Watchlist for week ending 11/19/21
For week ending 11/19/21
LULU – Potential pullback to the 21EMA on the Daily (the mean) down at $445 before the next move up this could be the 5th wave trigger. We closed just inside the 4hr Keltner Channel and would look for the move up and out of the weekly KC cloud a break of $460. We have a ton of overhead resistance, for support we have the Daily KC mid at $445 also looking for the MACD to turn positive on the daily, be paytient! Above $455 is really the safer play to the upside for a move to the 200SMA on the 15min chart at $462.50 then make a decision based on the setup.
The 15min Algo is stair stepping its way up and we need the wedge breakout to happen for the bullish move up. Regular block trade support at $466.14 is the first target and a Dark Pool Block trade at $470.48 gives us move to the upside. If we break below we head down to the gap fill and test previous highs.
NSC – Another potential tweezer bottom on the daily we have room to $284.25 which is the 21EMA on the daily(mean). Daily and 4hr Keltner Channel support trying to move back into the weekly KC cloud top. The target of $285 and then $290 should be achieved as long as this level holds. $282 is the target on the 15min chart which is the 200SMA as well, above that and we get breathing room to make a run towards previous highs.
The 15min Algo is choppy and vertical going into Friday we are at regular block support/resistance consolidation zones right now. $278 resistance, $274.98 support. Best bet would be a break above the regular block levels and look to gap fill up. We have a white line target at $284.60 and I will be looking for options near that level.
AMT – Trading at -1 ATR we have room to the POC on the Daily at $283.21 that would be a reversion to the mean which is the 21EMA on the Daily at $280. We are at the 4hr and Daily KC bottom looking for a move up to the 4hr KC top at $280 see how that lines up with the 21EMA on the Daily. We are being squeezed on the 15min chart and have the 200SMA overhead as a target and resistance at $276 above that and we get some breathing room.
The 15min Algo is bullish divergence another wedge breakout is what we are looking for off of regular block trade support at $272.50 with overhead regular blocks at $277.83, $278.76 and a Dark pool block trade at $281.97
SEAS – Nice pullback to the 21EMA(mean) tweezer bottom and a solid support. To help that we are at the 4hr Bottom and Daily mid so we want the move to the 4hr mid $66 then the Daily and 4hr Top at $68 on the 15min chart we have the 200SMA at $66.50 and we need to get above the 50SMA at $64.50 above that 200SMA and we get a lot of room to move up to the $70 area.
The 15min Algo is bullish diverged and another wedge breakout setting up. The algo popped up over regular block level at $69.10 with regular block support at $62.50 and immediate overhead resistance at $64.74 we have room to the upside if the current support breaks we we come down to that regular block level.
MTCH – Is this a double bottom on the Daily setting up a “Wu” Reversal? Keep an eye on the POC at $158.41 for resistance this is also the 21EMA on the Daily. Support at the Daily KC bottom and would like to get back into the 4hr Kelts with the Daily mid/4hr Top target at $160 would like to also make that move up to the daily top at $168, the 200SMA on the 15min chart is first target and a real decision making level above that we test $165 so there is room.
The 15min algo is vertical and that indicates some serious interest coming back into MTCH. We have regular blocks overhead at $148.55, $149.75 and a Dark Pool at $150.20 above that we start to take out previous highs on the way up to massive regular and dark pool levels.
Algos and Dark Pools are getting smoothed again..
SPY – more all time highs, however the daily candle is a reversal candle, it might make sense to look at the pullback support area that is the weekly and daily Keltner Channel top at $464, ATR $3.70 means we can make moves to the upside and downside. A healthy pullback is good for the overall market and can assist in continued moves to the upside
After another week of making all time highs it would be healthy for some retracement, one of my favorite tools for this is Fibonacci. I plan on getting more aggressive as we get pullbacks as buying opportunities.
QQQ – more all time highs, however the daily candle is a reversal candle, it might make sense to look at the pullback support area that is the weekly and daily Keltner Channel top at $390, ATR $4.65 means we can make moves to the upside and downside. A healthy pullback is good for the overall market and can assist in continued moves to the upside
IWM – I called this last week and see even more room to the upside we could stand for a pullback at the weekly top around $241.80. We have an ATR of $3.58 that can really help us move on up – This is still one of my favorites, look for individual names to rally
Here are the ADR’s of interest this week, $JD, $BABA, $PDD – I see some strength taking hold in these names and like JD the most, it has some serious bullish divergence and should play nice this week.
Again, I remind you that using FlowTrade yourself to monitor the algo and dark pool trend is going to give you the most confidence, if you check them weekly and study their behavior. It will take time for you to learn. Don’t trade while you are learning and don’t let a tool confirm your bias, or keep you in trade that isn’t panning out. Risk management is key for any trading strategy. I have seen some folks rush into using the software without really exercising patience. Seek to scrutinize everything. Review the sector ETFs, commodity ETFs, Individual stock leaders and see for yourself, and pick the strongest divergent or confluent stocks you can find to trade.
FlowTrade should be an important part of your setup going into the end of the year. Get your Free Trial HERE