Oct 25th-29th, 2021
Some weekly picks from the $XLP sector …
Before we look at this week’s picks, let’s check in on the picks from the first week of October, shall we?
$ATVI (Activision Blizzard)
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$ATVI is near the first Target zone, but remember, another Target / time to take some profits is when it crosses that 70 RSI, so don’t forget to keep an eye on that. Also don’t forget to move your S/L up to protect those gains!!
$GBTC and $ETHE
The other two picks from that week were $GBTC and $ETHE and we all know where crypto is right now 🚀
$GBTC crossed 70 RSI and is now taking a dip.
$ETHE didn’t quite make it to 70 RSI before it’s dip, but remember, Ethereum always seems to follow Bitcoin so that would’ve been an indicator that a drop for it was also coming.
$JKS
Jinkosolar also has had a nice steady climb. It just bounced off the 70 RSI territory, so keep a watchful eye on it and move your stops up to protect those gains!
And now for THIS week’s Picks:
All of this week’s picks are in the Consumer Staples industry, and as you can see $XLP is on a nice rise and is still only around 60 RSI.
$KSS (Kohl’s Department Store)
What’s nice about this setup is that it’s under the 200 SMA, which we know price that’s on the rise is attracted to like a magnet!
Also notice the large Gap Down from the end up September. When price breaks up to that level it should fill that gap! you can see it even tested that Resistance level today.
Price closed way above the 20 SMA forming a nice Stage 1 Breakout. Be cautious on Monday as there’s a good chance for an early morning dip.
HOMEWORK: find the Targets and S/L for this setup.
$KR (Kroger brand)
You can see on this chart that price tested the 200 SMA but in a different way. It bounced off of it and found Support at that level.
Price closed above the 20 SMA forming a nice Stage 1 Breakout. Again, be cautious of an early Monday morning dip and remember to scale in to play it safe.
HOMEWORK: find the Targets and S/L for this setup.
Additional Homework: Also check out $CL and $FOUR
WHAT’S ON SALE?
If you read the last post, you would’ve seen that $JNJ, $PTON, $QCOM, $TGT, $UPS, $WMT, and $YETI were all “on sale” buys under 30 RSI and have made excellent strides since then. Here’s a few more under 30’s for ya…
$IBM — IBM Computers
$LOCO — El Pollo Loco
$SHAK — Shake Shack
$SNAP — Snapchat
$MNST — Monster Energy Drinks
- As always, with stock under 30 RSI, you don’t want to catch a falling knife (look at $CHGG, it’s been falling since the last past).
- Remember, it’s best to wait until the indicators show it leveling off (look back on the chart and see where previous Support levels were for potential bottoms).
- Don’t worry if you don’t buy the exact bottom. It’s better to buy after it bounces than to buy and watch it continue to freefall!
Trade long and prosper!
🖖
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