Straightforward watchlist today. Not every day or week will have clean setups like we just had. Many stocks made big moves and yesterday they decided to pull back some, which is healthy in any uptrend. I was reviewing charts last night and don’t see any screaming setups at the moment. Everything seems just a little extended.
Reminder: It’s tax day but deadline has been pushed back into May.
Let’s start with a few simple index charts.
BA – simple here, we need it to stay above 8EMA, and 20SMA. This will build momentum for another leg higher. Above 260 zone is a trigger that should lead back to it’s most recent highs.
TSLA – no major thoughts/ideas here right now. The move / target was reached, and I closed my swing as indicated near open yesterday. It ended up falling from it’s highs down to 728 low of day. Pretty amazing. I did scalp some puts at the open right after I sold the call swing which paid nicely. Had I held, of course, would’ve been a much bigger payday on those puts. No real read on this one right now, except we are going higher over time. Trendline needs to be broken for next leg up.
SQ – worth watching again after it made a similar move to TSLA. we needed that pullback, no stock will go straight up in a line (except HD, lol)
AAPL – all dips on this are likely good for long swings. if taking, give time behind the options. could continue to run into Earnings report April 28th