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Stocks and ETFs To Watch Sample

Stocks and ETFs to Watch report is part of Premium Articles and focuses on Dow 30 stocks and 34 popular ETFs. This report is for week of April 22 2019, and includes charts for $AAPL $UTX $MCD $V $MRK $EZU $EFA $INTC $HD $SMH $GLD

Specific disclaimer: This report includes charts that may reference direction and price target levels determined by technical and/or quantitative analysis. No updates to charts will be provided if conditions change in ways that affect price direction and targets. This analysis is for informational purposes. See full disclaimer for more information.

Overbought/oversold stocks

Overbought conditions occur when PAL OB/OS indicator is greater than 90 and oversold when the indicator is less than 10.

There are 14 overbought and two oversold stocks in the weekly timeframe. Eight stocks made all-time highs (MSFT, DIS, V, MCD, INTC, PG, NKE, AXP). Two stocks are more than 20% below their 52-week high (WBA, UNH).

Long

AAPL has the momentum to reach 210.

UTX could test resistance around 140.

MCD “can stay overbought for longer than shorts can remain solvent.”

MRK may rebound but upside potential appears limited due to resistance around 74.75.

Short

INTC is over-extended and could retest a base around 56.50.

HD has support around 202.

Overbought/oversold ETFs

Overbought conditions occur when PAL OB/OS indicator is greater than 90 and oversold when the indicator is less than 10.

There are nine overbought ETFs and one oversold with XLK, QQQ, SMH, DIA and XLP at new all-time highs on a weekly closing basis.

Long

EFA could target resistance around 68.

EZU could reach 41 if it breaks above 40.

Short

SMH is over-extended with support around 112.40.

GLD woes may continue with test of support around 119,


Disclaimer:  No part of the analysis in this blog constitutes a trade recommendation. The past performance of any trading system or methodology is not necessarily indicative of future results. Read the full disclaimer here.

Charting program: Amibroker

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