A flat week that was anticipated, one notable event was China's stimulus package announcement, which sent China-related stocks soaring. Most of these stocks surged without prior consolidations or warning signs.
This week, we anticipate some retracement, likely a temporary pullback. Further upside may follow, potentially as the upcoming earnings cycle begins.
Here are four stocks to keep on your radar this week:
CTLT (Bullish) - This high OVI correlation stock is forming a bullish pullback consolidation setup around its 50-dma. Looks promising on a breakout.
INTC (Bullish) - Needs to complete the consolidation and then break out through Friday's high, but the potential is there if it can stay above its 50-dma.
IQV(Bearish) - Needs to breach its 200-dma and formidable support at $230 to become a bearish play, but the potential for a decent drop is there if it does.
KR (Bullish) - A prolonged sideways move after breaching its 50-day Key Level with a post-earnings breakout, this grocer looks poised for further upside.
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.
Disclaimer: 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.