Watch List May 19th

Good Morning,

Yesterday we saw the market gap down a bit and trade sideways for a large part of the day until selling off later in the day and leaving us with a weak daily candle on all of the major indices. This morning we are looking at a pretty good gap down for all of the major indices and a gap up for the VIX. The QQQ in particular is looking very vulnerable to more pullback, and the SPY may have a second test of its daily sma50 in a week. Overall caution is still warranted as we see if this is just a normal pullback or the start of something bigger. Here are a few names that I will be watching today:


FEYE is in a long TTM Squeeze and tested vwap anchored to the December highs yesterday. I like this on a pullback to its sma20 for a long entry for a move to retest anchored vwap and possibly break much higher


REGI recently had a 3/8/20 cross up and is reclaimng its sma200 with a TTM Squeeze on the daily. I like this on a back test of that sma200 around $64 for a push up to $70 or higher


SRPT made a big move up yesterday after a long period of weakness after presenting at a conference, but it ran right into some heavy overhead supply. I like this short on a second failed attempt to go through vwap anchored to its January gap down around $84 for a push down to $77 or lower


BYND has been trying to bounce after a big breakdown earlier this month, but seems to be forming a bear flag with resistance at the $106 area. I like this short on a failed attempt to get through $106 for a push down to $100 or lower


RAD has been showing a lot of relative strength in the recent market pullback and has a nice TTM Squeeze on the daily. I like this on a pullback to $19 for a push up to $21 or higher





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