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4 Stocks I’m Eyeing This Week


We have mostly red arrows around the world after a big four-week rally.

Asia still doesn't act well after China's NBS PMI's fell short.

Hong Kong's Q3 GDP report was soft.

Developments in Russia/Ukraine are also weighing as Moscow withdrew from the grain agreement.

SPX futures are -24. We hit 3905 Friday. I'd think a bit of digestion ahead of the Fed Wednesday makes sense. Holding 3862ish would be very constructive. 3803-3806 is the line in the sand for the active bulls and this active sequence.

Now let's go through 4 names I'm watching:

AAPL responded very well to earnings. It gave us a way to be long as it cleared $149 to see $157.50. There is news that Foxconn will shut for Covid, but that shouldn't change much. A little digestion above $152.50 should be constructive. Holding $154ish would even be better.

AMD reports after the close tomorrow. It's been pressured all year. We uncovered the H&S pattern helping us stay out of the way. I'm long a little into today. We'll see if it goes green with pivot resistance at $62.72. If not, I'll be out.

COIN is after the close Thursday, We had a decent trade last week. I bought some back on Friday. We'll see if it gets any more play prior. It needs to hold $5=69 and perhaps we can add over $73.72.

TSLA gave us a very tradable move last week with a Red Dog Reversal at $202 and then another entry when it cleared $213.50. It hit the $233 area. For this week, we'll see if it can hold Friday's low of $216 or higher for an additional move towards $250. But we'll take it somewhat slow. I'll be active here if I get the signals.

Positions Disclosure:

*As of 8:20am ET October 31, 2022

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