iBankCoin
Joined Jan 27, 2008
7,403 Blog Posts

Weekend Momentum Scan

So China saved us on Friday and we finally got the $100 roll for $BABA. Judging by $KWEB, a popular ticker on Friday’s scans, I’d venture out to say we’re just getting started….

Running a quick momentum scan at the close Friday, here are the names I selected to watch on Monday. All stocks traded above average volume and have ripe technical setups. This is a recipe I use over and over again inside Stocklabs— I use my scans to find the volume– then find the best technical setup to trade. The following are on watch this week…

Have a good weekend all!

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100 ROLL ON DECK

$BABA is fresh on the scans this morning along with $NIO and $XPEV. $BABA technically looks poised to hit $100 sooner than later and I’m looking for calls in here today. Here’s a look at your morning Stocklabs scan;

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The Very Best Charts

This weekend I decided to queue up a quick screen to find the very best technical scores within the Stocklabs software. Below you can find my findings, which some may surprise you. We’ll start of with JNJ…

Despite giving people cancer the stock still has one of the best technical scores around. And, if you’ve been looking for alpha the last few days as the market declined, JNJ was the play:

The banks also have had a few good weeks, and I was pretty surprised to see $WAL with a tech score greater than 4. $BAC also made the list, along with $SUPV

Oil was the standout in this weekend’s screen as hurricane season is just underway. I believe there is an area of interest right now that might land inside the Gulf and possibly halt production. Whatever the case, here are some good looking charts within the industry:

Indeed, their has been a rotation out of tech and into banks, oil, and staples. For the current full list of top technical scores, I’ve imported the list to finviz for your viewing pleasure: CLICK HERE

Member can bookmark the top technical scores HERE.

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$HOOD RICH

$HOOD is back on scan this morning and worth highlighting due to it’s massive volume profile. Before we get into the chart, here are some of today’s movers experiencing above average volume:

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Now back to $HOOD, which we know is trading above average volume thanks to the scan above, shows a massive volume void that could potential take this stock to $33/share. It’s just now getting into open space, and worth watching every time it lands on scan:

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GOOGL META NVDA BABA

The large caps are on the move this morning thanks to a favorable CPI number. Many of the names we were watching are finally breaking to the upside. META finally gets through $300 and is sprinting, $BABA looks like a slam dunk for the $100 roll trade, NVDA is tearing apart any short seller who bets against it, and $GOOGL looks to be just getting started.

I took some $GOOGL options this morning. Good luck trading all…

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$RBLX BREAKOUT IN PROGRESS

$RBLX is on the move this morning breaking some key levels on the charts. There is a nice volume pocket above that could suck this stock higher, closer to $60-$70. But, for now let’s enjoy the above average volume day, and fill the gap to the upside.

Long $RBLX 

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