for a while, you know that we much prefer these gap down opens to the big gap up and sideways days. I will definitely be watching our weekly watch list today as well as a few other names for potential buying opportunities if the market finds some support on this gap down.
BA is breaking a trend line and had some very aggressive call sweep activity yesterday. I like this on a reclaim of the daily sma20 at 187.50 for a push up towards the $200 level
JBHT is in a nice ascending triangle in a TTM Squeeze and has earnings coming up on July 16th. I like this on a small pullback to the $118-120 area for a potential run into earnings
WEN is building a very nice shelf of anchored volume by price in a TTM Squeeze. I like this on a soft open and red to green move for a push up towards $24 or higher
MXIM is in a nice ascending triangle in a TTM Squeeze. I like this on a pullback to $60 for a move up to the top of the triangle around $63 and a potential breakout
FB I'm mostly watching for a day trade, but I like this on a soft open and red to green move and may even consider this for a swing depending on the market