iBankCoin
Joined Jan 27, 2008
7,178 Blog Posts

Trade Of The Week: $FB Facebook

I’ve been watching this setup in Facebook develop over the last month and it looks like a move may be imminent for the stock. I recently took a position after their recent earnings announcement, which actually saw growth in user engagement, and overall a solid report. See my Exodus screen shot below for details on buy:

The stock is so hated on Wall Street due to privacy concerns along with potential government regulation, that nothing seems to move the needle. It also doesn’t help that Zukerberg has been unloading his shares here, but can you blame him? He is not a trader, and he has his own planned agenda, but it has not been a positive for the stock. You can hear the frustration in traders, on Twitter, on how the stock has been stuck in a range for months on end. Well, I think that changes this week, or at least has the potential to change.

Nothing in certain in this game of trading and investing, so never put your eggs all in on any particular stock. But, the current price action gives us a favorable risk/reward, one that I have no problem taking.

We were very close to a breakout in the stock on Friday, but option expiration seemed to play a hand in keeping a lid on the stock at $195. That’s ok, the stock now gives us a clear entry should we see a move above Friday’s high. The daily chart also show us an action point should price get above the declining trendline, see chart below:

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Should the stock reverse here at the upper trend, the trade could be busted, and Zuckerberg wins in selling his shares up here. Indeed, Thursday’s low now becomes the crucial area to defend. If price falls below $191.45, I’ll be out with a small gain in my common shares.

If we see volume with a strong move Monday, I’ll likely add some short dated options. A big trade is developing here…

Keep it on watch.

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I Am Now A Disney Plus Subscriber

I’ll start the post by saying I am long $DIS stock, and have no plans to sell in the immediate future. Some stocks you trade, some you hold, this is one you hold.

Right upon logging in to the service I knew $DIS had a winner on its hands, unlike $AAPL plus, which is pure garbage. The selection from $DIS was a lot better than I anticipated too. Classics after classics with Endgame front and center. The joy from my two daughters as they browsed the catalog of movies. How lucky are they? Any Disney classic at their fingertip, no waiting, just click and watch.

My 4 year old pulled up Mickey Mouse Clubhouse on her iPad, my 8 year old watched Decedents on her iPod, and of course I pulled up endgame on my iPhone. From each device, we were able to instantly stream to the TV by using the airplay function. Pretty simple, and pretty awesome.

I’ll even go as far as saying this service smashes $NFLX, for now anyway. Stay away from $NFLX. $DIS is a name you buy on dips if you missed our buy near $130. I wouldn’t buy it up so big here, but on dips it is worth adding to the portfolio.

-Satisfied Disney Plus subscriber

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Declaring Victory

I’m all out of my $TSLA shares today @ $355. My latest purchase was @ 185 on my birthday, see HERE. I wanted $420, but feeling a bit piggish here, so I locked in my profits.

Solid trade all.

Side Note: Watch $FB here, above today’s high and we may begin to push through $200.

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$TSLA The Gift That Keeps Giving

$TSLA shorts were in the vice grips once again today as Jefferies upgrades the stock to $400. A member asked me if I was going to take profits on my shares after this large move? I told him it is tempting and it’s likely the prudent thing to do, but I will continue to press my luck here.

As we start another week, let’s get back to our momentum screen, which has $TSLA leading the pack. $ROKU is also on the screen and is putting up a fight after missing expectations in their latest quarter. And, $TDD, how can you not love that move today? The chart is ripe for higher prices there. Here’s a look at today’s full screen: CLICK HERE FOR CHARTS

$ACAD made fresh highs here, and is worth a shot over today’s high. $PTON wants to squeeze, and a very good friend of the site says to watch $TWOU here, so that’s what you should do.

See you guys at the open…

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Weekend Top 50; Go Tigers!

It was a week full of earnings and back and forth jabber on the China trade deal. It was also LSU/Alabama hate week. Through all of it, the indices forced their way to fresh-all time highs, and closed well to end the week.

Inside Exodus, stocks are ranked by a combination of their technical & fundamental score, we call this the hybrid score. With stocks at fresh highs again, here are your top ranked names: CLICK HERE FOR THE TOP 50.

This list changes daily, members can bookmark the link HERE.

Have a good weekend! Tigers over Alabama 28-24.

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$TSLA Charges Higher And Finds It’s Way Back To The Momentum Screen

$TSLA has been on fire since the summer lows of 2019, one can’t help but to think the squeeze is on all the way to the magic target price set by Elon himself, $420. Fintwit, meaning Financial twitter traders, were out in masses calling out the breakout today. Let’s see if the momentum will carry over into tomorrow’s session, the chart definitely supports a move higher from here:

Other than TSLA, momentum has been hard to spot this week. Biotech has been notably strong over the last week, but can be a hard industry to trade. Oil names started the week strong, but took a nice pause today. And, does one really buy $AAPL up here @ $260?

So where do we go from here in the overall market? Is it time to pullback to lower trend support levels? or will the market continue to squeeze higher? I’m waiting for some key tells, but so far I got nothing.

Earnings season is in full swing and a trade deal seems to be delayed another month, continue to watch for landmines here. As for what worked today, here is the momentum screen imported from Exodus: CLICK HERE FOR CHARTS.

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