Trading Watch List 09.04.2020

Market had the look of parabolic move, finally a rug pull, not surprising given how frothy many stocks has become.  SPY holds 20 MA, QQQ not there yet, ideally another pull to 20 MA ,282-280 area would be good for a relief bounce. Slim pickings as far as watch list, one day of selling doesn’t change the trend. Action coming days will paint a clearer picture.

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Here is the watch list and game plan:

OSTK Holding 50 SMA. See if 70 holds for an oversold bounce.
TSLA 20 MA on 385 area. See how it holds.
BIGC Watching if it holds 92-90 area for a bounce.
INMD Watching back over 36-36.35.
TWTR See if this holds 40 level for a bounce.
DOCU Filled the gap. Watching on red to green type move for a trade.
RVLV Watching back over 22.12.
BEPC Holding up well. Watching back over 52.
ZM Unlikely tomorrow but if things get panicky, like this on gap fill 325 area.


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