UnclePennybagss

Watchlist 2023-05-17 $SE $BIDU $DOCS $HD $MU

NASDAQ:AMAM   None
SPY pointing to a higher open coming up this morning as lawmakers near a deal to avoid debt default. Price still remain tight between 409.30 and 414. The first close on the hourly past these levels might give us an indication of which way the market wants to go, until then, no directional bias.


For further confirmation of a trend day, watch for:
ADD pinned near +\-2000
VOLD ratio over +/- 3
TICK cumulating past 0 wicking to +/-900

SE - day 2 short continuation. No signs of buyers stepping up at any points PD. Key level is 71, PD low, PM low, and bottom of the multi month range. March 7th was the high vol day that brough us into this range, AVWAP price from there is 80, so longs are well under water.

NASDAQ:AMAM - BO over the multi-month range at 13.00. Virtually everyone in this name ever is now positive as it approaches the IPO low price at 15. Keep in mind this could be where some profit taking takes places and early investors want to get out at break even, however I think we are enough years ahead of that.

BIDU - First-Quarter Profit Helped by Higher Revenue, Fair-Value Gains. Earnings of 30% higher QoQ and 9% higher YoY - from earnings two days ago. Appears to be finding some support at the res of the range at 125.70. Be patient for this trade and wait for a pullback after a strong opening range break to the upside.
Support 125.5
Resistance 134.0
Inflection 128

DOCS - stock falls as quarterly outlook misses. Physician cloud-software company topped most of Wall Street's expectations except for the current quarter's revenue forecast. Shot under 30.20., PM low and pivot low. Target 28.50.

HD - Investors seem to phase off HD poor retail sales data yesterday. It made a fake out under the key 280 level and rallied for most of the day. This is setting up a high R/R swing off that low. we will see how to market reacts to TGT's higher earnings but downbeat forecast as this could help or hinder ho HD trades today.


MU - waiting patiently for a break over 65.00 or a test of the range area of 63 for a long, anticipating the break later on.

Let me know what you guys are looking at in the comments!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.