Despite the range bound action in the indices this week, these Top 20 stocks from the watchlist cranked higher. In addition, this week features OPEX, SPY ex-dividend on Friday and a rebalance of the S&P500.
Top 20 Stocks from the Watchlist
The common thread among all of these stocks was:
- Price above bullish 9/21d moving average
- RSI was above 50 and MACD turning higher or crossed
- At entry, price action moved above VWAP
- VWAP remained bullish into the close
- The stocks closed in upper half of daily range
QDEL is currently consolidating its gains (+49.67) after peaking (+55) from our first entry zone. As a side note, we scale into and out of swing positions, always taking profits off the table at key points during the days that follow.
AVLR is near a profit zone, the ATR+3 bands. In addition, the stock has gained more than 20% from entry, levels that William O’Neil ingrained in my mind as a zone to begin thinking of taking some profit off the table. Bill is the founder of Investors Business Daily.
Note additional characteristics that ALVR exhibits which gave traders an added edge.
- Price action moved above VBP into the Kirby (horizontal line)
- Volume was elevated, identifying institutions were present.
Here are the bottom 10 stocks from the watchlist, averaging 10% gains for the week of June 15.
Futures are higher this morning, (+39 / 3137.00) with gamma resistance at 3150 and support at 3100.
As a part of our daily workflow, explained in the video that follows, we’ll sweep more profits off the table at the open, then reassess the markets after the Opening Range (10:00 AM ~ 10:20 AM.
Join us today in the trading room for our LIVESTREAM broadcast during market hours, as we navigate the current environment. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.
Happy Trading,
Vinny
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Disclaimer: Do your Own Research
Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advice” to enter any particular position or asset.
Investment Warnings
We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.
Live Sessions
Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned.
*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.
As always, the use of technical and fundamental analysis is encouraged in order to fine-tune entry and exit points to average seasonal trends.
These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.