Hello Traders,

I will be travelling next weekend and will not be putting out a newsletter next week. Just wanted to let everyone know in advance!

What a week! The markets gapped higher Monday morning. Futures on Sunday night were blasting off immediately at open. Positive trade deals fuelling the rally higher it seems. The infamous V-shaped recovery looks to be in full effect. I certainly did not expect it to pan out this way, but here we are. The difficulty with V-shaped recoveries is that many names move to fast to participate. There were many great charts I would have liked to see develop over a bit more time to ultimately get more appropriate entries, but instead, they blasted off lows, through resistance, and continued higher. This makes it very challenging to get positioned in the market. Almost need to plug your nose and buy. Not something I am good at, I will be perfectly honest.

The positive news, is any pull-back in this market, looks to be a buying opportunity at this stage. So, be smart, wait for your spots, and take your shots.

TICKERS

LB, MTG, AIG, EVTC, DTE, HLN, ACGL, VZLA, EPRT, TYL, VEEV, ASND, WMB, SCHW, CTVA, SYBT, DGX, AZEK, AAPL

Let’s get into this weeks charts!

LB - LandBridge Company: Beautiful multi-month base, price is breaking out over resistance. Pretty simple, as long as we can hold the line the chart is in play.

MTG - MGIC Investments: Multi-month base breakout. Price pulled in slightly and got bounce after testing the breakout line. Again, as long as price can hold above the line I like it.

AIG - American International Group: Nice multi-month base forming after price broke out of a multi-year base. You can see this better if you scale the chart back further. Price has chopped around for a few weeks right above the resistance line. Looks like a continuation to the upside is in the works.

EVTC - Evertec Inc: Multi-year descending triangle pattern. I’m not sold on this subtle push over the resistance line, but like the overall look of the chart. It may pull-back again before making a move higher, especially if the market wants to pause for a bit. But regardless, I do believe a potentially longterm trend change could be in the works here.

DTE - DTE Energy Company: Multi-year base. Price has consolidated for a couple months right at resistance. It pulled-back slightly mid week, but closed at the highs. On watch for a breakout over resistance in the coming weeks.

HLN - Haleon: Multi-month base formation. Price is flirting with resistance, and has pretty strong volume coming in. On watch for a clean breakout over resistance to get involved. Its moved pretty aggressively off the lows, so if it needed to consolidate a bit further, I think that would be normal.

ACGL - Arch Capital Group: Repeat name here. I’m anticipating this turning into a base. I do want to see a push over this tight range it’s been in, before getting involved. But watching it closely for that price confirmation to get involved.

VZLA - Vizsla Silver Corp: Multi-year cup & handle pattern here. Price is breaking out over resistance as of last week, on massive volume. As long as it can hold over the line I like it.

EPRT - Essential Properties Realty Trust: Repeat name. Multi-year cup & handle pattern. I’m looking for that breakout over resistance to signal the next leg higher. I do like how tight it’s consolidating under that resistance line. Hopefully we can get the push higher in the coming weeks.

TYL - Tyler Technologies: I shared this chart a while back before it broke out of this big base. It’s since had a strong rally to the upside, and now pulled all the way back to support. Temporarily breaking below the line, and quickly reclaiming it. I’m looking at this as a breakout and retest. I simply want to see it stay above that line going forward.

VEEV - Veeva Systems: Shared this chart last week. Multi-year bottoming base developing. Price is a bit choppy, but is pushing over that resistance line. It’s being supported by a decent volume pattern as well. I’m looking to see this gradually build back up to those former highs to complete the right side of this base. Let’s see how it pans out.

ASND - Ascendis Pharma: Price broke out of this slanted resistance line, and has pulled back in to retest that line. It’s getting a bit of a bounce so far, but certainly has a lot of work to do. I prefer horizontal resistance lines, but still find trading around these slanted resistance lines effective. As long as it can hold the line and grind higher, I like it.

WMB - Williams Companies: Multi-month base in the works. This comes after a strong trending move, which is a very constructive look. Looking for that push above resistance to get involved.

SCHW - Charles Schwab: Massive base in the works here. Price is pushing through a level which has acted as resistance for multiple years. As long as it holds above this line I like it. I would like to see it test those former highs, and ultimately setup for an all-time-high breakout.

CTVA - Corteva Inc: Shared this one last weekend. It had a clean breakout over resistance from this nice base. Last week it pulled back to test that breakout level, and got a bounce. As long as it continues to hold that line, I like it.

SYBT - Stock Yards Bancorp: Multi-year cup & handle pattern in the works. We rallied pretty hard off that recent trough, and are now testing that upper resistance level. I definitely think a bit of consolidation would be normal. We will see what the market gives us. But I’m waiting for a push over resistance.

DGX - Quest Diagnostics Incorporated: Multi-year base breakout. Price seems to be reacting positively to that breakout level, having touched it last week, and got a slight push higher. Game plan is simple, as long as that line can act as support going forward, I like it.

AZEK - The AZEK Company: Repeat name. Multi-year cup & handle pattern. Price is currently just sitting above that resistance level. I’m hoping that line can hold as support going forward, and price can begin to gradually move higher from here.

AAPL - Apple: It looks like the pull-back is coming to an end. Price is resting the level it broke out of last year. It tucked below that support line during this broad market sell off, but quickly reclaimed that level. As of last week, price also managed to push over that slanted resistance zone which price has respected throughout this drawdown. As long as the blue line holds as support going forward I like it.

To all my fellow Canadians, enjoy your long weekend! But, US markets are open tomorrow, don’t forget that.

Have a great week!

Together We Trade