It was quite a week for the market last week as the QQQ, DIA, and the SPY all hit new all time highs as its looking more and more like the Fed will cut rates at their July meeting. We also have earnings season kicking back into gear this coming week with C starting things off Monday morning. Another event this week that is having some influence on our watch list is Amazon prime day. This has turned into a mover of all retail stocks, and is giving some beat up charts a nice bounce. We have quite a few of these retail setups on our watch list this week. Here are the names that we will be watching all week. Please remember that in any setup where we are looking for a pullback, we want to see a pullback and then a move starting back up before entering a trade.
CPRI which formerly went by the ticker KORS, really got punished by the market when they acquired Versace. Over the last month it has been in a nice bottoming pattern and looks ready for a continued move higher. We like this name from $36 to 36.50 and a sideways and up move over the sma50 with a nice gap above.
UPWK has a inverse head an shoulders type setup and a nice TTM Squeeze on the daily chart. We like this on a slight pullback and then move up through 16.50 to test the neckline at $17 and then possibly break higher.
GPS is in a nice bottoming pattern with TTM Squeeze on the daily. We like this for entry around 18.50 to go up and test and possibly pop through the ema34 around $19.
PLAY is in a nice bottoming pattern with a TTM Squeeze on the daily. We like this on a pullback to the 40.50 area and move back up or on a break up over 41.41 for a move up to the nice gap above.
CRCM is a name that is very beat up after some negative news earlier this year. We like this set up on a move up over 11.50 towards the gap above starting at 12.32
NTNX is a name that has been the subject of some buyout rumors and has had quite a few bullish call sweeps to go along with those rumors. It also has a nice bottoming pattern with a TTM Squeeze. We like this over 27.50 for a move up to some resistance around 28.50 and possible move higher.
DLTR is one of the stronger looking retail names out there. The chart has a nice TTM Squeeze on the daily and could be setting up for a break to new highs. Ideally we would like this on a pullback to the sma20 but would also be interested in a move over 112.50
KSS was on the watch list last week and gave our members some nice trades last week. This still has some room up and had been a little choppy, so you can get nice pullback entries if you are disciplined. We like this ideally for an entry around 48.50 for a move up and test of the $50 level and possibly higher.
BOOT is another retail name showing some strength recently. We like this on a pullback and hold of the sma20 around 34.75 or on a break up over the 35.50 level for a push to recent highs around $37
DELL is a name that we like on a pullback and hold of the $53 area for a move up to some resistance around $55 It also has a very nice TTM Squeeze on the daily and looks good on multiple time frames.