ES/ Futures on Fri 07/23/2021 close. New highs & price shelf established in risk on display to end the week.
FB: Linear Regression on the daily at FB's ATH's with reiterated PT from 400 to 480 via Credit Suisse. Positive ER from TWTR and SNAP as seen in previous quarters for the sympathy play. Approach to upper limits could set newer price shelves going into earnings next week.
Weekly "Cup and Handle" on SHOP. Could see higher levels after it establishes in this value area for a little while more. Reiterations of higher price target to 1700 from Barclays alongside strong fundamentals have touted SHOP as an undervalued company for its price. Let's see!
SPY Gap fill in progress and reflecting accordingly in the market today
TNX x 200ma imposed on 1 yr range. I'd like to see what happens at this key confluence point of price action and 200ma.
MSFT: Clean weekly channel, convincing Pearson's, price action upwards remains intact, but a healthy pullback before capturing new price shelves is something I'd like to see. Dreamy move if you caught this one!
AAPL: Poised for continuation with relative strength from tech. Consolidation could be seen before healthier price action is observed to the upside. New PT set by JP Morgan from $165 to $170
CLF: Beta: 2.24, ATR: 1.17// Eyeing this channel for upside potential; Looking for confirmation build > 22.66. Channel applicable to downside price action.
AAPL: Fruit flaggin formation from a strong open this am. I am bullish moving forward >139.11 // This is in the same bin as MSFT for me.
MSFT: Flaggin. Trade idea/thesis coming up on Monday looking forward. Let's see if she holds these levels.
Infrastructure in play PT adjusted today by Goldman Sachs to $48 from $39 Acute gap fill to 37 range on horizon MC: 6.85B ATR: 1.75 Beta:2.72 KLs: 34.21, 35.49, 36.52, 37.56, 39.03, 40.90
New buy rating of 275. Surpassed all targets. New key levels in orange :)