Sold NTAP at $61.65. Big analyst downgrade on Friday really flipped this stock. Broke below support levels so we’re closing this early. (edited after posting wrong price of $60.65)
Bought 10% COST @ $311.00 Stop @ $297.80 Target @ $349.00 Nice breakout in COST this morning, as it breaks through resistance. Big analyst upgrade this morning, and stock looks on track for some longer-term upside. We’ll give it a bit of room to move, with the stop down below the rising moving averages.
Bought 15% ICE @ $95.80 Stop @ $92.89 Target @ $113.90 We’ve been watching this one for a while as it has consolidated in a range since Sept after having a big rally. It’s breaking out cleanly today, and we expect the next leg up to be roughly equal in length to the previous one.
Trade Update: Move ALGN stop up to break-even @ $280.20 There is some news this morning about SDC stock that is causing ALGN to drop. Hard to tell if this is just an overreaction by the market right now, or not.
Bought 15% PVG @ $10.89 Stop @ $10.59 Target @ $13.75 Gold looks to be putting in a daily cycle low (DCL). It’s a little early to tell for sure, but the timing is good. We’re going to enter a fresh buy signal in PVG, a gold mining stock, with a tight stop in case it proves not to be the case. There is a gap to fill up above, and from there it could … read more Trade Alert
Bought 15% LYFT @ $46.05 Stop @ $43.79 Target @ $53.90 Both UBER and LYFT have rallied nicely the past few days. LYFT has a fresh buy signal coming here as it breaks through the major moving averages. This stock should have significant upside potential with just one level of resistance left to break through.
Bought 15% NTAP @ $63.02 Stop @ $60.68 Target @ $77.90 We’ve got a fresh buy signal here today as the stock runs through the 20-DMA. With all the moving averages underneath now to provide support, and a gap up above as an initial target, we like this setup. It also printed a golden cross recently as the 50-DMA crossed through the 200-DMA.
Bought 15% EA @ $109.19 Stop @ $105.98 Target @ $126.99 Gaming stocks continue to do well, though most are well off their highs. EA has had a nice rounding bottom and is breaking out here now above the 2019 highs. It provides a good reward-to-risk here using the rising 20-DMA as a stop and gap fill as a target.
Moving stops up: GOLD stop to $18.39 PAAS stop to $22.79 Gold has really rallied hard the last few days, but the miners haven’t responded. We want to move stops higher to protect gains in case the miners are right and gold is wrong.
Sold our WBA position at break-even $59.20. Earnings in two days and we didn’t get the cushion we’d hoped for heading into that report. This could still rally, but we’re out of time. Stock could go either way on the earnings numbers.