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MarketShanks Watch: Nov. 5

SPY: Seems to be getting a little tired on the weekly chart. The daily chart looks great though and we are day/short-term traders so no need to be over cautious…last weeks highs are in play today if we break 11/01, 11/04 highs.

AMZN: Printed a nice hammer yesterday…holding all gains from earnings and in a nice consolidation range right now. Think we can get moving and test top of that range today/tomorrow.

BBRY: Has some support in the mid 6′s here… I am looking to long this if we flush down to 6.50ish area off the open. Thinking a nice bounce coming here in BBRY.

BIDU: Watching for the snap back over 156.5/20sma for a long against 11/04 lows. Currently sitting right at uptrend line support from October.

CMG: Nice break over recent trading range yesterday…550 possible by end of week.

CRM: Looking very strong would love to buy this on an intraday dip at or below 55. Thinking we see new recent highs here very soon. 56-56.20s resistence…over that I think 60 on way.

EXPE: Looking for pullback to 200sma/57.50s. 61 resistence here…This gets strong and breaks out again 65 target.

FB: Looking to short any pop to 49s+ on FB…I think this will see some more downward action into the twitter IPO. 50sma/47.50s support here.

IBM: Thinking this name may be done sliding…Like the curl off the recent higher high/low pattern. Above 10sma, I like IBM long target 1 185 then go from there. Will take time for this chart to piece back together for an intermediate term.

JCP: Nailed JCP from my 11/01 watch list…thinking there may be more meat left on the bone and 9s are possible here. 

MSFT: Love this one long here we are headed back to recent highs in the 36.20s for the third test. I feel like we get the breakout here and 37.5 then 40 targets on deck.

NFLX: Looking ready to make another move higher on the daily. 11/04 lows/10sma support I think 350s in play by end of week.

TSLA: Earnings after close today…no reason for me to think that shorts don’t con’t to cover there positions running this baby even higher into earnings. I can see 180 before lunch today then after lunch not sure I will touch this one either way as we head into the report.

QIHU: Over 90 resistance I think we see 92 really quick. On watch for a scalp/day trade. 88 support.

Please check out any earnings info on these companies before making a trade. I know there are still some names who haven’t announced earnings yet. Check out my latest blog post on some recent winners from last Friday’s watch list: http://goo.gl/bCYb3i

 

http://finviz.com/screener.ashx?v=211&t=AMZN,BBRY,BIDU,CMG,CRM,EXPE,FB,IBM,JCP,MSFT,NFLX,TSLA,QIHU&ta=0

1105 500x280 MarketShanks Watch: Nov. 5

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