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NYSE - SwingTrading: updated WatchlistThe futures of the major market indices rose Sunday night which is a promising indication that the current little rally might turn into something bigger. Attached is the link to our updated watchlist: www.tradingview.com All stocks on our watchlist fulfill Minervini's Trend-Template criteria and are selected using IBD's CAN SLIM criteria. Also, they all have low risk entry points. Only the best stocks make it onto our watchlists. In the current bear market, it is highly important to look for stocks with increasing relative strength - those might be the leaders during the next bull market cycle.
CME_MINI:NQ1!Long
by JS_TechTrading
Breakout in MGPIMGPI is setting up in a potentially powerful breakout pattern. MGP Ingredients is a distilled spirits company. Alcohol stocks are often seen as defensive which would make sense why we are seeing money flow into these names right now. But the group as a whole saw a huge advance in 2020 during COVID lockdowns, so do not underestimate their power to perform. The sector as a whole is coming out of a Stage 1 consolidation base and is now trying to mount a breakout higher in Stage 2. MGPI is my favorite stock in the alcohol group, both in terms of fundamentals and technical setup. As you can see in the MarketSmith table I put on the bottom of the chart, sales and earnings have been skyrocketing at this company for the last four quarters. And gross margins are actually improving at the same time. The technical pattern is what William O'Neil referred to as a "base-on-base" pattern. You will notice a first base that formed from December-March. Once the stock broke out, it consolidated once again to form a second base that is now completing with very tight price action in a 4% range over the last two weeks. Base-on-base patterns are most common toward the end of a bear market when stocks break out but do not make their full advance because they are being held back by the general market. But once the bear ends (which it always does) these stocks can make powerful moves higher once their power is released. I plan to buy on a breakout above 103.25. And thanks to the tight pivot area, I can place a tight stop at 99.05 to risk just 4% on the trade. NASDAQ:MGPI
NASDAQ:MGPILong
by rossgivens
2
ENPH breakout (long trade)Enphase Energy is a solar stock setting up in a textbook breakout pattern. Pullbacks have shallowed from over 50% at the start of the bear market down to 14%. This volatility compression shows accumulation in the stock and a transfer from weak hands to strong. The numbers are tremendous on this one. As you can see from the MarketSmith numbers at the bottom of the chart, sales and earnings are growing at an extraordinary rate for the last four quarters. 2022 estimates are for a 45% increase in EPS and another 24% increase is expected in 2023. Relative strength ranks at 97/100 and the solar sector as a whole is the top-performing sector right in the market right now. A strong stock in a strong sector at the start of a new bull market is the formula for knocking down triple digit gains, and this stock could very well deliver. I'm looking for a breakout above the $220 level to trigger the buy. A move on increased volume would give me even higher conviction.
NASDAQ:ENPHLong
by rossgivens
4
TWI - Titan InternationalExtremely small company, under $1bn market cap. Not a typical 'tech growth stock' but they have really nice earnings growth and strong estimates for next year, as well. Purchased a quarter-sized position on Monday as the stock came off its anchored VWAP and was showing extreme relative strength compared to the overall market. The stock is climbing the right side of a nice base that began back in May 2021. Earnings coming up in a few weeks; will need to build a cushion to hold through.
NYSE:TWILong
by apaqu
3
Stocks To Watch This WeekMany names are holding up well in this market. Get a pen and paper because I go quickly and make the trade your own.. These names have shown good relative strength and accumulation volume and most are in the growth sector. This may give good risk/reward entries on some of the best names. Some of these charts still need to confirm their price action. This video is my watchlist. Most of these names are at or near all time highs or multi year highs. There are 34 total stocks on this list Many of these have IPO'd in the last few years and still have a growth story ahead of them. Know your time frame and risk tolerance. Know your earnings dates! I go through these quickly so grab a pencil and paper and jot down the names that look interesting to you and then make the trade your own. Good Luck!
NYSE:ARCHLong
by Jtacher51
CF - CF Industries Holdings, Inc.Began buying CF as it came out of its tight, coiling pattern from last week. The stock has exhibited extreme relative strength over the last couple of weeks of market turbulence. Volume patterns indicate massive institutional accumulation. Bought ~35% of max size in the morning and added ~15% of max size near the close, giving me roughly a half-sized position. The earnings and sales growth for this company are impeccable. For its year ending 12/2021, with one quarter yet to be reported, estimates are for 185% YoY earnings growth AND estimates for next year ending 12/2022 are predicting growth of over 200%. In addition to its bottom line growth, the company is growing its top line at a fantastic clip, as well.
NYSE:CFLong
by apaqu