UPSTOCKS WEEKLY NEWSLETTER
Broad market analysis :
SPDR S&P 500 (SPY)
In the last report I wrote " The SPY managed to break the 194.41 level and close over its long-tern upward trend-line , from this point I'm expecting the SPY to test the 201 level as long as the SPY keep trending over the green trend-line (194.8) ".
The SPY kept up trending as expected testing the 199.76 level.
On Friday the price made a neutral to bearish price action as it made a spinning top with close lower than the open , we could see also a broken upward trend-line.
the SPY could pullback from here to re-test the 198.78 level. ( breaking this pivot the spy should pullback further to 198) , However breaking the 199.5 pivot will result further upward movement ( 201 as a target).
*The signal we got on Friday is neutral-slightly bearish .
In the last report I wrote " The IWM broke a downward trend-line as it started to respect the 13 SMA ( the aqua blue MV) as I'm expecting a test of the 115.28 as a target , Breaking that level it could form a triple top formation at 120.22."
The IWM is currently trending above its 100 and 150 SMA which is bullish as if it will keep finding support at the 114.36 level I would expect further upward movement and the 120.22 should be tested as it was stated last week.
Watch-list and Swing trades setups :
Swing trade setups :
The price showing a possible accumulation in the last 2 days.
Entry : 2.95-3
Trigger : 3.09 ( breaking It )
Target : 3.3
The price is trending in an upward channel in case it break the upper channel it could spike and result a test of the 150 sma .
Entry : 11.5
Stop loss : under 11.23
Trigger : break of the 12.19 ( also as a first target)
Target : #1 14
The price broke a downward trend-line .
Entry : 16.42 ( wait for a reversal)
Stop loss : under 16
Target : 18.20
*The price should pullback from here to 16.2 wait for a clear support and reversal.
Watch-last (day-trade) :
( bounce off support) - The stock has two potential supports from here - wait for clear support and reversal.
First support : 2.42 Second support : 2.33. ( which are also our entry in case we notice that one of these levels are providing support to the price) .
Trigger : 2.49
Target : 2.61
(potential break-out ) : the price could have found support at the 7.72 level as in case it breaks 8.5 , it could spike much higher. (9.9 target)
Entry : 7.72-7.79
Stop loss : under 7.64
Trigger : 8.5 ( also as a first target )
Target : 9.9
(potential support play)
Entry : 4.49
Stop loss : under 4.4
#1 target : 4.84
( potential support play) : the 150 SMA acting as support .
Entry : 1.04-1.05
Stop loss : under 1.02
trigger also as first target : 1.25 ( in case 1.25 will be broken the price could spike much higher.
( setup was sent ) (22/8)
Watch if the 9.51 pivot will act as support .
Entry : 9.51 ( wait for reversal)
Stop : under 9.3
Trigger : 10.74
( bounce off support and potential break out) : watch if the 6.12 will act as support ( if not 5.5) as if the price break the 6.69 it could spike much higher .
Accumulation scanner :
OGXI : my scanner is noticing accumulation in these levels
CLSN : my scanner is noticing accumulation in thee levels
ALTI : my scanner is noticing accumulation in these levels
UURE : watch if the 2.9 breaks as the price could spike much higher.
Other stocks in our watch-list :
CERU : watch the 4.35 support .
HTBX : watch the 6.35 support .
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