Week of 05/03/2021

By iamtez -

Welcome back everyone. Hope you had a great weekend.

 

I see very few good setups for this week. I know futures are up as of now but I think if we do get a green open, I would be looking to go short in the near term. I do have 3 stocks that look good on the upside though.

 

Below are stocks that look good to me for UP move.

 

TGT May 07, 2021 210c

Chart starting up and a move back to ATH seems likely soon.

UAL May 07, 2021 55c

Nice looking chart and had a good bounce from support after earnings drop.

WMT May 07, 2021 140c

Chart turning up. A move to 142 seems likely in near term.

 

Below are stocks that look good to me for DOWN move.

 

ADBE May 07, 2021 505p

Chart starting to turn down. If 505 breaks, then 500 should come quickly.

CRWD May 07, 2021 205p

Chart turning down. Test back to 50dma seems likely soon.

MA May 07, 2021 375p

Another one for which a test back to 50dma near 370 seems likely in the short term.

MDB May 07, 2021 290p

This one looks like it might test 200dma and if that breaks, then a move to 260 seems likely.

 

ALWAYS REMEMBER TO USE STOPS AS PER YOUR APPETITE TO HANDLE LOSSES.

 

Disclaimer: The views and opinions expressed here are my own. Before taking any financial decisions based on these, please do your own due diligence.

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