There is a lot of sector rotation going on out there so I wanted to do something quick an informative. Here I just took a Wide Array of Random Stocks I have saved in my thinkorswim app and going to Look at the Weekly Closes of Each. (Yes I know this is before the close but I want to get this done before the weekend)
As you can see below. Must of the individual names, mostly growth names look like shit under the hood. Let’s look.
Closing on the Weekly Lows. Looks like it will test below 700 and at least the 200 Day MA next week.
Closing on the dead lows at the end of the week and completing a nice Rounding Top formation. Looks Gross. Probably testing 125 in the next few months.
Broke the 200 Day MA and closed below it on the Weekly Time Frame. This looks Bearish, very Bearish. I think you see 105 in the near term. Scroll down and look what happens with these other stocks as they break the 200 Day MA.
This chart looks awesome. I am not sure why the Roomba (I think) is taking off like this but every other tech chart looks opposite of this one. If tech does turn around you would go with strength. This is strength.
Nike is under the 200 MA, looks like it will retest the Aug 2015 Flash crash lows. That is where I would look to buy, nothing sooner.
Deutche bank, as I have been saying the past couple weeks, should be bought on all pullbacks. This is a longterm generational bottom and capitulation low IMO.
What looked like the best FANG stock at the beginning of the week, does not look so hot anymore. If this clsoes below the 200 MA look for it to follow suit with FB down to 700.
All Day Breakfast came out firing at the beginning of the year but recently ONLY rallied back to the 200 day. This is a short against 120 unless it closes above.
Besides IRBT, AAPL looks the best on a weekly time frame. The longer it holds above the 105 area the more likely it will be the strongest tech stock when Tech bounces.
Walmart is staying above the 200 Day. Needs to hold 70 but it is right smack in the middle of its 35 point range. Does not really interest me.
Double Top off of 70 and under the long support at 40. It has checked back to 40 already. I have no reason to argue against lower prices.
Kroger broke the 200 day and has held below. Until it gets back above there is no reason to not expect lower prices.
Sprouts is my favorite grocery store. It is not my favorite chart. Straight downtrend from IPO where will it bottom nobody knows.
If CYBR can hold 47 I think this is a buy if things turn around. It has held the 200 day MA. Unlike…
This looks like trash. 115 Better Hold…or its going to test 90.