The majority of winning stocks from the weekly watchlist look primed to follow through. With the indices trading higher and the Nasdaq back above its 50d moving average, these stocks will most likely extend their bullish trends.
Apple Rallies from Support
Apple price action rebounded from VBP support (shaded zone) as volume increased. RSI, MACD and Stochastic are setup, suggesting trend continuation. We’re looking for buyers to resume this week, with several target levels overhead.
Consumer Discretionary Stocks Rally
Dollar Tree stores broke out to fresh new highs. Look for stocks in the group, Walmart, Target. and others to confirm.
IMAX reported the best “re-opening” sales numbers in a banner weekend, thanks to Godzilla vs. King Kong.
DLTR – click to enlarge
IMAX – click to enlarge
VUZI rallied to start the week, with RSI, MACD and Stochastic bullish, suggesting trend continuation in the short-term.
We bought more shares yesterday and started a buy write, selling the May 27 call for $4.50/contract on 1/2 of our position. If the stock keeps running higher we’ll roll-up to a higher strike as IV inflates.
We’ll wait for the opening range, then look for highest RVOL candidates trading above a bullish VWAP for potential day trades into the start of earnings season.
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