Monday, April 8, 2019

Breakout Stocks to Follow this Week


Celgene Corp. CELG, $95.00


CELG, one of my favorites stocks from the Health Sector XLV for this week. In news, is near its mega-merger with Bristol-Myers BMY, that could give volatility to this stock. Technically, last week broke its 3-month consolidation phase (show in the horizontal yellow channel) with a typical breakaway gap. Today closes at $95, which is also its year-resistance, so it's an important level to watch. Need to confirm this week this gap, and if so, begin its rally mode. 


Roku Inc. ROKU, $60.73



The daily chart of ROKU shows a symmetrical triangle, a classic pattern that could break up or down, it's always undefined. Probably hit by the new AppleTV+ streaming service, this stock sinks today 4.2%, breaking the lower line of the triangle and approaching the stock to its key SMA50 average and the Ichimoku cloud. I put this volatile stock in my radar, waiting for its behavior next days before shorting it.





Twitter TWTR, $34.86



As you see in its daily chart, the $35 level is a pretty resistance to overcome for TWTR. Its four previous touches and rebounds give confidence to this level, and today again touches it. With the stock over its SMA200 average, a strong overcome from this level only could means the beginning of a bull rally.



SPDR Oil & Gas Explore & Production XOP, $32.03


Not properly a stock, XOP is a popular ETF that follows oil and gas. It broke today its 3-month consolidation channel (in yellow), in which is ranging since early 2019. And did it with nice volume and signaling a probable golden-cross (SMA50 average above the SMA100 or SMA200) for next days. I'm following this week, with an eye in the EIA weekly report on Wednesday, and the other in gas low prices, waiting for a turnaround in its bear race.

.