So this is a weekly series I do - I spend a bit of time looking through stocks I follow and compile a list of 5 stocks that I think will be good swing plays for the week (sometimes I hold it for longer than a week, but typically when I cover them I believe they are good entry points). My plays are based heavily on technical analysis, but also incorporate fundamentals to get a better understanding of the bigger picture of the stock/company.
So before I start, if you don't want to read this wall of text, I have the video posted here: https://youtu.be/bErwfb7Ec-k
So let's get into the list:
1 - Amazon: Pretty much been moving sideways for this past week and consolidating (which it really needed after the wild swings its been having both to the upside and downside). This past week it's been hovering around its 20 day MA and held it well, and on friday we saw a small spike - but HUGE volume come in. It's also looking as oversold on the stochastics, so IMO this is ready for another move up (as long as volume continues this week and there's good news on the tax reform front).
2 - Tencent: This is one of my favorite stocks this year, and I have a large position in it for the long term, but I also think it provides great opportunity for short term as well. It respects technicals well, and right now you can see it's hovering around the 20 day MA, but still holding its uptrend support. Volume has been huge the last few weeks in this stock, and I think this is a great longer term play, but the current level it's at right now provides a good entry point for it IMO.
3 - Alibaba: Suffered a huge selloff when tech sold off, and got his especially hard because of some bad news coming out of China (but this was overplayed IMO). It's currently holding its uptrend support well, and we had a very bullish candle on friday with volume picking up. It is hovering around its 100 day MA as well, going above and below it the last couple weeks, so this is acting as a critical indicator for the stock. As with Amazon, if we see volume pick up going into this week, I can see Alibaba moving higher and start filling some gaps it created.
4 - Apple: This is another huge tech giant who will benefit from the tax reform. It had a good move early in the week, and then moved sideways as we awaited news on the tax reform. On friday, we had huge volume come in, and we broke past a key resistance level on good volume and closed above it. Now going into next week, there's another resistance level it needs to pass, but if volume continues as it did on Friday, we will see this break it without problem and then make a run for new ATH. Chart overall looks bullish and as long as there's no surprises this week, Apple should have a good one.
5 - Autodesk: I don't want to go much into this on here, but I cover my reasoning in the video. I loaded up on this position in the last week and have a bunch of calls on it - I'm very bullish here!
Hope you guys enjoy this weekly post I try to do. If you enjoy it, take a few seconds and drop a like on the video to show some support. And as always, please share the stocks YOU are watching this week. There are literally thousands on the NYSE/NASDAQ and I can't possibly look at every single one, so if there's ones you think we should take a look at, post them below. Happy trading!
Submitted December 17, 2017 at 02:43PM by blackdragon1299 http://ift.tt/2j76wVE
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