Proven Strategies for Pre-Market Stock Planning
Table of Contents
- Introduction
- Morning Watchlist Overview
- Yesterday's Recap
- Pre-Market Analysis
- Stocks to Watch Today
- 5.1 Tesla
- 5.2 Square (SQ)
- 5.3 Apple (AAPL)
- 5.4 Snowflake (SNOW)
- 5.5 Costco (COST)
- 5.6 CrowdStrike (CRWD)
- 5.7 Zscaler (ZS)
- 5.8 Monster Beverage Corp (MNST)
- 5.9 Etsy (ETSY)
- 5.10 Zoom Video Communications (ZM)
- Conclusion
- Frequently Asked Questions (FAQ)
Morning Watchlist Overview
Good morning everyone! Today, we will be discussing the morning watchlist in detail. We will start by recapping yesterday's trades and analyzing how they performed. Then, we will move on to the pre-market analysis and identify potential stocks to watch for the day.
Yesterday's Recap
Yesterday was a successful day for many trades. We discussed stocks like Boeing (BA), Moderna (MRNA), and DocuSign (DOCU), which all saw significant price movements. For example, Boeing bounced back from oversold levels and had a strong rally to hit new highs. Moderna also had a big day, surpassing all price targets. DocuSign went absolutely insane, reaching new highs as well. We also discussed other stocks like NVIDIA (NVDA) and Snowflake (SNOW), which provided trading opportunities. Overall, it was a profitable day for those who followed the watchlist.
Pre-Market Analysis
Before we move on to today's watchlist, let's take a look at the pre-market situation. We have identified several stocks that have potential trading opportunities based on their technical indicators and recent price movements. These stocks include Tesla, Square (SQ), Apple (AAPL), Snowflake (SNOW), Costco (COST), CrowdStrike (CRWD), Zscaler (ZS), Monster Beverage Corp (MNST), Etsy (ETSY), and Zoom Video Communications (ZM). Now, let's delve into each stock and discuss their prospects for the day.
Stocks to Watch Today
5.1 Tesla
Tesla is currently range-bound and showing signs of a potential breakout. It has a four-hour slingshot setup and is above all EMAs. Moreover, Tesla is in a squeeze on the daily chart. To go bullish on Tesla, we need to see a break above $664. Once it breaks this level, it has the potential to continue its upward momentum. The key price targets for Tesla would be $680, $700, and $720. However, considering the upcoming earnings report, it is essential to exercise caution.
5.2 Square (SQ)
Square had a significant rally yesterday and is currently range-bound. It looks bullish on all time frames, with the one-hour, four-hour, and daily charts all stacking up nicely. If Square can break above $248.25, it has room to move towards $250, $252.75, $254.75, and potentially $257.64. The stock is also showing signs of a squeeze, adding weight to the bullish thesis.
5.3 Apple (AAPL)
Apple is forming a bull flag pattern on various time frames, including the one-hour, four-hour, and thirty-minute charts. The stock is above all EMAs and has the potential for a breakout. A key level to watch is $147.35. If Apple breaks above this level, it could push towards $149.50 and possibly higher. Additionally, the stock has a potential price target at $150 based on the duplicate bull flag pattern.
5.4 Snowflake (SNOW)
Snowflake broke out of a falling wedge pattern yesterday and experienced a significant rally. Today, we want to see a break above the pre-market high at $259.25. If Snowflake can clear this level, it has the potential to reach $265.31, $268.81, and $270. Additionally, the stock is showing signs of a squeeze on the daily chart, indicating the potential for further upside.
5.5 Costco (COST)
Costco had a strong rally yesterday and is currently at all-time highs. It looks bullish on the daily, four-hour, and one-hour charts, with the EMAs stacked up nicely. A break above $418.07 could lead to a move towards $419.50 and potentially $421. The stock also has resistance levels at $420.90 and $421.98, which could act as targets for bullish trades.
5.6 CrowdStrike (CRWD)
CrowdStrike is forming a falling wedge pattern, and a breakout could provide a trading opportunity. It is currently consolidating within the wedge, and a break above the upper trendline could trigger a move higher. We recommend setting an alert for a breakout above the wedge. If it occurs, we could see a nice move towards $230 and potentially $234.75.
5.7 Zscaler (ZS)
Zscaler is showing a lot of promise today. It has a clear falling wedge pattern on multiple time frames, including the daily, one-hour, and four-hour charts. A break above $231.50 could provide an excellent buying opportunity. Potential price targets for Zscaler include $235.50 and $237. The stock is also showing signs of a squeeze on the 10-minute and daily charts.
5.8 Monster Beverage Corp (MNST)
Monster Beverage Corp has caught our attention as a potential swing trade. It has a similar setup to Apple with a falling wedge pattern on the daily, one-hour, and four-hour charts. A break above $95 could indicate a bullish move. Price targets for Monster Beverage Corp include $97.50 and $98. However, it's important to note that the stock reports earnings on the 5th of August, so caution is advised.
5.9 Etsy (ETSY)
Etsy broke out yesterday and is currently showing bullish potential. If it can break above $196.50, it could see a move towards $198.75, $200, and potentially higher. The stock has resistance levels at $199.06 and $201.45, which could act as targets for bullish trades.
5.10 Zoom Video Communications (ZM)
Zoom is currently consolidating within a symmetrical triangle pattern. A break above $369.50 could indicate a bullish move. However, if Zoom remains below this level, there is a higher chance of a continuation of the downtrend. We recommend waiting for a clear breakout before considering a trade on Zoom.
Conclusion
In conclusion, today's watchlist offers several potential trading opportunities. Stocks like Tesla, Square, Apple, and Snowflake have the potential for bullish moves based on their technical indicators. Additionally, Costco, CrowdStrike, Zscaler, Monster Beverage Corp, Etsy, and Zoom also warrant close attention. However, it is essential to exercise caution and wait for clear breakouts before entering trades. As always, remember to manage your risk appropriately and adapt to changing market conditions.
Frequently Asked Questions (FAQ)
Q: Which stocks performed well yesterday?
A: Yesterday, stocks like Boeing, Moderna, and DocuSign performed exceptionally well. Boeing bounced back from oversold levels, Moderna surpassed all price targets, and DocuSign experienced significant price movements.
Q: What stocks are on today's watchlist?
A: Today's watchlist includes Tesla, Square, Apple, Snowflake, Costco, CrowdStrike, Zscaler, Monster Beverage Corp, Etsy, and Zoom Video Communications.
Q: How can I identify potential trading opportunities?
A: You can identify potential trading opportunities by analyzing technical indicators, such as EMAs, patterns like falling wedges or bull flags, and price movements. It is important to conduct thorough research and consider different factors such as volume and news catalysts.
Q: Is it recommended to trade all the stocks on the watchlist?
A: It is not necessary or recommended to trade all the stocks on the watchlist. Each trader should carefully analyze the potential opportunities and select the ones that align with their trading strategy and risk tolerance.
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