Morning Stock Prep – Watchlist for May 6, 2019

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    Morning Stock Prep – Watchlist for May 6, 2019

    This morning the markets are opening with a huge gap down and very unstable due to due to fear that the US China talks might have falling apart. Trump tweeted over the weekend that he would be looking to increased tariffs on China.

    The watchlist was prepared during the weekend before today’s revelations. Therefore, I doubt anything will hold up today, and we will most likely be sitting on our hands except for a quick scalp on setups.

    Bullish:
    ACOR – Nice volume, made move over resistance and could start to push a few days.
    CARS – consolidated and bounced of support, could test resistance in the upper 21’s for a move over 22.
    CSIQ – Nice move on Friday, could move into the gap and push over 22
    NWL – broke a channel, could push as it has in past
    X – Strong close and big volume, could push over resistance and into the 18+ range
    TSLA – got a new funding, but also in channel for a move up, if it breaks the channel could get a bigger move.

    Bearish:
    BA – Another incident involving Boeing plane, doubt it’s Boeing faults, but bad reputation will cause a decline and fear of cancellations.
    EBS – If it opens low, could recover, looking for a test and break of support for a bigger fall.
    TDC – Big selling volume, could push down to 38

    Watch:
    ENPH
    NEO
    SWKS
    WW

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