Weekly Watchlist 01.11.2021

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Stop loss: 87.40

Price target: 99.00-100.00

Analysis done on two hour candles. Things are getting better and better for online sports betting companies as more states are beginning to show a softer approach towards them. Most recently, the Governor of New York said that he supports online sports gamboling, which is going to boost companies like Penn National. New York is not the only state that’s taking this approach, many other states have already legalized it, as well as Canada too. This field is a very lucrative one and PENN is in the middle of the action. The company’s performance since the market crash has been incredible and buyers continue to add to their shares. The stock most recently ran to all time highs, but it couldn’t sustain and ended up pulling back down, bouncing at the 80.00 support. Now that the stock has bounced and shown interest again, it may be a perfect time for entry before it attempts another all time high run.


Stop loss: 55.70

Price target: 69.00-70.00

Analysis done on hourly candles. The heat is on ladies and gentlemen! NIO brought forever its new electric sedan on NIO day this weekend, and they also announced a new partnership with NVDA for autonomous driving. NIO’s exponential growth over the last year is well justified by their numbers of deliveries and innovative ideas. The Chinese EV makes became a living legend overnight as more and more analysts took on bullish ratings towards it, causing its market cap to skyrocket. In terms of their chart position, the company closed the week at an all time high, just like its competitors TSLA. TSLA and NIO have a history of moving in correlation to one another so it may be a good idea to keep an eye on both stocks when trading this week. If NIO opens much higher than the target entry, DO NOT CHASE IT AT OPEN. Your best bet is to allow the stock to cool down and give a more fluid chart for entry on a pull back instead of an incline.


Stop loss: 20.30

Price target: 23.00

Second PT: 24.30

Analysis done on daily candles. Although Chinese companies are experiencing some turbulence on the American stock market due to new regulations from the SEC, we’re finding that the headlines aren’t impacting them for longer than a day or two before they push back into healthy trading ranges. HUYA is a company that can be best described as the Twitch of China. The gaming industry is by not doubt growing massively due to these streaming sights, and China is a perfect target market for HUYA. Looking at their last quarter chart performance, the stock has been downtrending for some time, however are beginning to show buyers right above the 20.00 support. The stock also formed a double bottom pattern at 18.00 that pushed it to breakout above the channel down pattern indicated on the chart. This move could be the start of a full on reversal for this company and it may be the perfect time for entry.


Stop loss: 39.00

Price target: 50.00

Second PT: 55.00

Analysis done on hourly candles. Blink Charging is another dominant name in the electric vehicle charging markets that has potential to see new highs this week. The company’s most recent agreement is with the EV maker, Lion Electric. BLNK signed an agreement to provide charging stations for schools that use Lion Electric busses, which could be the start of something big for both companies. With all the focus on EV this week after NIO Day and TSLA’s insane run, BLNK may follow the move that we saw happen to PLUG and push to a new 52 week high. News and sector movement is not the only thing to focus on of course. Looking at their chart, BLNK is currently trading at the top of a channel down pattern and is displaying bullish signals that could lead it to a breakout. Our primary focus is for the stock to push above 45.00 and consolidate between that price point and 47.00 before pushing to our indicated price targets.


Stop loss: 41.70

Price target: 48.00-49.00

Analysis done on daily candles. 2U has found itself in a perfect position for the world’s gift towards online education and learning. The company focuses on providing education technology for nonprofit colleges/universities and they’re beginning to see a boost again now that colleges is starting again. The company’s most recent earnings displayed narrower losses and they also topped their revenue, which is a good sign for their 2021 performance potential. In terms of their chart position, 2U broke out from a bullish flag pattern on Friday with strong volume. The stock being above 40.00 puts them back in a bullish trend as they made a higher high above their downtrend. Although the company’s chart history over the last three years has been downtrending, Covid-19 may have supercharged their business so these guys are worth watching over the next year, they may be headed much higher than the price target.


 Our full watchlist is exclusive for our premium members. Click the link below to join our community. 


The stocks posted are the preliminary stocks and set ups we’ll be watching this week. All price points are subject to change based on market performance and sector health. Please do your own research and analysis on these companies/charts before taking on any set ups. Trade at your own risk and as always, good luck! Let’s have a fantastic week.