5 Stocks to Watch This Week (6/07)

Post Sponsored by RNNR Spotter Trend Algo

RNNR Spotter’s proprietary trend algorithm script uses a combination of indicators and data to generate accurate buy and sell alerts.

Here is our list of five stocks to add to your watchlist this week. 

***S&P 500 (SPY)***

Summary: Retesting ATH’s. We either get a breakout or rejection. Here are the scenarios below. Also I used Fibonnaci extensions to plot potential upward resistance targets since we are at ATH’s.

• Long/Calls: A break and close above 423 with targets of 425, 427, 429
• Short/Puts: A break and close below 421.5 with targets of 420.4 (Major Support), 419.5, 418.75, 417.4 (Major Support)
• Also look for a potential bounce/reversal off 420.4 support level with Targets mentioned above.
• Consolidation between 471 & 422 or 423 & 427

Indicators:

• EMA: Above 72 EMA & Above 4 Period Variable MA
• RNNR Spotter: Last signal was Potential Downtrend on Thursday. You can wait for a potential change in the short term trend with a Potential Uptrend Signal + Volume
• RNNR Momentum: Curling Up but Buying & Selling pressure is about even. Thus indicating a neutral stance
• On Balance Volume w/ Bollinger Band & EMA: Just broke above its 9,21, & 72 EMA. Needs to continue upwards to confirm a bullish short term trend.

1D Chart: https://www.tradingview.com/x/RQfS4cWx/ 

***Apple (AAPL)***

**Summary**: WWDC 2021 starts this week. Let’s see if this catalyst creates a bullish environment for Apple.

• Long/Calls: A break and close above 126.16 with targets of 127.64 (Major Resistance), 129.5, 131.34, 133.21, 134.93 (Major Resistance)
• Short/Puts: A break and close below 125.35 with targets of 123.75 (Major Support), 121.75, 119.43 (Major Support)
• Also look for a potential bounce/reversal off 123.75 support level with Targets mentioned above.
• Consolidation between 123 & 127 or 127 & 131

**Indicators**:

• EMA: Below its 72 EMA & but recently broke above its 4 Period Variable MA
• RNNR Spotter: Signaled a Potential Uptrend on Friday with volume backing it. Let’s look for extra confirmation with Buy Signal over the coming days. Thus signaling a potential continuation of the trend
• RNNR Momentum: Curling Up and still in bearish territory but Buying & Selling pressure is at an inflection point. Thus indicating a potential reversal in the current trends momentum
• On Balance Volume w/ Bollinger Band & EMA: Currently below its 9,21, & 72 EMA and at the bottom of its bollinger band. This may indicate a potential reversal in trend with selling pressure drying up.

1D Chart: https://www.tradingview.com/x/e9FiTK1b/ 

***Advanced Micro Devices (AMD)***

**Summary**: E3 2021 is coming up this Saturday (Gaming Conference). We may get a run up leading into the event or a sell the news event.

• Long/Calls: A break and close above 82.2 with targets of 83.41, 86.2 (Major Resistance), 87.6, 88.9, 90.85, 94.32 (Major Resistance)
• Short/Puts: A break and close below 80.5 with targets of 78.5 (Major Support), 76, 74.3 (Major Support)
• Also look for a potential bounce/reversal off 78.5 support level with Targets mentioned above.
• Consolidation between 78 & 80 or 80 & 83

**Indicators**:

• EMA: Sitting right above its 72 EMA as support & above its 4 Period Variable MA
• RNNR Spotter: Currently in buying signal trend. Looking for a continuation of the trend or consolidation
• RNNR Momentum: Curling Up into bullish territory but buying pressure is weak in the short term
• On Balance Volume w/ Bollinger Band & EMA: Currently above its 9,21, & 72 EMA and nearing the top of its bollinger band. This may indicate a potential reversal in trend once it hits the bands or a continuation if it breaks above the bands

1D Chart: https://www.tradingview.com/x/asRQQKyv/ 

***Facebook (FB)***

**Summary**: Tested ATH’s on Friday and rejected. Let’s see if it reclaim that area or breakdown through the week

• Long/Calls: A break and close above 333.02 (Major Resistance) with targets of 341.89, 346.5, 353.17 (Major Resistance)
• Short/Puts: A break and close below 329 with targets of 326, 323, 320.5, 316.7 (Major Support)
• Also look for a potential bounce/reversal off 316.7 support level with Targets mentioned above.

**Indicators**:

• EMA: Above its 72 EMA as support & at neutral with its 4 Period Variable MA, indicating consolidation
• RNNR Spotter: Currently in a potential downtrend signal. Looking for a continuation of the trend or consolidation
• RNNR Momentum: Flat but in bullish territory. Selling pressure is present but weak in the short term
• On Balance Volume w/ Bollinger Band & EMA: Currently above its 9,21, & 72 EMA and nearing the top of its bollinger band. This may indicate a potential reversal in trend once it hits the bands or a continuation if it breaks above the bands

1D Chart: https://www.tradingview.com/x/xitN70wp/ 

***WingStop (WING)***

**Summary**: I like wings and it’s summer time. Thus a good time for eating them. However my personal experience at Wingstop has varied over the years. 

• Long/Calls: A break and close above 140.66 with targets of 143.74 (Major Resistance), 147.29
• Short/Puts: A break and close below 137.21 (Major Support) with targets of 135.67, 134.53, 133.48, 130.68 (Major Support)
• Also look for a potential bounce/reversal off 135.67 support level with Targets mentioned above.

**Indicators**:

• EMA: Below its 72 EMA as support & at neutral with its 4 Period Variable MA, indicating consolidation or indecision
• RNNR Spotter: Currently in a Sell as of Friday. Looking for a continuation of the trend or consolidation
• RNNR Momentum: Flat but in bearish territory. Selling pressure is present but weak in the short term
• On Balance Volume w/ Bollinger Band & EMA: Currently above its 9,21, & 72 EMA and but flat thus indicating indecision. 

1D Chart: https://www.tradingview.com/x/toBrN3oj/ 

Disclaimer: These are just ideas and are NOT recommendations to buy or sell any particular stock(s). Do your own DD and chart analyst before investing your money.