7/07/2021 Watchlist Charts

7/07/2021 Watchlist Charts

 

7/7 Wednesday Watchlist

 

$SHOP – Nice breakout from a bullish pennant pattern on some volume, after a period of consolidation from the most recent bullish run. Over 1555, SHOP can be set up to see 1575, 1616+. Must hold above 1535 as support.

 

 

 

$CHWY – Strong move today for CHWY! Closed right at resistance around 84.43. Over 85, CHWY has room to move up to 88. Must hold above 84 for support.

 

 

 

$SPG – Making it on the watchlist again due to it being the top bullish option flow for today. The chart may look ugly at the moment but SPG looks like it can bounce from these levels around 127. Briefly touched the 55 day EMA on the daily chart with a wick and bounced right back. On watch for a break above 128.

 

 

 

$ZM – Breaking out of a huge falling wedge! ZM has been on a downtrend since all time highs during October of 2020. It is looking like it is finally reversing trend and is at a key level of resistance. Over 403, ZM can be set up to see 415 and 426 next. Must hold above 396 as support!

 

 

Backburner – Keep an eye out on AMZN, We think it has room to move to 4000 by end of month, especially if AMZN decides to announce that the stock will split during earnings on 7/28.

 

 

 

 

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