Watchlist 2023-05-19 $FTCH $TSM $MU $GOOS $GTESAMEX:SPY inched higher O/N after finishing the day with a strong rally out of the wedge. Congress appears to be reaching a deal on the debt ceiling over the weekend.
For further confirmation of a trend day, watch for:
USI:ADD pinned near +\-2000
USI:VOLD ratio over +/- 3
USI:TICK cumulating past 0 wicking to +/-900
NYSE:FTCH - Farfetch's Q1 Loss Narrows as Sales Increase; Shares Jump Premarket But Wedbush Analysts Remain Unconvinced, price target lifts to $12 from $11. Gapping 4 ATRs in the PM on 1.35 RVOL, so I would expect some consolidation off the open. Doesn't have much for res above so that's why I'm keying in on this name despite the high ATR move, however, it could easily dump off the open and then we would throw this idea away unless we see some convincing buying at an important level like 5.0.
Chips: still super strong, looking for retests of the key range BO areas to get long.
NYSE:TSM - 91.80
NASDAQ:MU - 66.00
NYSE:GOOS - 2023 Revenue up 31.4% Provides Guidance for increased store growth - goose was a complete loser PD, selling only stop near the close where we saw a nice rally back to 18.33. However, if you look at what goose did pervious earnings was it sold off the entire day, in made almost a complete reversal. . Watching for signs of strength off the open if it can first get over 18.30 and hold.
Support 17.50
Resistance 18.30
Inflection 18.30
NYSE:GTES - 12 RVOL PD after a complete flush down the prior day from 13.5 to 111.70 but couldn't get past the 11.70 support. If we can close over the 12 inflection, few min off the open there is potential for a massive relief rally, especially since the vast majority of vol was done at 12, also shown by AVWAP and vol profile. Pay attention to this one if a squeeze is your style of trade.
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