Watchlist 2023-06-16 $ENVX $CRWD $MU $SHOP $CMA

16 de jun. de 2023

SPY hitting 14 month highs on Thursday, rallying this Friday the morning, likely lead by NVDA's price target and weighing upgrade by MS. Changing their price target from $450 to 500l. Chips stocks gapping up


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

ENVX - Enovix hits Q2 milestone early, producing 18K battery cells. Gapping up 1.75 ATRs ABOVE the yearly cup and handle res at 15.25. HOWEVER, RVOL at time is only 0.4 so we will need to see the vol pick up in the morning, Typical first 5 min bar is ~100K , so a 200K bar which be a good indication that RVOL has arrived.


Support 14.72
Resistance 19.29
Inflection 15.25

Lots of other BO's setting up this morning.

CRWD - Mizuho Adjusts Price Target on CrowdStrike to $180 From $175, Maintains Buy Rating. Support trade off 161.40 if we see buyers stepping up. Need to has multiple touches of the key level and retest in the range for confirmation. If there is a weak bounce after the initial test, that is a signal to either reduce position or get out.

MU - rallying off NVDA's news that morgan Stanley increases their price target again from $450 to $500, while saying AMD will be a lagger. If MU can find a bid, there is plenty of room to 74.

AMD - if chip stocks sell off today, looking for find a place to short ADM as it is the onlly chip not rallying this AM.

SHOP = buy over 67

CMA - RVOL over 2, over 44.25 is a long

Comment what you are watching!