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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 May 20, 2019, and includes charts for $INTC $DWDP $MMM $TRV $WBA $HD $TLT $IYR $XLE $XLU $IWM $XOM

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 is one overbought and five oversold stocks in the weekly timeframe. Three stocks made all-time highs (V, TRV and PG.) Five stocks are now more than 20% below their 52-week high closing price (WBA, DWDP, INTC, MMM and CAT.)

Long

INTC is a higher risk long for a rebound after testing support around 44.

DWDP is a higher risk long for a rebound off oversold territory and towards 33.

MMM high risk rebound could test 175 resistance.

Short

TRV is overbought and could retrace towards 145.

HD may test support around 187 before rebounding.

XOM support is around 74.

WBA support is around 50.

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 is one overbought ETF (TLT) and four oversold. Three ETFs made new all-time highs on a weekly closing basis (XLP, SPLV and XLU.)

Long

TLT is overextended and overbought but could move higher before retracing.

IYR is eyeing new all-time highs.

XLU is not overbought and could move even higher.

Short

XLE could drop towards 62 before rebounding.

IWM has support around 150.

 


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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