Chipotle and Gilead, seen below on their daily charts, are two examples of stocks which have been apparently holding up well relative to the rest of the market amid the selling of late.
Headed into this week, the issue is whether these two succumb to market selling pressures and break lower, effectively becoming attractive short setups, or instead lead the way higher into a board market bounce.
I would go with the flow on these two, looking at them as quick shorts into a market swoon and also looking to scalp them long into a rally. Either way, I think there is a nice trade for both this week.
Drop me your top tickers overnight.
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FHCO (?)
CAT, could play for a bounce
XLE, actually ran up pretty good Friday morning till being dragged down by the market.
GOOGL, it it got rejected by 200ma during this bounce, short set up.
Cheers.