Monday Setups - Bulls on Wall Street

Monday Setups

Hello, Bulls.
Time to catch up on some stock screens and start preparing for Monday.  But, before I look ahead, it makes sense to look back at some of my recent posts to see what stocks moved and which ones didn’t.  I hope this look back gives you a better sense of how I trade and what I’m looking for. 

Lately, I’ve been quite busy at my ‘day’ job and unable to participate in scalps.  This is my real love, but you have to be realistic – if you don’t have time to scalp, look for swings and place your trades accordingly. 

On December 9th (after the bell), I posted a Watch List which included WAVE, WAVX, TSTR, BEE, PSUN, and RGCI.  Let’s break down the setup and how I played (or would have played) the action…

  • WAVE – was looking for a swing long entry on move through MA20.  Notice on the daily chart that it never broke MA20, so I’m not interested in a swing long.  Why would I be?  No momentum move.  
  • WAVX – this one satisfied my setup, so a long swing with entry under 1.35 may not have been a bad play here.  I didn’t take a position, but wouldn’t have been a bad risk with stop at MA20.
  • TSTR – hasn’t broken through MA20 with volume, so I’m still on the sidelines.  However, we did see a full sto bullish crossover next week – I’m still interested. Daily chart.
  • BEE is still coiling up very nicely – really feels like a move soon, so I’m giving this one a lot of attention Monday. Daily chart.
  • PSUN – I like it. Nice rounding bottom all over the chart. 
  • RGCI – Tough one to read here. Was hoping for a continuation through MA20 on Thursday that never happened.  It tried to recover Friday, but is struggling.  I’ll likely look elsewhere or get involved on an intraday scalp on mega volume.

OK, now it’s time to look forward – big list of stocks to watch Monday.  Take a look and see if they match your trading style.  Generally speaking, these are all swing long setups if they satisfy some kind of technical move.

  • CRBCdaily chart – bollinger bands are collapsing quickly as CRBC tests horizontal resistance and MA50… failed to move Friday, but a move through could open the doors. I’m looking for a move through MA50 with volume.
  • BBXdaily chart –  failed to move Friday, but I’m digging the volume and the tight, but opening bollinger bands. I would prefer to scalp this on a move, but could swing with first stop at MA20.
  • PRGN – nice triangle on the daily. 
  • PQ appears to have put in a temporary bottom.  MACD looking to move through 0 and Full Sto has a nice looking rounding bottom.  Swingable here.
  • MAXY is a continuation play.  I would like to scalp this one (possible swing) if it stays strong above MA50 with volume.  Volume is key here after Friday’s move.
  • CYTR has been struggling against 1.17.  A move through would be a bullish signal with 1.17 as the new support level.  I will not enter under 1.17 – no guarantee, but entering above increases odds of long move. If you look at the daily, you’ll see lots of resistance here over the last 6 months.
  • ELNdaily chart – Nice consolidation against MA20 with narrow bollinger bands. Waiting for the move.
  • VVUS – nice triangle with price trapped between MA20 and MA50.  Kaboom soon? Tight bollinger bands, baby.
  • SONCdaily chart – ooohhh, boy.  Put this one on your list. Testing horizontal resistance, MA200 and MA50.  Bollinger bands want to open (they told me so).
  • FXEN – not the best chart, but not bad.  Would like to see more volume to support this move.
  • BKE is one of my favorite clothing retail stocks.  I shop there myself and it is always packed.  The move through MA20 on Friday indicates a swing entry until further notice.APP might also make a move out of this downward channel, so eyeball it this week.
  • GLBL – Lastly, I think it is time to think about GLBL again.  I will likely not play unless it gets through MA20, but I like the bottoming action we’re seeing now on this 3 month bear move.

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