C.O.I. For The Week Of 7.1.19


SPX: Went through 2933, but found footing at the .236 retrace. And now given the Trump/Xi meeting results are seen as bullish for the markets, we could get our final wave up to 3020, with a possible overshoot to 3100. 2913 is our new line in the sand for more upside. Below that and all bets are off.


AMAT: Has had a beautiful consolidation over its 200sma and looks ready to move. We'll be buying the next pullback after overbought conditions are relieved. We're looking for a run to 50.


AMD: Held the uptrend line and has had a nice bounce so far.And after the Trump/Xi meeting going well, this one just may rally. We continue to hold against the uptrend line.


AMRN: Held that uptrend line and has had a nice bounce so far. Continuation could get us our target of 20.50. A close below that uptrend line, and we get stopped out. But given the bounce, I do like the odds of 20.50 first.


BABA: Nice consolidation all week. Almost got the close above the 50sma on Friday. We continue to hold for our second target of 177. And given the Trump/Xi meeting, we could have a good excuse to rally there next week. If we get it, we reduce position to 1/4 and go for that 225.


CRM: Continues to consolidate above the 200sma. We believe it's a consolidation with more upside and continue to hold our position. It needs a close above that red downtrend line to get the upside going. And if it loses the 200sma, we will stop ourselves out on a close below 142.


CRSP: Is presenting a new entry setup. We got long back in April, but this consolidation has a very bullish look for continuation of the trend. Our next target is 54.


DBX: Consolidated all week and continues to get call buying. The set up is very bullish. A close above 26.50 confirms the breakout.


EA: Triggered long on Monday when it broke the triangle. We closed Friday near the week's highs. A very good sign for more upside next week. We continue to hold, looking for 112 first target.


GILD: Has been receiving big call buying of late. And currently wrestling with the 200sma. If it does break free, the upside could be lucrative. We bought on Wednesday, and are looking for 75. Stop is a move below 62.


QD: Though it pulled back substantially mid-week, (after we took profits, thankfully) It is still holding its uptrend line. And still has a very bullish look. Also, given the Trump/Xi meeting, this one could rally being a Chinese stock. Our target remains 10. Stop is at 7.02.


SNAP: A beautiful consolidation week. We knew this one would need it. It's why we sold calls against our long position (which are nice and green) We may need another week to completely work off overbought conditions, but once it gets moving again, we still like 17 as a target.


SPOT: is consolidating nicely above its 200sma. Our first target has been hit, but we hope it is gathering steam for another wave up to our second target of 161. A close below the 200sma will have us reconsider things, but for now, we look for more upside.


TSLA: One of the biggest put orders I've ever seen came into TSLA on Monday. We went short given the set up. It's finding resistance at the .236 retrace and the downtrend line. We are playing for a final wave down to 163/145. We'll get stopped out on a close above 232.


TWTR: Has become very interesting at this level. We are near the .618 retrace and right at the uptrend line established in December. A break above the downtrend line and we like this for a long with some upside explosion possibility.


X: Has been receiving big cal buying of late. And price movement is starting to look healthy. If it closes above the red downtrend line, we like this name long for a move to 20.


Z: continues to be a beauty. It had more consolidation this week, and is building steam to close that open gap at 55. We continue to hold looking for higher.

Charles Chao