Well we can certainly say it was an interesting week last week. We started with a pullback, followed with some recovery, and then finished with another pullback on some news. Looking at the SPY, this left us with a doji on the weekly candle at all time highs. We are also a bit extended from the sma20 and sma50 on the weekly chart, but having said this we have certainly moved higher from similar levels of extension in the past. We do have quite a bit of uncertainty with the escalating conflict between the US and Iran, and I don't think that anyone really knows which way this goes over the weekend and into next week. Last but not least it is worth noting that the VIX weekly chart is in a long TTM Squeeze that is starting to shift from bearish to bullish. Overall, we are still taking a pretty short term focused approach to the market with shorter time frame trades in favor of longer term swings. Here are some names that we will be watching all week:
LB is a name that finally seems to have formed a decent base and looks ready for a move back up. It has a very nice TTM Squeeze on both the daily and weekly charts and had some call sweep activity on Friday. Ideally we like a pullback to the sma20 and an entry on the way back up over 18.25 but would also consider a break above $19 with volume for entry.
CRWD is another beat up name that is showing some signs of turning around. It also had a lot of call sweep activity Friday and is being talked about as a US Iran conflict play since one way Iran may attack the US is with a cyber attack. We like this over the ema34 around $51 for a push up to $54 or higher
CYBR is another stock in the cyber security space that is looking interesting. It has a bit of a shallow cup and handle over the last 5 months or so. We like this over the sma20 around $121 for a push up to the $125 area
NUAN is a name that gapped up in November and has since consolidated along its sma20 in a TTM Squeeze. We like this over last week's high of 18.07 for a push up to $19 or higher
DIS is a name that showed a ton of strength on Thursday only to pullback with the market on Friday. It also has a nice TTM Squeeze on the daily. We like this over $147 fr a push up to test $150 and possibly break higher
LK is a name that we have been watching and trading for weeks that is starting to take a little rest the last couple days. Ideally I would like to see this pullback nearer to the sma20 and get it on a move back up through the $35 level.
ANGI has a large rounding pattern after a big gap down in August. We like this over last week's high of 8.88 up to $9 for a push up towards the gap that starts at 9.62