WiseTraders Weekly Watchlist: August 19, 2024 – August 23, 2024
Thursday’s market surge transformed bearish trends into bullish breakouts, with many stocks jumping above their Key Levels. This optimism often carries momentum, especially for stocks with positive earnings reports. With so many stocks breaking through important Key Levels, we need to be ready for tradeable setups, but price consolidations are still crucial. The market might remain choppy, making clean setups challenging. Let’s stay open-minded and evaluate opportunities as they arise, always considering the broader market context. Here are four stocks to keep on your radar this week:
AKAM (bullish) – A classic bullish post-earnings setup with positive OVI and other Big Money Footprints including visually recognisable Shrinking Retracements. Potential resistance at the 200-dma, which is a logical level to protect profits.
CF (bullish) – Bullish post-earnings momentum has pushed this stock above both its Key Levels to now form a classic bullish post-earnings gap up consolidation. Looks promising on a break above its recent high of $82.
EVH (bullish) – Another bullish post-earnings setup slightly sticking at its 200-dma. So, ideally this one needs a further push and consolidation above this level.
WCC (bearish) – A potential waterfall candidate following a bearish earnings and subsequent pullback with shrinking volume. All the Big Money Footprints are in evidence here.
