Four Stocks To Keep On Your Radar This Week

Home of the patented OVI. Global pioneer in stocks & options, helping you Trade Better, Faster. • Jul 8, 2024 at 2:48 PM EDT

Conditions remain suboptimal for breakout trading, but the shortened holiday week suggested further bullishness while the SPY and QQQ remain overbought.

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While conditions remain sub-optimal for breakout trading the shortened holiday week suggested further bullishness while the S&P and Nasdaq remain overbought.

In a perfect world, we like to see stocks and the main indices setting up near their Key Levels.

Notwithstanding that, here are four stocks to keep on your radar this week:

AMD (bullish) - Slightly out of fashion compared with NVIDIA, but stubbornly hugging its 50-DMA Key Level with a passably bullish OVI and bullish Shrinking Retracements suggesting buyers are hanging in there.
QCOM (bullish) - A potentially classic pullback consolidation to a Key Level with persistently positive OVI.
TPX (bearish) - Struggling to get back above its 200-DMA Key Level, a negative OVI, and visually apparent bearish Shrinking Retracements. Needs to break recent lows for a short.
ZS (bullish) - Recovering well since its May earnings and building up technical strength with a positive OVI, encouraging action near Key Levels, and arguably bullish Shrinking Retracements.

WiseTraders Stocks To Watch Jul 08 - Jul 12

More By This Author:

Four Stocks To Watch This Week
Resilient But Flaky Conditions Set To Continue

Disclaimer:

Remember, we only trade confirmed breakouts and always manage our trades with the E.D.G.E trade plan.

This watchlist does not constitute financial advice or trade recommendations.

Results may not be typical and may vary from person to person. Making money trading stocks takes time, dedication, and hard work. There are inherent risks involved with investing in the stock market and options trading, including the loss of your investment. Past performance in the market is not indicative of future results. This is neither a solicitation nor an offer to buy/sell stocks or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in this training, video or website. All trades, patterns, charts, systems, etc, discussed in this training, video or website and the product materials are for illustrative purposes only not to be construed as specific advisory recommendations. Any investment is at your own risk.

STOCKS IN THIS ARTICLE

ZS AMD TPX QCOM

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