Alps Alerian MLP ETF (AMLP) held its 14 day moving average and traded almost twice the normal trading volume on Friday. It held the $8 area on the 5 year chart where previous uptrends have started. AMLP also pays a healthy 8.49% dividend. MLPs have been beaten down for some time, let’s see if it can continue its breakout this week.
Stocks to watch – PAYS, ATEC, LK, and OII
Trade of the Week Archives
Marriot Int (MAR) briefly broke below the 200 day sma early last week but retook it on Wednesday on good volume. MAR has been trending between $120 and $140. Currently priced at $129.43 it looks ready to move higher. Its 200 day trend line is beginning to slope upwards.
Stocks to watch – OSTK, TSN, SNAP, and YETI
Western Digital Corp (WDC) held its previous low of $35 and exploded 60% higher in a little over a month. It is now testing the 50 day moving average for the first time. Last week WDC closed up three consecutive days. Last time Western Digital touched $35 it ran to $105.
Stocks to watch – DVA, VSLR, AMAT, and YNDX
Iamgold corp (IAG) tested and held its 200 day moving early last week. The 200 day moving average has flattened out which tells me the bottom is in. It along with the rest of the gold stocks did well last week. My stock screener is flooded with gold set ups this week.
Stocks to watch – FSM, MUX, MOGU, and TCEHY
Sunpower Corp (SPWR) has been breaking out over the past few months. There are some large green candles on the chart that indicate to me big institutions have taken positions in SPWR. It looks like $12 resistance has now turned into support. Sunpower is one stock to keep an eye on this week.
Stocks to watch – WGO, WKHS, TQQQ, and VSLR
Redfin Corp (RDFN) has been trending higher for the past 3 weeks. Big volume entered RDFN in early August. It consolidated sideways last week and is holding its 14 day moving average. Redfin should gain market share as real estate continues to climb higher. Its 1 year target price is $22.60.
Stocks to watch – BZUN, BYND, PAM, and SNAP
Ventas Inc (VTR) has been consolidating on its 50 day moving average for the past two weeks. On Friday it started to break out. Volume is a bit light, but real estate might a defensive way to play a volatile market. VTR also pays a 4.68% dividend. In August of 2017 and 2018 Ventas did well, let’s see if August 2019 is more of the same.
Stocks to watch – WING, FND, SNAP, and ICE
Aqua America (WTR) has been in a multi-year uptrend since the end of 2015. For the past couple months it has been in a sideways consolidation. Last week it tested and held the $40.50 area again before moving higher on Friday rising above its 14 day moving average.
Stocks to watch – RDFN, AWK, USAT, and PAYS
Avantor Inc (AVTR) had its IPO in the middle of May. It has been in business since 1904. AVTR has been range bound between $17-$19 for the last 8 weeks. It looks to have found support on its first touch of the 50 day moving average. Avantor has a 1 year target price is $21.35.
Stocks to watch – OSK, TACO, and CRON
Ollie’s Bargain CS (OLLI) had a sharp reversal last week. It broke above the 200 day moving average on slightly higher than normal volume. There was all a bullish macd crossover which has been great entry points for this stock in the past. The 1 year target price on this stock is $99.50.
Stocks to watch –ANF, FND, BWA, and SAND
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