Weekly Watchlist July 10th-14th
Getting you prepared for this week on the overall market and the top stock market setups for this week!
Inflation Numbers (Very Volatile )
This week on Wednesday we have the inflation numbers which is going to be a hit or miss. Pre market Wednesday & Thursday are going to be 2 uncertain times where we can either gap up or down due to some inflation news. The news will be priced in right during pre market. These are uncertain catalysts to watch for if your holding any overnights especially on options.
SPY 0.00%↑- Top 500 Stocks
SPY 0.00%↑ consolidating on the daily timeframe with a ascending triangle formation. $438 being a major level of support. Below $438 we have room to 429.58. Bullish scenario is holding this level of support and consolidating between the triangle to breakout to 448.44.
QQQ 0.00%↑ - Tech ETF
Symmetrical Triangle on the daily timeframe. Bearish below 366 PT 356.29. Bullish above 371.66.
Tesla TSLA 0.00%↑ - Short - Price Target 264
Tesla price target 264.78 to fill the gap down below. Stop loss above 284.93 because above that we are breaking out to 320. The RSI is at the over bought level since Tesla has had a incredible run the past couple days. Since it has had a run for the past couple weeks and we are approaching earnings, watch out for profit taking and a sell before earnings.
🐻 Weekly Puts or TSLS 0.00%↑ Shares at Open
🔴 Price Target: 264.78
🔪 Stop Loss: 285
Visa V 0.00%↑ - Long @ 235
Visa has been consolidating for the past year and has now broken out of that consolidation phase. $235.11 was a previous resistance and since it has now broken that level it is now the support. $235.11 is the buy area for shares. Stop loss is the closed below $235.11 on the daily timeframe. $235.11 is the magic and critical level for this stock.
🚀 Long/Buy 235.11
🔪 Stop Loss Close Below 235.11
🟢 Price Target All Time Highs
Small Cap ETF IWM 0.00%↑
IWM 0.00%↑ massive symmetrical triangle on the weekly timeframe. Consolidating for more than a year. This play is very similar to our previous play on Ford. I will be playing it with shares to play the breakout to the upside. First price target $198.71 and second price target 209.91. Very laid back chill play with shares. Stop loss close below 168 support on the weekly timeframe.
🟢 Price Target: 198.71 & 209.91.
🔪Stop Loss: Close below 168.
🚀 Entry: Shares at open or between the consolidation zones.
Glossary
Bullish: Stocks go up, green market
Bearish: Stock go down, red market
Consolidation: A phase where the stock trades sideways getting ready for a huge move to the either side.