Talking Technicals [part 3] -- December 4th
I’m sitting at my computer watching sports (football & college basketball), figured I would look at a few more charts. In case you missed these yesterday:
Here is [part 1] that went out Saturday morning…
Here is part 2 that went out Saturday night…
Part 3: The stocks discussed in this writeup (none of which I own yet) are:
ABNB
DKNG
CRM
WBA
INSP
HALO
GTLB
EXAS
DOCS
ADBE
MNDY
OKTA
V
SPOT
RVLV
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ABNB — Airbnb (no position)
No reason to own ABNB right now but I’d get interested at ~$112 on a breakout through the DTL from the ATH last year.
DKNG — DraftKings (no position)
Even though the operating losses and stock based compensation (SBC) at DKNG are horrible, it’s hard not to be intrigued by this chart/setup. DKNG got rejected at the 200d SMA on Friday but a push through the 200d SMA and DTL would get me interested although I’d keep a tight stop loss because this is not a stock I’m buying for the fundamentals.
CRM — Salesforce (no position)
CRM got pounded after Q3 earnings, the stock is down 54% from a year ago but it’s starting to look good on the long term (monthly chart). CRM bounced off the VWAP from 2013 lows in November which means if I started a position here in the low $140s I’d use that same VWAP for my stop loss which is ~$134
