*Update Moving forward, watchlist released for free every Sunday night will only list the stocks that I am watching. Entry/exit zones (along w/ charts) will be shared occasionally with individuals who are signed up for the newsletter. If you're not on my mailing list; sign up below. It is free.
Tesla Motors, Inc. (TSLA) While I think the valuation currently placed on this company is somewhat outlandish; it's hard to ignore last week's price action. $GS has a $250 price target on the stock and despite a recent offering priced around $215; the stock has done nothing but increase in price. Friday, we saw a heavy trading day with volume to the tune of 9 million. If the current share price can hold, I see near term upside. Next stop? $231.
Applied Materials, Inc. (AMAT) Stock gained some over 13% on Friday after reporting earnings. I am looking for a pullback and I prefer to short this stock. Look to see how the stock acts on Monday. If sustaining these currently levels seems to be tough; I expect a pullback.
Dick's Sporting Goods Inc. (DKS) "While not at 52 week lows, this is hovering right above the level of break out back in Feb. If the stock can manage to not dip far below $40, this can begin to trend back up. There is some resistance at $42; but if this stock can hold, $40, get back into its channel above $42; I think we can see, $46-$47. *company reports earnings on May 19th* "
I wrote the above on last week's watchlist. We are holding $42. Closed very strong at $43.48. I wouldn't be surprised if this pulls back a little but I think it gravitates towards $46-$47. Stock currently has momentum on its side.
Glu Mobile, Inc. (GLUU) It's that time of year again where Glu Mobile is on my watchlist in anticipation of potential upside. This one really is a wait and see approach. If you've followed me in the past; good or bad; I typically argue that this stock rises and falls with the success of its games. They are at it again and recently launched Britney Spears: American Dream. The game hasn't seen the type of traction we saw with Kim Kardashian: Hollywood or even Kendall and Kylie. But the fact that it's currently sitting at #4 on free downloaded games and #46 in Top Grossing in the App Store, says we need to pay attention. Drifting higher in rankings will only bode well for the stock. Further, from a TA perspective; we aren't that far from 52 week lows, making it a favorable buy from a R/R perspective. Continue to watch Britney's climb in ranks; if she climbs the charts; history says the stock will climb along with her. Furthermore, tonight is the 2016 Billboard Music Awards; hopefully we can all remember why we fell in love with Britney to begin with.
Also watching $SPY
Recap $M- flat $DKS- +7%
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This watchlist is for information and illustrative purposes only. It is not, and should not be regarded as investment advice or as a recommendation to buy, sell and/or hold any securities mentioned above. All investments carry risk, there are no guarantees. Investors should consult with their advisers with respect to their investments.