1) Stocks to Watch 2020 - February Update THREAD
Overall, +9.75%
8 double digit gainers
3 stocks with 20%+ gains
1 even stock
5 negative returns
$ZM $SQ $WORK $CRWD $SHOP $MDB $SE $OKTA $TCEHY $STNE $PYPL $LVGO $CGC $SNAP $ROKU
chrisperruna.com/2020/01/05/sto…
Overall, +9.75%
8 double digit gainers
3 stocks with 20%+ gains
1 even stock
5 negative returns
$ZM $SQ $WORK $CRWD $SHOP $MDB $SE $OKTA $TCEHY $STNE $PYPL $LVGO $CGC $SNAP $ROKU
chrisperruna.com/2020/01/05/sto…
2) $ZM - $105.00, up 54.32%, it has been the anti #COV-19 stock but the latest weekly candle ended in the bottom half. I still like long term but it may digest some of the YTD gains which will provide a decent entry area. Above or near the 200d would be great.
3) $SQ - $83.33, up 33.2% YTD, the stock reported solid earnings and looks poised to make a run once the market stops falling and shakes the concerns surrounding the virus. #long shares
4) $WORK - $27.02, up 20.20%, the stock made a huge comeback in February, after being down over 7% at the end of January. Relative strength signals this one should be going higher. Feel free to grab shares for a longer-term play.
5) $CRWD - $59.64, up 19.59% YTD, the stock was only down 3% from last month's finish. I started a position in Feb and plan to hold long term as long as it allows. #long shares
6) $SHOP - $463.31, up 16.53% YTD, the stock is pulling back towards the 200d ma (not quite there yet). The 200d has been a great accumulation / grab area for 2 years so take a shot if it gathers support near or above the long term average.
7) MDB - $152.50, up 15.87% YTD, the stock gave back approx. 10% of the gains from the end of January and $30 from Feb highs. Accumulation at or near the 200d ma has proven successful over time, which is now.
8) SE - $45.06, up 12.03% YTD, it’s been on a run since October even with the 13% drop last week. Let’s see where the stock bases as the relative strength is solid, indicating strength for a continued longer term run.
9) OKTA - $128.06, up 11.00% YTD, the stock has corrected 10% from its all time high and is sitting on the 200d ma. Those interested can grab or add here, for a longer term play. #long shares
10) TCEHY - $49.65, up 3.42% YTD, the stock has pulled back 10% from highs but is still up 20% from October lows. I like the company long term and hold shares #long
11) STNE - $39.89, even YTD, the company reports in 2 weeks and has been rising above its 200d ma since last summer. There is resistance at $45 (March 2019 & Jan & Feb 2020) but once cleared, this should be able to run. #long shares
12) PYPL - $107.99, down 0.17% YTD, the stock gave back 13% from all time highs and is trading just below the 200d ma. I am on the fence if I should grab again with no position at this time. I prefer adding $MA to portfolio over $PYPL. Will keep you posted on my decision.
13) $LVGO - $25.01, down 0.2% YTD, although the stock was down 10% last week, it made a high low vs January. Looks like it’s poised to make a move higher. A move above $32 (on above ave volume) would be powerful. #long shares
14) CGC - $18.78, down 10.95% YTD, this stock is still a cannabis play with patience. The 200d ma is sloping downward so until the stock bottoms and clears this average, we’ll stay on the sidelines, waiting patiently for the stock to come back into favor.
15) SNAP - $14.17, down 13.23% YTD but nearly 30% since the 52 week high in January. It has had two large distribution weeks this year so a red flag is up. No position at the moment and not in favor to add. It must form a base and stop the bleeding.
16) ROKU - $113.67, down 15.11% YTD, the stock is now trading below the 200d ma after a big reversal following earnings (it peaked above $150). I still like long term and I’m hold shares #long but watching for a base – the $98 to $100 is next level down.
