Watchlist 2023-03-29 $SPY $LULU $BABA $VKTX $SCS $AUPH
SPY - had a very tight range day but without too much volatility allowed for moves in names like BABA and VKTX. Gapping up this morning back into key resistance areas, SPY will have trouble making it through these levels without any catalysts in the near future, however, as volatility drops in the banking sector it seems fears of a widespread economic collapse have eased, which gives room for the relatively strong tech sector room to move.
Remember, for a trend day we'll need to see the $ADD pinned near +\-2000 and $VOLD ratio over +/- 3 and $TICK cumulating past 0 wicking to +/-900.
$LULU - stock soars 13% on revenue, earnings beat, and better full year guidance. Up 6 ATRs which is far too much in PM trading but with a triple beat on 2 RVOL, we are not looking to short this name. Looking for support at 360 or 350. Need to see support in the form of a double bottom or Rev h&S on the 5 min for confirmation.
$BABA - expecting a range bound day. Support is 96 and 94. same rules apply as above. Likely will need a few days of consolidation before a test of 100 again.
$VKTX - has potential to keep grinding higher as it finished at the HOD and has more room to ATHs. Looking for support tests of 14.5.
$SCS - a previous watch a few days ago. It's now broken and tested the 8.35 level looking for a break above 8.80. Will need to see vol come in on the break as PD was fairly light.
Other watches:
$STM - BO over 52.25
$AUPH - looking for support test of 10.65 or 10.40
Remember, for a trend day we'll need to see the $ADD pinned near +\-2000 and $VOLD ratio over +/- 3 and $TICK cumulating past 0 wicking to +/-900.
$LULU - stock soars 13% on revenue, earnings beat, and better full year guidance. Up 6 ATRs which is far too much in PM trading but with a triple beat on 2 RVOL, we are not looking to short this name. Looking for support at 360 or 350. Need to see support in the form of a double bottom or Rev h&S on the 5 min for confirmation.
$BABA - expecting a range bound day. Support is 96 and 94. same rules apply as above. Likely will need a few days of consolidation before a test of 100 again.
$VKTX - has potential to keep grinding higher as it finished at the HOD and has more room to ATHs. Looking for support tests of 14.5.
$SCS - a previous watch a few days ago. It's now broken and tested the 8.35 level looking for a break above 8.80. Will need to see vol come in on the break as PD was fairly light.
Other watches:
$STM - BO over 52.25
$AUPH - looking for support test of 10.65 or 10.40