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Hello Traders,

It was another good week for the markets. The S&P500, Nasdaq & Russel 2000 have all closed above there 50-day moving averages and the Dow Jones just slightly behind, closing right at the 50-day moving average. It’s certainly a positive development. The 200-day moving averages are hanging just above price for the S&P500 and Nasdaq. I wouldn’t be surprised if we meet a bit of resistance at the 200-day MA’s. A little back and fill would be normal and healthy. There is a lot of V shaped recovery chatter happening out there. I have no opinion on this, mainly because that’s just predicting what the markets will do. If we pull back and make a higher low, that would be great. If we make a V shaped recovery, that would also be great. At the end of the day, majority of us are trading individual stocks, so, as long as setups are emerging, we can build more and more confidence in the markets. From what I am seeing, theres been more charts firming up over the past couple of weeks. Hopefully this trend continues.

TICKERS

CRK, APG, LTH, PLNT, KWEB, BABA, ACGL, ARLP, EQT, BRBR, EXE, NOMD, STN, ZS, NTB, BBIO, EPRT, AZEK

Let’s get into this weeks charts!

CRK - Comstock Resources: Cup & handle formation in the works. Price is currently forming what looks to be the handle consolidation right under resistance. A breakout above resistance will confirm the pattern, which we haven’t gotten yet. I do think this consolidation could take more time, however I’m keeping an eye on going forward.

APG - APi Group Corp: Nice weekly base breakout. Price looks a bit extended, given its went straight up for the past few weeks. We’ll see how it pans out next week, but the main objective is to see price remain above the blue line. I often find when price rallies like this, with no pause, it often will retest the breakout level rather quickly. Worth being patient with charts like this.

LTH - Life Time Group Holdings: Nice big bottoming base breakout, with a retest, then strong rally. Now price is forming another smaller consolidation as it digests the recent price action. This consolidation could continue to develop for longer, however, I’m keeping it on watch, as it could very quickly make its next leg higher if the markets remain strong. On the contrary, if we get some back and fill in the markets, this could continue to consolidate. I personally think a longer consolidation would better setup the breakout. Only time will tell.

PLNT - Planet Fitness: Repeat name from last week. Price is still consolidating right under resistance after failing the first breakout attempt. On watch for a second breakout attempt over resistance.

KWEB - China Internet ETF: This chart was shared several times in the past. Price is back under resistance after the recent market pull-back. I like the way its starting to look here. Volume is coming in, and its starting to inch itself back up to that upper resistance zone. A lot of potential in this name if the markets remain firm. On watch for the breakout over resistance.

BABA - Alibaba Group: Another China name on the list. Baba had a solid breakout when all the China names were hot. After the markets pulled-back, it got dragged back under its resistance line. It’s now starting to push back over this level. I’m very interested, given price can hold this level.

ACGL - Arch Capital Group: This chart may be way too early. Price needs to a bit of a push higher to confirm this basing pattern will actually develop. Right now we look like we could potentially be sitting right at the bottom of this base. But some confirmation in price is needed. I will likely take an early entry in this name if I see the price start to act positively off this low.

ARLP - Alliance Resources Partners: This was a chart I was all over months back. It broke out of this big base as I was anticipating, but failed the follow through. It tucked back under resistance, and has been consolidating ever since. Now it looks like its pushing back up to resistance and potentially going to give a second breakout attempt. On watch for the breakout confirmation.

EQT - EQT Corporation: Big base formation followed by a smaller consolidation right under resistance. This name has been chopping around at this level for months. I’m waiting for a confirmed breakout over resistance to get involved. On watch for now.

BRBR - BellRing Brands: This name has been in a strong uptrend. It’s currently putting in a nice consolidation as it digests the recent price action. It also seems to be interacting positively with the 50-week moving average. We need a breakout confirmation to get involved, so I am waiting patiently. This consolidation could certainly stretch on for longer, so patience here is important.

EXE - Expand Energy Corp: I love the overall look of this chart. Nice big base, with price consolidating right at resistance. Its definitely been a bit choppy for the past few months. But so have the markets. I will wait patiently for a proper breakout to signal getting involved.

NOMD - Nomad Foods Limited: Repeat name here. Love the look of this chart. Price hasn’t been able to get over this resistance line for multiple years, and now its beginning to push over the line as of last week. Still has some work to do, but love the overall look and setup.

STN - Stantec Inc: I shared this one last weekend and we got the breakout on the weekly timeframe to close the week. Main objective here is simple, we want price to hold that black resistance line moving forward, and see it act as support.

ZS - Zscaler Inc: I’ve been monitoring this setup for a while. It finally got a weekly close over that slanted resistance zone. I think this one has a lot of work to do, but getting over that resistance zone was the first sign of a change in character. I would expect that resistance level to get tested at some point in the near future as price develops. But nonetheless it’s moving in the right direction.

NTB - Bank of N.T. Butterfield & Son: Massive base pattern. Price just barely closed over resistance to close the week. Not sold on the breakout, but will be monitoring closely for follow through.

BBIO - BridgeBio Pharma: Similar to Zscaler, this name got the weekly close over this long standing slanted resistance zone. A lot of work to do, but a move in the right direction.

EPRT - Essential Properties Realty Trust: This was one of my top charts weeks back. Love the overall look of the chart. It took a sharp pull back when the markets were getting hammered. It made a very quick recovery, which is very positive to see. I’m watching for that weekly breakout over resistance.

AZEK - The AZEK Company: A lot of volume showing up as this name consolidates right under resistance. A breakout would move this into all-time-high territory. On watch for that breakout.

Thanks for tuning in as always!

I hope everyone has a great week.

Together We Trade